A specialty gas event held by local Chinese publisher Gas Ecosphere yesterday (May 20) saw the gathering of industrial gas experts.
The one-day even boasted an impressive speaker line-up including representatives from the likes of SIAD China, Electronic Fluorocarbons, Guanggang Gas and gasworld’s own Publisher and CEO, John Raquet.
Speaking virtually at the event, Raquet discussed the global gases business, what the impact has been through the coronavirus (Covid-19) pandemic and what the next five years may look like.
According to Raquet, the industrial gas industry in 2019 reached US$77bn, excluding equipment, wholesaling gases between gas companies and distributors, welding consumables and hard goods.
In 2020, Raquet estimates that the market totalled US$74bn – a decline of 4.5% on 2019 and is mainly the result of lower global economic activity impacted by the pandemic.
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