Country Dashboard: Belgium



The commercial industrial gas market in Belgium is estimated to have generated revenues of $743.1m in 2019. This is up from around $812.0m in 2009, indicating an average annual growth rate of -0.4% for the decade.

The Economy

Between 2009 and 2019 GDP remained very erratic and grew by an average of 0.6% p.a. if adjusted for inflation. An advanced economy with a high standard of living, Belgium has a well-developed free market economy, based on both industrial and service sectors.

Industrial production (as measured by IPI) has followed a similar trend to the wider economy over the course of the past decade. However, the growth of industrial production was badly hit by the financial crisis, with a decline of -10.3% in 2009. Furthermore, industrial production in Belgium has seen decent growth in the past 2 years, 1.47% in 2018 and 1.54% in 2019.

GDP inflation rates have remained high and erratic in the country in recent years, with high falls occurring in 2012 and 2015.

The Gas Business

The commercial gas market in Belgium has seen good growth rates over the course of the last decade. However, there have been periods of harsh decline for the market, first in 2009 where the industrial gas industry declined by -15.3%, followed by a sharp growth in 2011 however of 10.4%. The gas market has fluctuated up and down since with a negative rate of -5.7% in 2019.

There are currently five Tier One companies with operations and distribution links in the Belgian industrial gas market. However the market is dominated by Air Liquide who command a substantial 54.7% of the market share, which equates to $396.0m in revenues. The second largest industrial gas company in the country is Air products with a much smaller share of 14.2% - equating to revenues of approximately $102.9m. Nippon Gases has a similar market share percentage of 10.0%. The rest of the market is fragmented, with no other company controlling a share of the market more than 7%.

There is a substantial onsite network in the Benelux region, where onsite and pipeline delivery methods account for 40.1% of commercial industrial gas revenues in Belgium. This equated to $324.6m in revenues. The second largest delivery method in the Belgian industrial gas market is through the sale of packaged gas, which accounts for roughly 28.6% of total commercial revenue. Finally, bulk liquid gas sales have a marginal 19.6% of the market share.

If captive facilities in the country were to be converted into merchant operations then we estimate that these could generate $85.6m in revenue.

The sale of Nitrogen is the largest revenue generator for the country, contributing 27.9% of total industrial gas revenues. Oxygen is the second most important gas in Belgium, in terms of revenues, accounting for 26.2% of total gas sales. Hydrogen is the third largest revenue generator with a 21.5% market share, followed by argon with 9.3%. CO2 stands at 4.6%, with the rest of the market (6.8%) being made up through sales of helium, acetelyene and speciality gases.

Sales to the chemicals industry is the largest revenue generator for the commercial gas market in Belgium, accounting for roughly 45.8% of the market, which equated to $340.6m in revenues. Sizeable contributions to the gas market are also made through sales of gas to the metallurgical (22.9%) and manufacturing (15.2%) industries. The rest of the end-user market is fractured with no other industry being responsible for more than 6% of revenue streams.

The Future

Within the 2019-2024 timeframe, our forecast models predict growth from 0.8% p.a. in a low scenario to 1.0% p.a. in a high scenario. Accordingly, the industry in Belgium is expected to achieve revenues of between $772m to $781m by 2024.



GDP, IPI and Inflation

  • GDP (%)
  • IPI (%)
  • GDP Deflator (%)
Year:,GDP (%),IPI (%),GDP Deflator (%) 2000,-8.5%,-18.5%,-11.8% 2001,0.0%,5.0%,-0.8% 2002,8.9%,0.7%,7.0% 2003,23.1%,2.3%,22.2% 2004,16.3%,7.7%,12.2% 2005,4.3%,3.5%,2.2% 2006,5.9%,6.3%,3.3% 2007,15.1%,6.6%,11.3% 2008,9.8%,3.9%,9.0% 2009,-6.5%,-10.3%,-4.3% 2010,-0.2%,11.2%,-2.9% 2011,9.0%,4.4%,7.1% 2012,-5.5%,-3.3%,-5.8% 2013,4.6%,0.9%,4.4% 2014,1.9%,1.7%,0.6% 2015,-14.3%,-1.2%,-15.5% 2016,2.7%,4.7%,1.3% 2017,5.4%,3.0%,3.6% 2018,8.4%,1.5%,6.8% 2019,1.4%,1.5%,0.0%
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Between 2009 and 2019 GDP remained very erratic and grew by an average of 0.6% p.a. if adjusted for inflation. An advanced economy with a high standard of living, Belgium has a well-developed free market economy, based on both industrial and service sectors.

