China is the world’s super-duper fastest growing economy of the present century. Chinese latent Industrial Gases too started growing with quite comparative growth rate as concerned in Northern Pacific Rim. China is far better known for maintaining double growth rate in the economical crisis season also. Chinese multi-billionaire economy has observed so many Industrial changes in last decade.
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Just two years before Chinese gases economy was just $ 1bn and today it has crossed over $ 4.5bn. Strong & anonymous rise in the Industrial Gases market in the Chinese territory. Growth rate goes up as compared with Japan’s economy which is still struggling & reeling under the effects of disastrous earthquake. Increase of the merchant gases biz is Pacific Rim region basically due to boost in numbers of Steel & Semiconductor industries. Japan remains the topmost market for Industrial Gases but under deep shadow of 2011 earthquake. Terrible decline in the Japanese region is unexpected but loss to big majors & taxing policies can’t be negotiated under development stage. Pros & Cons of the Chinese market say it has just stepped a ladder of heaven. Manufacturing hub of the world is supposed to be one of the major reasons of Chinese sudden development. If we take the examples of western firms, most of them have set up the offices in Chinese territory. On contrast to equipments market, Chart Industries & Taylor Wharton the main Cryogenics vessels manufacturing firm from USA have base in China also. Similarly in Gases domain also Praxair China & Air Products China is the key Chinese Industrial Gases producers.
According to the forecasted figures given by Gas World, Chinese economy will overtake Japan market by 2015 if we go with 15 percent of annual growth rate. China is also experiencing huge exposure of Globalization & Privatization as India did in 1990. Just because of policies change, foreign players entered in the market & registered massive profits and market share. Once upon a time, Yingde Gases was the only company in China to be the major supplier for Industrial gases, its still maintaining the on-site largest gases supplier in Chinese province. Yangzhou, Nanjing & Beijing are the few places where bulks on site gases suppliers have their presence. In earlier times, China has already crossed Germany & heading with positive natural growth. The flux of the growth rate is being so matured that it may hit back US someday. As optimistic analyst, I’m looking Chinese double digit growth rate may impact the entire Asian economy. Since European & American markets are still in the weaken state to get on track.
Perhaps 2011 may end up China with $ 5-6bn market size. Traditional market size of China is long lasting & pretty fertile to revamp the positive signal across the Asian economies.
Market Information: Spiritus Database, Image Source: modelsagents.blogspot.com
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