www.gasworld.com/intelligence NOAM-USAS-2016-970

www.gasworld.com/intelligence

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NOAM-USAS-2016-970

Abbreviations and Acronyms ASU

Air Separation Unit

LAr

Liquid Argon

OSP

Onsite supply/pipeline supply mode

LCO2

Liquid Carbon Dioxide

Bulk

Bulk liquid mode

H2

Hydrogen

SB

Plant on Stand-by

O2

Oxygen

NK

Detail not known

N2

Nitrogen

OP

Plant operating

CO2

Carbon Dioxide

CL

Plant closed

Ar

Argon

UC

Plant under construction

JV

Joint Venture

PL

Plant confirmed and planned

EOR

Enhance Oil Recovery

tpd

Short tons per day

Special Gas Facility / Plant

Nm3/hr

Normal cubic metres per hour

Helium trans-fill facility

GOX

Gaseous Oxygen

Cylinder-fill facility

GAN

Gaseous Nitrogen

Acetylene

LOX

Liquid Oxygen

LIN

Liquid Nitrogen


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Contents

1.0 Introduction ............................................................................... 4 1.1 Background ............................................................................ 4 1.2 Objectives .............................................................................. 4 1.3 Definitions .............................................................................. 4 2.0 Potential Merger Summary: Praxair and Linde .......................... 6 3.0 North America ........................................................................... 8 3.4 US ........................................................................................ 13 3.7 Canada ................................................................................ 43 3.8 Mexico .................................................................................. 48 3.9 Puerto Rico .......................................................................... 54 3.10 North America Plant Database ........................................... 56 4.0 South America ........................................................................ 62 4.18 South America Plant Database ........................................... 88 5.0 Europe .................................................................................... 99 5.10 Europe Plant Database .................................................... 141 6.0 Asia ....................................................................................... 158 6.4 Asia Plant Database ........................................................... 177 7.0 Global Helium Business ........................................................ 193

Disclaimer The following report is for the exclusive and confidential use of the Authorised Recipient(s) or Organisation to whom it is addressed. This report must not be copied, reproduced, distributed in whole or part, neither by paper nor electronic means, to any other party other than the Authorised Recipient without the prior written consent of gasworld Ltd. This report has been prepared to provide information on the industrial gases business and/or to assist the recipient in its decision making process. gasworld Ltd warrants that all work carried out for this report was undertaken in good faith. No representation or warranty, either expressed or limited, is made as to the reliability, completeness or accuracy of this report. No responsibility or liability whatsoever is accepted by any person including gasworld Ltd, its respective officers, employees or associate consultants for any errors or omissions in this paper. It is for the Recipient to decide what action to take based on this work without redress to gasworld Ltd for the consequences for such action.

8.0 gasworld Business Intelligence Services .............................. 198


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1.0 Introduction 1.1 Background double-counting that occurs with some wholesaling business and so the data we have provided should represent the retail market.

gasworld’s Business Intelligence service combines in-house generated capacity databases and analytical skills with considerable editorial resources in order to provide up-to-date information on the market size and supply structure of the industrial gas sector in a number of countries and regions around the world. The “gasreports” series of country proﬁles thus aims to support future business and strategic decisions within the industry by providing timely and valuable data. Each report contains a 10year history and 5-year forecast of the respective gas markets.

Base Year The base year for the report and the market data presented within the report is 2015 (where not stated otherwise).

This report has been prepared by gasworld and relevant consultants who have had direct involvement in the region being researched. It will provide a good overview of the size and structure of the commercial gases business in North America. 1.2 Objectives The objective of the study is to provide an independent summary of the structure of the industrial gases business in around the world, with specific comments made to the Praxair-Linde merger.

1.3 Definitions Size of Market Our deﬁnition of the size of the industrial gases business is based on the value of the supply of industrial gases and related services to the end-user and does not include third party equipment sales or plants owned and operated by the end-user. We have also attempted to address the possible


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1.4

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Global Executive Summary

In 2015, the global industrial gases market was valued at $71.6bn, down by 8% on 2014. This was chiefly due to negative currency impacts and lower energy pass-through.