Industrial production (as measured by IPI) has followed a similar trend to the wider economy over the course of the past decade. However, the growth of industrial production was badly hit by the financial crisis, with a decline of -10.3% in 2009. Furthermore, industrial production in Belgium has seen decent growth in the past 2 years, 1.47% in 2018 and 1.54% in 2019.

GDP inflation rates have remained high and erratic in the country in recent years, with high falls occurring in 2012 and 2015.


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Commercial Gas Market

  • GDP (%)
  • IPI (%)
  • Gas Market (%)
Year:,GDP (%),IPI (%),Gas Market (%) 2000,-8.5%,-18.5%,10.0% 2001,0.0%,5.0%,4.2% 2002,8.9%,0.7%,11.6% 2003,23.1%,2.3%,45.7% 2004,16.3%,7.7%,28.3% 2005,4.3%,3.5%,5.9% 2006,5.9%,6.3%,13.3% 2007,15.1%,6.6%,29.3% 2008,9.8%,3.9%,16.1% 2009,-6.5%,-10.3%,-15.3% 2010,-0.2%,11.2%,0.7% 2011,9.0%,4.4%,10.4% 2012,-5.5%,-3.3%,-15.1% 2013,4.6%,0.9%,5.4% 2014,1.9%,1.7%,2.9% 2015,-14.3%,-1.2%,-21.5% 2016,2.7%,4.7%,4.4% 2017,5.4%,3.0%,4.5% 2018,8.4%,1.5%,7.8% 2019,1.4%,1.5%,-5.7%
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The commercial gas market in Belgium has seen good growth rates over the course of the last decade. However, there have been periods of harsh decline for the market, first in 2009 where the industrial gas industry declined by -15.3%, followed by a sharp growth in 2011 however of 10.4%. The gas market has fluctuated up and down since with a negative rate of -5.7% in 2019.


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Cylinder Pricing Information

  • GOX
  • GAN
  • GAR
  • CO2
,GOX,GAN,GAR,CO2 ,578.4,407.7,1304.8,353.3
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These prices are a gasworld Business Intelligence estimate of the price, per tonne in local currency, of the main gases produced through cylinder and pipeline facilities.


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Bulk Liquid Pricing Information

  • LOX
  • LIN
  • LAR
  • LCO2
,LOX,LIN,LAR,LCO2 ,149.9,137.1,348.1,117.1
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These prices are a gasworld Business Intelligence estimate of the price, per tonne in local currency, of the main gases produced through bulk liquid sales.


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Market Share by Gas Company

based on market total of $724.1m

Legend:
  • Air Liquide
  • Air Products
  • Linde plc
  • Messer
  • Nippon Gases
  • SOL
  • Others
Air Liquide,396.0 Air Products,102.9 Linde plc,16.1 Messer,44.1 Nippon Gases,72.1 SOL,32.2 Others,60.6
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There are currently five Tier One companies with operations and distribution links in the Belgian industrial gas market. However the market is dominated by Air Liquide who command a substantial 54.7% of the market share, which equates to $396.0m in revenues. The second largest industrial gas company in the country is Air products with a much smaller share of 14.2% - equating to revenues of approximately $102.9m. Nippon Gases has a similar market share percentage of 10.0%. The rest of the market is fragmented, with no other company controlling a share of the market more than 7%.


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Market Share by Supply Mode

based on market total of $724.1m + $85.6m Captive

Legend:
  • OSP
  • Bulk
  • Packaged
  • Captive
  • Other
OSP,324.6 Bulk,158.4 Packaged,231.7 Captive,85.6 Other,9.5
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There is a substantial onsite network in the Benelux region, where onsite and pipeline delivery methods account for 40.1% of commercial industrial gas revenues in Belgium. This equated to $324.6m in revenues. The second largest delivery method in the Belgian industrial gas market is through the sale of packaged gas, which accounts for roughly 28.6% of total commercial revenue. Finally, bulk liquid gas sales have a marginal 19.6% of the market share.

