Inert Gas

Inert Gas Market Outlook

The global inert gas market is expected to reach a valuation of approximately USD 18 billion by 2035, growing at a compound annual growth rate (CAGR) of around 5.0% during the forecast period from 2025 to 2035. The increasing demand for inert gases across various industries, including manufacturing and electronics, is a primary driver of this growth. Additionally, the rising applications of these gases in diverse sectors such as healthcare and food & beverage further contribute to the market's expansion. The ongoing technological advancements in gas production and storage facilities also play a pivotal role in enhancing supply chain efficiencies, thereby supporting market growth. Furthermore, the growing emphasis on safety and quality assurance in manufacturing and processing activities is propelling the need for inert gases, which are essential for preventing unwanted chemical reactions.

Growth Factor of the Market

Several factors are propelling the growth of the inert gas market, with one of the most significant being the increasing applications in the oil and gas sector, where inert gases are used for various processes such as purging and blanketing. Additionally, the electronics industry is experiencing a surge in demand for high-purity inert gases, which are essential for semiconductor manufacturing and other high-tech applications. The pharmaceuticals industry is also seeing increased utilization of inert gases for processes that require an oxygen-free environment to enhance product stability and minimize contamination risks. Another contributing factor is the growing food and beverage industry, which relies on inert gases for packaging solutions that extend the shelf life of products. Lastly, the rising adoption of inert gases in emerging economies is opening new avenues for market growth, as these regions industrialize and their demand for quality gases increases.

Key Highlights of the Market

• Rapid growth in applications across various industries including electronics and healthcare.
• Rising demand for high-purity gases in manufacturing processes.
• Increasing focus on safety and quality assurance in production environments.
• Technological advancements in gas production and distribution systems.
• Significant market opportunities in emerging economies due to industrialization.

By Type

Nitrogen:

Nitrogen is the most widely used inert gas, accounting for a significant share of the market. Its properties make it ideal for various applications, including food packaging, where it is used to displace oxygen and prolong shelf life. In industrial settings, nitrogen is employed in processes such as purging, blanketing, and pressurization, thereby preventing oxidation and degradation of sensitive materials. The increasing focus on food safety and quality is driving the demand for nitrogen, particularly in the food and beverage sector. Additionally, its use in the manufacturing of electronics, where it helps in creating an oxygen-free environment, further solidifies its positioning as a crucial inert gas. The constant evolution of nitrogen production technologies is also enhancing supply chain efficiencies, making it more accessible for various applications.

Helium:

Helium is another essential inert gas that is primarily recognized for its unique properties, including its low boiling point and non-reactivity. It is widely used in cooling applications, particularly in MRI machines and cryogenics, where maintaining low temperatures is critical for operational efficiency and safety. The growing healthcare sector, combined with advancements in medical imaging technologies, is leading to an increase in helium demand. Furthermore, helium is extensively used in the electronics industry, particularly in the production of semiconductors, where it is employed to create an inert atmosphere during manufacturing processes. The limited availability of helium resources, however, poses challenges for the market; thus, there is a growing interest in recycling and alternative sources to ensure sustainability.

Argon:

Argon is one of the most commonly used inert gases, particularly in welding and metal fabrication processes. Its effectiveness as a shielding gas prevents oxidation and contamination of metal surfaces, making it indispensable in industries that require high-quality welds. The construction and automotive sectors heavily rely on argon for these applications, leading to a steady demand. In addition to welding, argon is also utilized in the production of glass and lighting, where its inert characteristics ensure a stable environment. The rising trend toward automation and improved welding techniques in manufacturing is further boosting the argon market. With the focus on energy efficiency and reducing emissions, argon’s role in sustainable practices is becoming increasingly important, leading to innovative applications in various sectors.

Neon:

Neon, though less commonly used than other inert gases, plays a vital role in specialized applications, particularly in lighting and signage. Neon lights are known for their bright colors and energy efficiency, making them popular in advertising and decorative lighting. The demand for neon is closely tied to the growth of the advertising and entertainment industries, where visually striking displays are required. Additionally, neon is utilized in high-voltage indicators and vacuum tubes, making it an essential component in various electronic applications. Despite its limited availability, the market for neon is witnessing a steady demand driven by innovations in lighting technologies and the growing trend of aesthetic and ambient lighting solutions in both commercial and residential spaces. The increasing emphasis on creative design elements in architecture and urban planning also adds to the market’s potential.