Vestibulum in posuere lectus. Maecenas molestie mauris ut lacus interdum, non sodales ligula sagittis. Donec sit amet lacinia est. Integer faucibus urna eget fringilla finibus. In hac habitasse platea dictumst. Aliquam vitae ligula eu elit lobortis tristique. Morbi mattis, sapien sed semper aliquet, erat felis malesuada lectus, in malesuada odio odio sit amet felis. Maecenas id scelerisque massa. Quisque dictum ornare massa. Duis libero lectus, sodales quis dictum a, tempor in diam. Nulla aliquet, elit quis condimentum luctus, augue lorem mattis velit, nec fermentum nisi metus a massa. Maecenas rutrum imperdiet arcu, quis suscipit enim venenatis vel. Mauris vel vestibulum velit.

The Gas Business Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam at sagittis massa, eget tempus nulla. Suspendisse commodo nulla quis volutpat vulputate. Praesent risus ligula, venenatis a diam vel, lobortis luctus ex. Proin consectetur lorem in aliquam vestibulum. Integer ullamcorper dapibus orci sed vestibulum. Quisque lacinia non ex vitae volutpat. Nulla semper luctus venenatis. Phasellus maximus mi vel dolor consectetur, vel venenatis neque pulvinar. Sed rhoncus, diam in suscipit aliquet, enim dolor interdum diam, pulvinar suscipit velit sapien a eros. Proin iaculis finibus enim nec pretium. Vestibulum quam magna, faucibus ac feugiat condimentum, viverra quis dolor. Integer fringilla enim et nibh sodales, quis

Sed vitae

Commentary on global markets shares for 2015, how the Air Liquide/Airgas acquisition will impact market shares, and the potential effects of the Praxair/Linde merger…

aliquam sapien, sed ullamcorper ex. Aliquam tempus elit augue, sed cursus sem blandit ut. Phasellus vel ligula sollicitudin ante egestas dignissim. Morbi finibus suscipit dictum. In non finibus sem. Maecenas ut feugiat sapien. Donec nec ornare libero, viverra vulputate metus. Maecenas euismod sapien quis finibus volutpat. Etiam nunc urna, consequat a euismod non, sollicitudin eget purus. Maecenas sed finibus leo. Ut tempus et erat non accumsan.

placerat augue interdum. Suspendisse mi nulla, venenatis non sodales vel, maximus vel augue.

Etiam efficitur dui eget interdum accumsan. Nam varius tristique tortor, ut fermentum tellus interdum nec. Curabitur quis tortor non nibh feugiat varius. Vestibulum ultricies placerat.

Donec tortor arcu, pulvinar mattis sapien sit amet, ornare faucibus massa. Maecenas pretium, tellus sed interdum imperdiet, neque ante consectetur quam, quis tincidunt velit ipsum quis mi. Sed consequat arcu sit amet odio porta, at fringilla sapien condimentum. Donec fringilla dui a scelerisque congue. Cras sit amet porttitor dolor. Suspendisse dui urna, malesuada in


Commentary on global markets shares for 2015, how the Air Liquide/Airgas acquisition will impact market shares, and the potential effects of the Praxair/Linde merger…

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2.0 Commentary on Proposed Merger (LindePraxair)

Interestingly, there was a lot of speculation related to merger and acquisition (M&A) activity within the industrial gases business in 2004/5 – varying from BASF’s desire to acquire BOC to other companies looking to buy The Linde Group. It would be fair to say that the Linde Board had a choice at the time – buy or be bought. The Linde Group opted to acquire and, having researched the options, agreed in early 2006 to make a friendly approach to acquire the BOC Group. This was subsequently completed in September 2006.

There is an expression ‘what goes around, comes around,’ and its truth applies to the breaking news of a potential merger between Praxair, Inc. and The Linde Group. Here, gasworld Business Intelligence explores the history and potential future between the Tier One players. The roots to this date back to the First World War, when German company Linde AG were forced to exit the US gases market – having entered in the early 1890s. Following the war, Linde Air Products’ assets were confiscated and sold to Union Carbide in 1919, which included the rights to use the Linde name in the US. From 1963, the industrial gases arm of Union Carbide was better known as ‘The Linde Division.’ It was in 1992, when Union Carbide decided to spin off the gases division, that the Praxair Division was formed. It was only in 1998 that The Linde Group bought back the licence to use the Linde name again in the US.

So, what now for the global business and for the US? Firstly, our industry continues to face challenging times – with low growth forecast for the next few years, low energy costs and lower project activity, to name a few. Praxair’s shares have come under pressure of late, with analysts preferring the turnaround success of Air Products to the performance of Praxair. The Linde Group has fully integrated BOC operations essentially, as well as that of its more recent acquisition, Lincare. However, the time could be right after the recent move by Air Liquide to acquire Airgas. Following the latest appointment of Professor Wolfgang Reitzle as Chairman of the Linde Group – analysts know he is a deal maker from both his “automotive days” and more recently with the Linde-BOC deal.

