Industrial Gas Market - U.S. Industrial Gas Exports Bounce Back, Holding the Leading Share in the Global Trade
Natural Gas July 13, 2016
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The U.S. dominates in the global trade of industrial gas, accounting for an 18% share (based on USD) of world's exports. It was followed by China (11%), the United Arab Emirates (11%), and France (7%). In 2015, the U.S. exported 604 million USD on the industrial gas market, which was 11% over the previous year's value.
With the exception of a slight decline in 2009, U.S. industrial gas exports showed steady growth from 2007 to 2012, until it flattened in 2013. 2014 was marked by another slight decrease, with exports bouncing back in 2015. In 2010, U.S. industrial gas exports surpassed their pre-recession level of 2008.
Domestic manufacturers enjoyed a new growth driver over the past decade, as U.S. companies improved their positions on overseas markets. However, that driver lost its momentum in the last three years.
Korea (17%), Japan (15%), Canada (11%), and Mexico (11%) were the main destinations of U.S. industrial gas exports in 2015. The shares exported to Korea and Mexico increased (+6 percentage points and +3 percentage points, respectively), while the shares sent to Japan (-4 percentage points) and Canada (-4 percentage points) illustrated negative dynamics from 2007 to 2015.
From 2007 to 2015, the U.S. was a net exporter of industrial gas. However, imports grew faster than exports on average over the period under review. Prior to 2013, net U.S. exports of industrial gas showed a consistent upward trend, but this trend turned into a steady decline over the last three years. Nevertheless, this industry still ran a notable trade surplus of 315 million USD in 2015.
Do you want to know more about the U.S. industrial gas market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- industrial gas market share
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- industrial gas price forecast
- key industrial gas producers
Source: U.S. Industrial Gas Market. Analysis And Forecast to 2020
