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The industrial gas market in China is full of vitality. Several large-scale gas installations will be put into production in recent years. Linde has planned to invest 125 million U.S. dollars to build 2 air separation plants in Ningbo. According to the long-term agreement, the company will supply gas to Ningbo Wanhua Polyurethane Company since 2010. Air Liquide has recently planned to build four air separation plants in Asia to supply gas to a South Korean steel producer and China Shenhua Coal Industry Group. Air Products has signed a long-term gas supply contract with China Guofeng Iron & Steel Co., Ltd., and its air separation unit in Tangshan, China will be put into operation in the second half of the year. Praxair also recently signed a 15 year oxygen and nitrogen supply contract with Jinlong Copper in Tongling, China.
In 2007, global industrial gas sales reached 55.4 billion U.S. dollars, an increase of 7% over 2006. Top-tier industrial gas producers such as Air Liquide, Air Products and Praxair have all enjoyed double-digit growth in 2007. In the past few years, the energy industry has been the main source of business growth for industrial gas companies. The demand includes nitrogen and oxygen for enhanced oil recovery and hydrogen for refineries. Due to high oil prices and increasingly stringent environmental regulations, it is expected that the demand for this industry will continue to grow in the coming years. Praxair is the largest gas supplier in North America. The company’s 2007 sales in the energy industry increased by 30%.
Air Products said that the demand for nitrogen in the US oilfield service industry has increased by 30%. The company’s new nitrogen plant in Mexico was put into use at the end of 2007 to supply nitrogen to Pemex, and the company is also considering expanding its nitrogen production capacity in Kentucky and North Carolina in the United States in the second half of the year. Praxair plans to transform its oxygen delivery system in the Gulf of Mexico to meet the growing demand for clean fuels and wastewater treatment.
The new coal-fired process uses oxygen instead of air to make coal more fully burnable and conducive to reducing greenhouse gas emissions, expanding the market space for oxygen. According to relevant sources, this technology will usher in greater opportunities for development in 2015. Praxair has formed an alliance with Foster Wheeler last year to develop clean coal technology. The technology will include Praxair's new coal-fired process for coal-fired power plants. Air Liquide and Air Products are also developing and using this technology.
The demand for the hydrogen market is also very strong, and its scale will expand significantly in the next five years. This will be mainly driven by environmental regulations, oil sands processing, and natural gas to synthetic oil and coal gasification projects. Praxair plans to build a new hydrogen production facility in Richmond, California, to supply hydrogen to Chevron's refineries under a 15-year supply contract. Air Liquide has doubled the amount of hydrogen sold in the United States since 2000. In 2007, the company plans to invest 140 million euros to expand its ability to produce, store, and use pipelines to supply hydrogen to the Gulf Coast hydrogen system. Air Products will supply hydrogen to Petro-Canada through its new hydrogen plant in Edmonton, Canada, in the second half of this year. Linde's hydrogen plant will be commissioned in 2009 to supply hydrogen to BASF's production facilities in Ludwigshafen. Some gas producers are also preparing to use hydrogen as a transportation fuel, and Air Liquide, Air Products and Linde have invested in hydrogen filling stations.
In addition, emerging markets are becoming potential industrial gas players, and the demand for specialty gases by the electronics industry manufacturers is also increasing. Air Liquide's investigation shows that the average annual growth rate of demand for specialty gases in the photovoltaic market is about 30%. The company recently signed a 10-year contract for supply of industrial gases and specialty gases with a German PV company. Air Products' new installation in Germany will also be put into operation this summer to supply thin-film PV producers. The company has become the sole gas supplier for some electronics companies in China, South Korea and India.
The rapid development of the health care industry has also contributed to the growth of the industrial gas company's business. Air Products said that its sales in the health care and home care businesses are growing at a double-digit rate, and it has been particularly rapid in the European market. Praxair's $1 billion/year health care business is growing in markets outside the United States. It is expected that China will also become an important market for home care products in the next 20 years.
Global industrial gas industry is booming
At present, the global industrial gas industry is developing rapidly. China's huge market space adds a bit of vitality to the industry that is in the golden profit period. While top manufacturers are sticking to the energy industry, they are constantly opening new development opportunities.