However, the two companies have been serious competitors. This was first seen in 1999 when Praxair and BOC began merger talks – although they quickly failed – but lead Praxair to move into merger talks with Swedish gases company, AGA. Worried that his company would be left behind in the growing global gases business, the CEO of Linde Group made a cash offer for AGA to counter the merger with Praxair. Linde came out top and the deal was completed in 2000.

Can such a deal be done? James Barr, Senior Business Analyst in gasworld’s Business Intelligence Unit, says, “The deal would present some significant anti-trust issues in some regions and countries around the world.” Having recently completed an assessment report of the Air Liquide-Airgas deal, in which 18 air separation units (ASUs), six carbon dioxide (CO2) plants and few other business assets needed to be divested, Barr continues, “The US would present one of the largest hurdles for the

Since the spin off in 1992, Praxair has been and remains the most performance-driven gases company. It not only improved its financial performance through the 1990s, but in the first decade of 21st century Praxair was the leading performer in the industrial gases space.


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GLOB-PRIM-2016-SAMP

merger to happen – particularly at the on-site level but also across some regions in the merchant gases business as well.”

on the potential impact of the merger and the regional dynamics within the US, rather than the US as a whole. For the other the markets that may come under the investigation of anti-trust authorities, we have analysed these on a country, or regional level.

The facts speak for themselves. The Linde Group would have gas sales of around $16bn worldwide compared to Praxair’s $10bn. Combined this would give them 33% market share, assuming that no divestments are necessary. However, Barr commented that there would be divestments made in North America, parts of South America, in Europe and also in Asia. “The merger is possible but it would be complicated,” he stated.

Provisionally, we see an overlap in gas sales of over $2bn globally, but we have also provided maps (see following pages) of various assets that would be reviewed by the FTC and other anti-trust authorities if these merger talks continue.

The largest anti-trust pressure would come in the US, where the corporation’s combined market share would exceed Air Liquide’s current market share of 28% by eight percentage points, again assuming that no divestments are necessary. However, the Federal Trade Commission (FTC) would have regional issues across the US, which could result in some significant revenues being divested. There are other complications associated with this potential merger to take into consideration. Firstly, the FTC would look at who has the capability to acquire the required divestments – could a competitive market be maintained in the US? Secondly, there is a strategic difference in the homecare sector, what with Praxair having divested its Homecare business and Linde having invested heavily, both in the US and in Europe in recent years. Thirdly, what would happen with Linde Engineering? To The Linde Group, this is core and part of the company’s DNA, whereas Praxair have outsourced much of its plant build and engineering capability. As we have mentioned, the discussion over the merger will focus on a number of countries where there is an overlap of more than 40% market share. The FTC would view the tie up in the US on a more localised rather than a national basis, hence we have focused more analysis in this report


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3.0 North America

The section details the analysis of North America (including the United States, Canada, Puerto Rico and Mexico). For each region, the total market shares by company for 2015 is given, alongside the estimated market share by company in 2016. The 2016 market shares take into account the already completed Airgas/Air Liquide transaction (including divestments), and also combines the forecast market shares of Linde and Praxair. Locations and details of plants with possible production overlap are also detailed, on a country and regional basis. 1

NOTE: all reference made to 2016 market shares in this report assume merger happens and does not include any potential divestments.


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Duis vulputate mollis aliquet. Nullam congue metus risus, nec commodo tortor vehicula at. Aenean finibus quam erat, ac ultricies ex molestie a. Quisque a augue sem. Morbi euismod eros nibh, sit amet laoreet ipsum sagittis non. Etiam at enim nisi. Ut turpis ante, maximus quis posuere non, consectetur sed purus. Cras vehicula tempus sem quis pharetra. Donec quis facilisis purus. Suspendisse dolor ipsum, fermentum eu mi ac, scelerisque molestie purus. Nulla et molestie purus. Mauris augue nulla, aliquamCommentary nec tempus vitae, vel justo.shares Sed in vestibulum onconsequat global markets for 2015, lectus. Maecenas eros odio, sollicitudin eu fringilla vitae, accumsan ac elit. how the Air Liquide/Airgas acquisition will impact

