Regional markets: The Middle East industrial gas market in 2022


It’s been five years since gasworld last shone the spotlight on the Middle East industrial gases business as part of its regional markets feature. In that period, much has changed about both the region and its standing in the global industrial gas market, despite the interruption of a global pandemic that curtailed many conventional means of doing business.

The Middle East gases business has long been anticipated as one of the most promising of emerging markets for the industry, and continues to march forward as such. According to gasworld Business Intelligence, the Middle East accounted for just over 3% of the circa $95bn global industrial gases market in 2022, valuing the region’s commercial gases business at just under $3bn last  year (2022).

It’s a market that faces further considerable change and challenge ahead, as it faces up to decarbonisation and the build-out of tomorrow’s successful value chains, and gradually de-leverages from its largely fossil fuel dependence of old. This carefully managed shift is already underway and brings with it an evolution at the stakeholder level, with several ‘mega projects’ established in the Middle East in recent years, chiefly in the dominant Saudi Arabia market. 

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...