The industrial gases industry is predicted to increase steadily as a result of rising industrialization. Furthermore, the increasing use of
industrial gasesin a variety of industries, including healthcare, metals and mining, and food and beverage, is expected to drive the industrial gases market forward. Furthermore, the market for industrial gases is expected to be aided by the rising need for alternative energy sources. Environmental laws and safety, on the other hand, are expected to stifle the expansion of the industrial gases market in the coming years.
According to a study conducted by Fortune business Insights, the global industrial gases market is projected to reach $148.16 billion by 2028. Whereas in India the industrial gas segment is expected to grow at a CAGR of 11.3% till 2026, states IMARC.
With rising demand for industrial gases across multiple industry vertices, the industrial gas segment is going through a sea change. Starting from the introduction of cryogenic processes like PSA to the implementation of updated technologies like IIoT; there is a lot to look for in the industrial gas segment. That being said, in this article let's discuss in detail the key transformation points of the industrial gas segment to understand the future of this market as a whole.
Pressure Swing Adsorption (PSA) for production of Oxygen and Nitrogen
Pressure swing adsorption (PSA) technology is rapidly being used by industrial gases firms as a cost-effective and highly efficient means of producing nitrogen. PSA systems are more cost-effective than classical cryogenic distillation or stored liquid nitrogen for nitrogen generation on-site. PSA systems may generate nitrogen at flow rates ranging from 5,000 scfh (Standard Cubic Feet Per Hour) to 60,000 scfh (Standard Cubic Feet Per Hour), with purities ranging from 95 percent to 99.9995 percent.
The use of pressure swing adsorption technology in the manufacture of oxygen gases is also advantageous. Oxygen for the healthcare industry is now generated on-site using mobile PSA systems, which eliminates the need for oxygen delivery and storage, lowering expenses. These PSA systems are lightweight, portable, and free of the dangers associated with high-pressure cylinders.
They're becoming more common in military hospitals and ambulances. Long-distance travel or traffic can result in oxygen deficit at the institution, resulting in death. The PSA system was created with the goal of replacing the usage of oxygen cylinders in ambulances.
Industrial Internet of Things
Today, the industrial gas manufacturing firms are implementing Industrial Internet of Things (IIoT) in their manufacturing facility. The data analytics and a connected network between users, equipment and each process are increasingly helping the firms to achieve gas production management in real time. With the implementation of IIoT in the industrial gasses segment, Product Liability, Safety and transparency are getting exclusively covered.
For example, IIoT is helping an industrial gas manufacturer, BIG, to provide its clients a dedicated service with constant surveillance and monitoring. Currently the firm is implementing IIot to deliver a unique range of services like - Forecast tank level with utilization rate calculation to enable users to schedule the next order in time, Track gas order status and location of delivery trucks before arriving at customers’ factories and more.
The firm has been leveraging IIoT to ensure optimum safety of the product. This includes measuring pressure in product tanks with an overpressure alarm for preliminary pressure relief, and also detecting irregular gas flow rate by using post-vaporizing temperature control.
Industry 4.0 and Pipeline Optimization
With the advent of Industry 4.0, industrial gas production companies are now better able to optimize more complicated pipeline networks with many units and gas customers. Currently, historical data is utilized to build a model that predicts client demand volumes across the network. The model could track real production and consumption throughout the pipeline and provide cost-effective suggestions to fulfill all client demands.
“The models could also calculate the probability of sudden changes in customer demand—such as a steel mill suddenly pulling a significantly higher volume of oxygen—and calculate an optimized output. In such a scenario, the model would simultaneously account for remaining uncertainty in the demand model and important operational-cost trade-offs, particularly between increasing pipeline pressure and vaporizing supplemental liquid. Operators can reference a display of real-time set-point recommendations for the relevant equipment as operating and ambient conditions evolve,” states a report by Mckinsey and Company.
Future Perspective
In the coming days, the industrial gases segment will be hugely impacted by the advanced technologies like big data analytics, IoT (internet of Things) and cloud computing. Furthermore, the implementation of the updated form of manufacturing like pressure swing adsorption advances and other cryogenic technologies will enable industrial gases companies to produce larger quantities of gases at lower costs.
However, with new stringent laws coming into play, the transportation of the gases is expected to be daunting for the players in this segment.