3.1 North America Executive Summary 2015/2016 In 2015, the North American market was valued at $23.1bn, down from around $24.1bn in 2014. A large proportion of this can be attributed to currency fluctuations, which hit the gas markets of Canada and Mexico particularly hard. The economy (in current dollars) in the region has fared well over the course of the last five years, posting an average growth rate of 3.0% p.a. However, this is largely due to the effect of the US economy, which is vastly larger in comparison to the declining economies of Canada and Mexico.

market shares, and the potential effects of the Praxair/Linde merger… Nullam eget mauris non libero rhoncus volutpat ac id arcu. Pellentesque eu auctor mi. Donec viverra mi et tortor fringilla, tincidunt cursus lorem luctus. Donec euismod id augue id dictum. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Nullam ultricies luctus egestas. Praesent sed massa vitae ligula fermentum convallis sit amet fringilla nunc. Fusce ultricies orci sed justo viverra, eu aliquam nulla dignissim. Cras sed libero ultrices elit porttitor volutpat. Sed vehicula quam eget gravida gravida. Quisque porttitor pulvinar ante, eu consequat dolor rutrum non. Curabitur non semper nisi, congue semper nisi. Praesent vulputate erat vel mi finibus dapibus. Morbi bibendum lorem quis g

The Gas Business Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut non lacus lacinia, vulputate sapien sit amet, fermentum ipsum. Proin facilisis, urna sit amet euismod commodo, nunc lacus rhoncus sem, sed porta risus eros vel erat. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce vel lacus mollis, varius sem ac, efficitur nisi. Nulla facilisi. Fusce quis metus sed nulla

Commentary on North America market shares for 2015, how the Air Liquide/Airgas acquisition will impact market shares, and the potential effects of the Praxair/Linde merger…

The Future gasworld’s five-year forecast for the US has been lowered from 4-5% p.a., down to 1.5%-3% p.a., up to 2020 - chiefly due to the expected lower energy prices and also demand for industrial gases.

convallis dictum. Sed eget consequat ligula, sed facilisis sapien. Sed pharetra porttitor tempus.


The other two main markets in the region, Canada and Mexico, are expected to experience solid growth in the coming years. We forecast that Mexico will experience averaged annual growth of between 3.1% p.a. and 3.4% p.a., with Canada lower at between 1.4% p.a. and 3.2% p.a.

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3.2 Executive Summary – Market Share 2015 United States Market Share 2015 Canada Market Share 2015

Puerto Rico Market Share 2015

Mexico Market Share 2015


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3.4.1 Executive Summary – Market Share 2015 Rocky Mountain Market Share 2015

Great Lakes Market Share 2015

Plains Market Share 2015

West Coast Market Share 2015

Mid-Atlantic Market Share 2015

South East Market Share 2015

South West Market Shares 2015


New England Market Share 2015

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3.4.2 Regional Market Share by Supply Mode – Praxair and Linde

Praxair Linde Others Total

US Region New England

Mid-Atlantic

Great Lakes

South East

Comments

Comments

Praxair Linde Others Total

US Region Onsite

XX%

XX%

XX%

100%

100%

Bulk

XX%

XX%

XX%

100%

XX%

100%

Packaged XX%

XX%

XX%

100%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

XX%

XX%

XX%

100%

Onsite

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

100%

Packaged

XX%

XX%

XX%

100%

Packaged XX%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

Onsite

XX%

XX%

XX%

100%

Onsite

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

100%

Packaged

XX%

XX%

XX%

100%

Packaged XX%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

Onsite

XX%

XX%

XX%

100%

Onsite

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

100%

Packaged

XX%

XX%

XX%

100%

Packaged XX%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

Other

XX%

XX%

XX%

100%

Onsite

XX%

XX%

XX%

100%

Bulk

XX%

XX%

XX%

Packaged

XX%

XX%

Other

XX%

Onsite

Plains

Rocky Mountains

South West

West Coast

Values highlighted in yellow indicate a potential anti-trust issue.


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3.4.4 Praxair and Linde Merchant ASUs

Linde Plant Praxair Plant DivestCo Plant


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3.5 US Regional Analysis The section details the analysis of all eight regions of the United States. For each region, the total market shares by company for 2015 is given, alongside the estimated market share by company in 2016. The 2016 market shares take into account the already completed Airgas/Air Liquide transaction (including divestments), and also combines the forecast market shares of Linde and Praxair. Locations and details of plants with possible production overlap are also detailed, on a regional basis. 1



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3.5.1 Region 1

Market Share by Gas Company ($xxxm)

Incorporating: XXX Region 1 is home to the XXX industrial gas market in the US. The region’s industrial gas market generated revenues of approximately $XXX million in 2015. This is a decrease of over X% on 2014. XXX will become the market leader in 2016. Over the past few decades, XXX has established a leading position in the region’s merchant market, and with no divestments being made in XXX, all assets, customers and distribution partners will transfer to Air Liquide with the transaction. Air Liquide will gain one of the most efficient standalone ASU facilities at XXX. 