Krypton:

Krypton is a niche inert gas primarily utilized in lighting, especially in energy-efficient fluorescent and high-intensity discharge (HID) lamps. Its unique properties allow it to produce bright light while consuming less energy compared to traditional lighting solutions. As the global focus shifts towards sustainability and energy efficiency, the demand for krypton is expected to increase. In addition to lighting, krypton finds applications in the production of insulated glass windows, where its inert nature enhances thermal performance. The growing construction industry, coupled with rising awareness of energy-efficient building materials, is driving the demand for krypton in this segment. Moreover, ongoing research and development to explore new applications for krypton in various sectors are likely to contribute to its market growth in the coming years.

By Application

Oil & Gas:

In the oil and gas sector, inert gases are crucial for various processes, including purging, blanketing, and maintaining an oxygen-free environment during drilling and refining operations. The use of inert gases minimizes the risk of combustion and explosion, providing a safer working atmosphere for personnel and equipment. The escalating demand for energy and the ongoing exploration of new oil and gas reserves are driving the growth of this application segment. Furthermore, the increasing focus on safety regulations and environmental standards is propelling the adoption of inert gases in the industry. As organizations strive to enhance operational efficiency and reduce hazards, the role of inert gases in ensuring safe and effective oil and gas operations will continue to expand.

Chemicals:

The chemical industry extensively utilizes inert gases for processes that require controlled environments to prevent unwanted chemical reactions. Inert gases such as nitrogen and argon are used in various applications, from chemical synthesis to the storage and transportation of reactive materials. The increasing complexity of chemical formulations coupled with the growing demand for specialty chemicals is driving the need for inert gases in this sector. Moreover, the stringent regulations regarding emissions and safety in the chemical industry are pushing manufacturers to adopt better practices, including the use of inert gases for safety and efficiency. This trend is expected to create significant opportunities for the inert gas market, as companies seek to invest in technologies that enhance process reliability and product quality.

Electronics:

The electronics industry is a significant consumer of inert gases, especially in semiconductor manufacturing, where high-purity gases are essential for maintaining an inert atmosphere during production processes. Inert gases such as nitrogen and argon are employed in various stages, including chemical vapor deposition and etching, to ensure minimal contamination and optimal product performance. With the rapid advancement of technology and increasing demand for electronic devices, the need for inert gases in this sector is expected to grow substantially. Additionally, the trend toward miniaturization and the development of next-generation electronic components further underscore the vital role of inert gases in ensuring the integrity and quality of electronic products.

Pharmaceuticals:

In the pharmaceuticals sector, inert gases are critical for processes that require an oxygen-free environment to maintain the stability and efficacy of sensitive compounds. The demand for inert gases is being driven by the increasing focus on quality assurance and compliance with stringent regulatory standards in drug manufacturing. Moreover, the rise of biopharmaceuticals and the growing trend of personalized medicine are fueling the need for inert gases in various stages of drug development. As companies invest in advanced production technologies and seek to enhance product safety and efficacy, the use of inert gases in pharmaceuticals is expected to expand significantly, creating new opportunities for market players.

Food & Beverage:

The food and beverage industry relies heavily on inert gases for packaging solutions that extend shelf life and maintain product quality. Gases such as nitrogen are commonly used in modified atmosphere packaging (MAP) to displace oxygen and prevent spoilage. The increasing consumer demand for fresh and minimally processed foods is driving the adoption of inert gases in this sector. Additionally, the growing trend of online food delivery services and e-commerce is further amplifying the demand for effective packaging solutions that ensure product integrity during transit. As companies focus on sustainability and reducing food waste, the role of inert gases in enhancing food preservation and safety will continue to be a significant driver of market growth.