If captive facilities in the country were to be converted into merchant operations then we estimate that these could generate $85.6m in revenue.


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Commercial Gases Value

Legend:
  • Industrial Oxygen
  • Medical Oxygen
  • Nitrogen
  • Argon
  • Carbon Dioxide
  • Hydrogen
  • Helium
  • Other
Industrial Oxygen,187.6 Medical Oxygen,7.7 Nitrogen,207.3 Argon,68.9 Carbon Dioxide,34.2 Hydrogen,159.7 Helium,27.0 Other,50.8
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The sale of Nitrogen is the largest revenue generator for the country, contributing 27.9% of total industrial gas revenues. Oxygen is the second most important gas in Belgium, in terms of revenues, accounting for 26.2% of total gas sales. Hydrogen is the third largest revenue generator with a 21.5% market share, followed by argon with 9.3%. CO2 stands at 4.6%, with the rest of the market (6.8%) being made up through sales of helium, acetelyene and speciality gases.


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Market Share by End-User

Legend:
  • Chemicals
  • Refining & Energy
  • Metallurgy
  • Gen Manufacturing
  • Food
  • Electronics
  • Healthcare
  • Glass
  • Others
Chemicals,340.6 Refining & Energy,13.9 Metallurgy,170.5 Gen Manufacturing,113.3 Food,40.0 Electronics,7.3 Healthcare,13.6 Glass,4.7 Others,39.1
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Sales to the chemicals industry is the largest revenue generator for the commercial gas market in Belgium, accounting for roughly 45.8% of the market, which equated to $340.6m in revenues. Sizeable contributions to the gas market are also made through sales of gas to the metallurgical (22.9%) and manufacturing (15.2%) industries. The rest of the end-user market is fractured with no other industry being responsible for more than 6% of revenue streams.


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Gas Market Growth and Forecast

  • Macro Economic Forecast
  • Gas Intensity Forecast
Year:,Macro Economic Forecast,Gas Intensity Forecast 2000,244.8,244.8 2001,255.1,255.1 2002,284.7,284.7 2003,414.8,414.8 2004,532.1,532.1 2005,563.6,563.6 2006,638.8,638.8 2007,826.0,826.0 2008,958.9,958.9 2009,812.0,812.0 2010,818.0,818.0 2011,903.0,903.0 2012,767.0,767.0 2013,808.1,808.1 2014,831.3,831.3 2015,652.5,652.5 2016,681.3,681.3 2017,712.1,712.1 2018,767.9,767.9 2019,743.1,743.1 2020,713.8,715.4 2021,716.6,719.8 2022,730.2,735.2 2023,751.1,757.9 2024,771.7,780.7
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Our macroeconomic forecast for the industrial gases business is based on the increase in gas demand by end user sector (using industrial productivity metrics supplied to us by Global Insight Inc.). The gas intensity analysis is based on historical consumption and industrial gas intensity trends. The latter also takes account of any market intelligence relating to new capacity and/or specific industrial projects uncovered during the course of our market research.

Within the 2019-2024 timeframe, our forecast models predict growth from 0.8% p.a. in a low scenario to 1.0% p.a. in a high scenario. Accordingly, the industry in Belgium is expected to achieve revenues of between $772m to $781m by 2024.


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Tile Legend:

  • Parent Company: the company that owns the plant
  • Customer: the company or companies receiving the gas for their use
  • Plant Type: the gas produced at the plant e.g. oxygen
  • Industry: the industry the customer operates in
  • Supply Type: supply scheme (on-site/pipeline), captive (customer owned) or merchant
  • City: the city that plant is located in
  • Start: the year the plant started operating
  • Units for each gas: GOX/LOX, GAN/LIN, GAR/LAR, CO2/LCO2 - tpd (tonnes per day). H2 - Nm3/hr
  • Plant Builder: the company that built the facility

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Gas Production Facilities

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