The largest share of the commercial industrial gases business in the XXX region is enjoyed by XXX. The company’s bulk and packaged gases business have allowed for a total market share of approximately XX% in 2015.



The possible merger between Linde and Praxair would result in combined market share of XX%, before any divestment.



It is possible that the XXX ASU in XXX, XX, may be divested. However, this is the only asset in the region that we believe may come under scrutiny.


Market Share 2016 (forecast)

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3.6.0 US CO2 Market Dashboard – 2015/2016

US CO2 Market Share by Installed Capacity 20161 c.42,500tpd

US Co2 Market Share by installed capacity 2015 c.42,000 tpd

Carbon Dioxide Market Value 2000-2015 $m

3250 2750

2250 1750 2000

1

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Assuming merger goes ahead – excludes any potential divestment


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GLOB-PRIM-2016-970

Table 3.10: Major ASU plant database (tpd) – Praxair and Linde in Canada and Mexico Company

Location

Linde

Kamloops

1997

Start

OP

XX

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

xx


Status

GOX

GAN

Liquid

Argon

Comments Supply Scheme - customer xx xx

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4.0 South America The section details the analysis of South America (including Brazil, Argentina, Venezuela, Colombia, Chile, Peru and Uruguay). For each country, the total market shares by company for 2015 is given, alongside the estimated market share by company in 2016. The 2016 market shares combine the forecast market shares of Linde and Praxair. Locations and details of plants are also detailed, on regional basis. 1



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4.2 South America– Market Share 2015

Venezuela Market Share 2015

Colombia Market Share 2015

Brazil Market Share 2015

Uruguay Market Share 2015

Peru Market Share 2015

Argentina Market Share 2015

Chile Market Share 2015


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4.4 Brazil

Brazil Market Share 2015

The industrial gas market of Brazil is valued at just over $X.Xbn in 2015. Currency fluctuations have hit the market hard, with a XX% decline from revenues in 2014. However, when adjusted for currency the growth rate in Brazil actually stood at XX%. The Brazilian industrial gases market is dominated by the wholly owned subsidiary of Praxair, White Martins. The company has a strong presence in all lines of business in the country, and is estimated to have generated revenues of approximately $XXX million in 2015. Air Liquide have been active in the country since 1945, and operates a large number of cylinder filling locations across the country. This has enabled Air Liquide’s packaged product to be available in over XX% of Brazil’s vast territory. In 2015, we estimate that the company’s sales amounted to $XX million.

Brazil Market Share 2016 (forecast)

The third largest company (by sales) active in the country is Linde, who control a share of around XX% of the market. Air Products are the fourth major player active in Brazil, with revenues of $XXX million. 

The largest independent company in Brazil is Industria Brasileira de Gases Ltda, with the company successfully developing a strong client base, as well as a number of production units, since its inception in 1992.



In 2016, Praxair brought a supply scheme ASU on-stream. This plant was constructed for Companhia Siderugica Paraense in the state of Ceará.



Air Liquide have also been active in the country recently, bringing a supply scheme ASU of its own on-stream in 2016.


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5.0 Europe


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5.2 Group 1 Summary

Revenue by Supply Mode

Incorporating: XXXX The total industrial gas market generated revenues of approximately €XXbn ($XXbn) in 2015. This is a slight decrease of 0.7% on 2014. Industrial gas revenues in the region are mainly generated through the sale of gas through packaged delivery methods. A further €X.Xbn ($X.Xbn) in revenue is generated via the sale of bulk liquid. Onsite methods contribute approximately XX% in revenue, however this delivery method does account for a larger portion of XXX revenues. 

XX are currently the market leader in the region with a XX% market share. This is largely due to the company’s dominance in the XX market.



The second largest industrial gas company in the region is XXX with a XX% market share. However, this share of the market would increase to XX%, prior to any potential divestments. This is largely a result of XXX substantial market share in XXX and XXX.



XXX are the third largest company in the region, with revenues amounting to €XXXm ($XXm). Over half of these revenues were generated in the XX market, where the company operates through subsidiary company, XXX.



