The growing focus on oil and gas midstream sector and increasing penetration of global players will drive the Saudi Arabian industrial gases market to cross SR6 billion ($1.6 billion) by 2021, according to a recent report.

The report named ‘Saudi Arabia Industrial Gases Market By Type, By End User, Competition Forecast and Opportunities, 2011 – 2021’, has been published by TechSci Research report, a research-based global management consulting firm.

The extensive growth in the market is anticipated on account of growing demand from various end user industries such as refinery, metallurgy, food and beverage, paper and pulp, etc, coupled with implementation of favourable government policies to support petrochemicals sector, said the report.

Additionally, huge investments in Saudi Arabia for capacity additions at existing end user facilities and new projects is expected to have a positive impact on Saudi Arabia industrial gases market through 2021, it added.

On the basis of type, the market has been segmented into oxygen, nitrogen and argon, stated the report.

Among these categories, oxygen dominated the industrial gases market in Saudi Arabia in 2014, and is anticipated to continue its dominance through 2021, owing to its use in a wide range of applications in the metallurgy industry, such as welding, fabrication and other processes, it said.

Region-wise, west region is forecast to dominate the industrial gases market in Saudi Arabia over the next five years on account of the presence of a large number of industrial units in this region, it added.

Moreover, the oil-to-chemical (OTC) complex, with an anticipated capacity of 200,000 barrels per day, is forecast to be completed by 2020, thereby expected to generate huge demand for industrial gases from this region.

Karan Chechi, research director, TechSci Research, said: “Saudi Arabia is the only country among the GCC nations that has allowed participation of private players in refinery and petrochemical sectors. This has had a huge positive influence on the country's industrial gases market.”

“Also industrial cities such as Yanbu and Al Jubail, are expected to be major consumers of industrial gases during forecast period,” he said.

Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm

“The report has evaluated the future growth potential of industrial gases market across Saudi Arabia and provide statistics and information on market structure, industry behaviour and trend.

It is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in Saudi Arabia industrial gases market. – TradeArabia News Service