By Use Industry

Manufacturing:

The manufacturing sector is a major consumer of inert gases, utilizing them in various processes, including welding, metal fabrication, and chemical manufacturing. Inert gases such as argon and nitrogen are essential for creating inert atmospheres that prevent oxidation and contamination during production. The increasing emphasis on quality control and process efficiency in manufacturing is driving the demand for inert gases. Moreover, the rise of advanced manufacturing techniques, including additive manufacturing and automation, is expected to further enhance the usage of inert gases in this sector. As industries strive to improve productivity and reduce defects, the role of inert gases in ensuring high-quality outputs will continue to expand.

Energy:

The energy sector, particularly in oil and gas exploration and production, relies heavily on inert gases to ensure safe and efficient operations. Inert gases are used for purging pipelines, preventing combustion, and maintaining safe working conditions in hazardous environments. The growing demand for energy, coupled with the need for enhanced safety measures and compliance with environmental regulations, is driving the adoption of inert gases in this sector. As the energy landscape continues to evolve, with a push towards cleaner and more sustainable practices, the role of inert gases will become increasingly vital in ensuring operational safety and efficiency.

Healthcare:

In the healthcare sector, inert gases play a crucial role in various applications, including medical imaging and cryogenics. Helium, for instance, is essential for cooling MRI machines, while nitrogen is used in the preservation of biological samples and tissues. The growing demand for advanced medical technologies, coupled with the increasing focus on patient safety and quality of care, is driving the market for inert gases in healthcare. Moreover, the rise of telemedicine and remote healthcare services is further enhancing the need for reliable and efficient gas supply systems to support medical applications. As the healthcare industry continues to innovate, the demand for inert gases is expected to grow significantly.

Electronics:

In the electronics industry, inert gases are vital for maintaining the purity and quality of semiconductor manufacturing processes. High-purity inert gases such as nitrogen and argon are used in various stages of production to create oxygen-free environments, preventing contamination and ensuring optimal performance of electronic components. The rapid advancement of technology and the increasing demand for electronic devices are driving the need for inert gases in this sector. Additionally, the growing trend towards miniaturization and the development of advanced electronic materials further underscore the importance of inert gases in ensuring the integrity and reliability of electronic products. As the industry continues to evolve, the demand for inert gases is expected to rise significantly.

Food & Beverage:

The food and beverage industry relies heavily on inert gases for packaging solutions that extend shelf life and maintain product quality. Gases such as nitrogen are commonly used in modified atmosphere packaging (MAP) to displace oxygen and prevent spoilage. The increasing consumer demand for fresh and minimally processed foods is driving the adoption of inert gases in this sector. Additionally, the growing trend of online food delivery services and e-commerce is further amplifying the demand for effective packaging solutions that ensure product integrity during transit. As companies focus on sustainability and reducing food waste, the role of inert gases in enhancing food preservation and safety will continue to be a significant driver of market growth.

By Distribution Channel

Direct Sales:

Direct sales are a key distribution channel in the inert gas market, allowing manufacturers to establish a direct relationship with their customers. This approach enables companies to provide tailored solutions that meet specific customer requirements while ensuring efficient supply chain management. The direct sales model is particularly beneficial for industries with unique needs or those requiring high-purity gases, such as electronics and pharmaceuticals. By eliminating intermediaries, manufacturers can maintain better control over product quality and delivery timelines, resulting in higher customer satisfaction. The growing trend towards personalized services and customized solutions is expected to boost the direct sales channel further, as companies seek to enhance customer engagement and loyalty.

Distributor Sales:

Distributor sales constitute a significant portion of the inert gas market, providing a widespread network for the distribution of gases to various industries. Distributors play a critical role in ensuring timely delivery and availability of gases, particularly in regions with high demand. This channel is especially beneficial for smaller businesses that may not have the resources to manage direct purchasing processes. Distributors also offer value-added services such as gas mixtures and customized packaging solutions, catering to the specific needs of their clients. The growing trend of outsourcing supply chain activities is likely to drive the distributor sales channel, as companies look for efficient ways to manage their gas supply requirements.