The final Tier One company with operations in Western Europe is XXX, with a X% market share. Just under half of the company’s revenues are generated through the sale of packaged in XXX.


Market Share by Gas Company

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5.9 Companies in focus

This section details some of the specific companies/businesses that may generate interest as part of the Praxair/Linde merger in Europe.


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5.10 Europe Plant Databases

This section detail every known production facility operated by Praxair and Linde in Europe.


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5.10.1 ASUs, and dedicated oxygen and nitrogen plants Company

City

Country

Linde

Montereau

France


Start XX

Status

GOX

OP

XX

25

GAN XX

Liquid

Argon XX

X

Comments Supply Scheme/Merchant

GLOB-PRIM-2016-970

6.0 Asia

This section details the countries in Asia that may pose anti-trust issues in relation to the Praxair-Linde merger.


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7.0 The Global Helium Business This section details the Global Helium Business and the potential merger between Praxair and Linde. This section was published in conjuction with Kornbluth Helium Consulting, LLC. www.KornbluthHeliumConsulting.com Email: [email protected] Tel: +1 (908) 745-9779


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GLOB-PRIM-2016-970

7.1 Regulatory Overview – Helium Business

Market Shares Of Helium Majors

While much of the early attention has been focused on the overlap between the merchant gases businesses of Praxair and Linde, both companies are major players in the Global Helium Business and helium will undoubtedly receive significant scrutiny by the regulatory authorities before the merger is approved. Helium Tends to be Viewed as a Global Business Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vestibulum tristique Global helium market analysis… felis id augue iaculis, vitae tristique mi auctor. Etiam rutrum, enim et cursus tempor, arcu libero sagittis magna, id consectetur nisi mauris vel urna. Maecenas venenatis mollis augue, in posuere erat lacinia in. Sed ultrices, libero iaculis volutpat mollis, sapien odio fermentum neque, eu semper magna est vel felis. Nulla varius quam posuere nisi pellentesque, id suscipit libero aliquam. Fusce ut nisi vel lorem rhoncus viverra vitae non dui. Aliquam erat volutpat. Sed vitae sem et erat tempor volutpat sit amet in lacus. Integer nisi odio, tincidunt sed lacinia vel, maximus non diam.

Vivamus hendrerit tortor non dui tincidunt condimentum. Quisque id Global helium market venenatis mi. Quisque nonanalysis… accumsan risus. Sed vestibulum, tellus in gravida porttitor, ipsum quam viverra risus, id ultricies urna leo sollicitudin magna. Aliquam mattis lorem non neque finibus, et rutrum elit commodo. Duis vel luctus nisl. Vivamus placerat tincidunt posuere. Ut finibus ac lorem vel suscipit. Donec elit elit, pulvinar ac bibendum eu, feugiat id lorem. Sed eu mi eget lectus efficitur tincidunt ac dapibus sem. Sed dignissim purus at elit blandit, ut bibendum sem euismod. Quisque egestas scelerisque metus. Phasellus sit amet justo lectus.

Nulla iaculis massa ut lorem efficitur, in gravida est pharetra. Ut blandit enim dictum pretium porta. Morbi vel justo eget risus ornare vestibulum. In at dignissim dui. Suspendisse nec augue cursus, egestas arcu a, sodales libero. Pellentesque eget convallis libero, non commodo velit. Aliquam non gravida justo. Nullam faucibus blandit tempus. Integer egestas, neque at tincidunt rhoncus, ex dui dictum purus, pharetra rhoncus augue magna eget arcu. Maecenas at tincidunt libero. Cras pharetra sagittis sollicitudin. Pellentesque sed consequat nunc, congue pellentesque lorem.


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8.0 gasworld Business Intelligence Services For more information on the eight regional industrial gas markets of the United States, subscribe to Business Intelligence Online: North America. Each regional dashboard contains:        

Macroeconomic drivers Market shares by company Market shares by supply mode Market shares by gas End user market shares Regional gas market forecasts Interactive capacity maps ( ASUs, CO2, HYCO) Interactive cylinder filling location maps

All data featured in our dashboards is available to download – helping our customers to filter, search and analyse our extensive databases in their own, bespoke manner. gasworld business Intelligence online also provide analysis of most other industrial gas markets across the globe. Including:  All European markets,  Africa  Middle East  Central Asia  South East Asia  Japan  South Korea  India  Australia For more information on any of our services, please contact [email protected], or call +44 1872 225031.


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