In the five years through 2013, the China industrial gas manufacturing market and basic chemical manufacturing industry has been growing at an annualized rate of 15.5% to reach $44.5 billion. Following sharp growth in 2008, revenue growth slowed down in 2009 and 2010 due to adverse effects on the domestic economy stemming from the global financial recession. As the industry produces a wide range of chemical raw materials, its performance is largely determined by the activities of downstream manufacturing industries, such as the Iron and Steel Smelting industry.
Over the five-year period, growth rates varied widely among product segments. The industrial gases segment experienced steady growth, while market conditions for yellow phosphorus fluctuated dramatically. The industrial gases manufacturing segment has a relatively short history in China and its share of industry revenue is expected to continue rising with growing commercial applications.
For the five years through 2018, industry revenue is forecast to grow 12.0% to $78.4 billion. Fueled by strong performance of China's manufacturing sector in recent years, ACMR-IBISWorld anticipates that the industry will resume solid growth in the next few years. Private and foreign enterprises will continue to be particularly active in the industrial gases and hydrogen peroxide segments due to high efficiencies, flexibility and profit.
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