The global market for the industrial gas business was worth $63 billion in 2008. It decreased to an estimated $59 billion in 2009, but is projected to increase at a compound annual growth rate (CAGR) of 5.2% to $76 billion in 2014.
Sales in the chemicals and refining-related processing market amounted to $22.7 billion in 2008, and decreased slightly to $22.4 billion in 2009, but are expected to reach $27.5 billion in 2014, for a 5-year (CAGR) of 4.1%
The second-largest segment of the market, metal manufacturing and fabrication, was estimated to be worth $17 billion in 2008 and was expected to decrease to $14.5 billion in 2009. It’s projected to grow to more than $20 billion in 2014, for a 5-year CAGR of 6.7%.