The Mid-Atlantic Report


The Mid-Atlantic region, where nearly all of the majors – Air Products, Messer, Airgas, MATHESON – have their headquarters, is the fifth largest industrial gas market in the US. Revenues amounted to just under $2.3bn in 2018 – up from $1.46bn in 2008 – indicating an average annual growth rate of 4% for the decade. This was a jump on the average annual growth rate of 3.3% in revenues, for the decade 2006 to 2016.

In 2018, the largest industrial gas company in the Mid-Atlantic region was Air Liquide, with revenues of $599m translating into a market share of just under 27%. Air Liquide, which acquired US subsidiary Airgas in 2016, has refrained from adding any substantial production capacity in the region with the most recent commissioning coming in 2004. However, there is an Airgas air separation unit (ASU) planned to come on-stream in 2020 in Pennsylvania.

Praxair was a close second to Air Liquide, with sales of $590m, and a market share of 26.1%. The third major with operations in the Mid-Atlantic was Linde, with a market share of 15.3%. Air Products and Matheson had more marginal shares of 7.9% and 5.6%, which equated to revenues of $179.4m and $127.2m respectively. The rest of the market (18.5%) consisted of independent producers and distributors.

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