Online Retail:

The online retail channel is emerging as a vital distribution method for inert gases, providing greater accessibility and convenience for customers. With the rise of e-commerce platforms, customers can easily order inert gases from the comfort of their homes or offices, streamlining the purchasing process. Online retail also allows businesses to reach a wider audience, including small and medium enterprises that may not have access to traditional distribution channels. The increasing focus on digital transformation and the growing trend of online shopping are likely to propel the growth of this segment in the coming years. As companies invest in improving their online presence and e-commerce capabilities, the online retail channel will become a significant contributor to the overall inert gas market.

By Region

The North American region is expected to dominate the inert gas market, driven by the presence of established industries such as oil and gas, electronics, and healthcare. The United States is a significant contributor to this growth, with its advanced manufacturing capabilities and strong focus on innovation. The market in North America is projected to grow at a CAGR of 5.2% over the forecast period, supported by ongoing investments in research and development. The increasing adoption of advanced technologies in various sectors is further fueling the demand for inert gases, making North America a key player in the global market.

Europe is also a prominent region in the inert gas market, with countries such as Germany, France, and the UK leading the charge. The region's strong emphasis on sustainability and energy efficiency is driving the adoption of inert gases in sectors like food and beverage, manufacturing, and healthcare. The European market is projected to experience steady growth due to stringent regulations regarding safety and environmental standards, which are encouraging industries to adopt inert gases for various applications. Additionally, the growing trend of automation and advanced manufacturing techniques is expected to create new opportunities for market players in Europe.

Opportunities

The inert gas market presents numerous opportunities, particularly in emerging economies where industrialization is rapidly progressing. Countries in Asia Pacific, Latin America, and the Middle East & Africa are experiencing significant growth in their manufacturing and energy sectors, leading to increased demand for inert gases. As these regions continue to develop, the need for advanced technologies and high-quality products will create a conducive environment for market expansion. Moreover, the increasing focus on sustainability and environmental compliance will drive the adoption of inert gases in various applications, as industries seek to minimize risks associated with chemical reactions and contamination.

Another promising opportunity lies in the research and development of innovative inert gas applications. With advancements in technology and the continuous evolution of industrial processes, new potential uses for inert gases are being discovered. For instance, the growing interest in 3D printing and additive manufacturing opens new avenues for utilizing inert gases in creating high-quality products. Additionally, the pharmaceutical industry is increasingly relying on inert gases for drug development and production processes, presenting a significant opportunity for market players. By investing in research and development and exploring potential applications, companies can position themselves to capitalize on the growing demand for inert gases in diverse sectors.

Threats

While the inert gas market offers a wide array of opportunities, it is not without its threats. One of the primary challenges facing the market is the limited availability of certain inert gases, such as helium, which is a non-renewable resource. The depletion of natural helium reserves and the increasing cost of extraction can lead to supply shortages and impact industries that heavily rely on this gas for their operations. The growing concern over resource scarcity necessitates a focus on developing alternative sources and recycling methods to ensure a sustainable supply of inert gases in the future. Additionally, fluctuations in global gas prices and geopolitical issues can further exacerbate supply chain challenges, posing a potential threat to the market's stability.

Another significant threat to the inert gas market is the increasing competition from alternative gas options and technologies. As industries continue to innovate and explore more cost-effective solutions, the adoption of alternative gases may pose a challenge to traditional inert gases. Furthermore, the growing emphasis on sustainability and environmental responsibility is prompting companies to seek greener alternatives, which may impact the demand for certain inert gases. Market players must remain vigilant and adapt to these changes by investing in research and development, enhancing their product offerings, and identifying new applications to maintain their competitive edge.

Competitor Outlook

• Air Products and Chemicals Inc.
• Linde plc
• Airgas, Inc.
• Praxair Technology, Inc.
• Matheson Tri-Gas, Inc.
• Gases, Inc.
• BASF SE
• Taiyo Nippon Sanso Corporation
• Merck KGaA
• Showa Denko K.K.
• Western Gas Resources, Inc.
• Universal Industrial Gases, Inc.
• Indura S.A.
• Eastgas, LLC
• INOX Air Products Ltd.

The competitive landscape of the inert gas market is characterized by the presence of several key players who are continually striving to enhance their product offerings and expand their market presence. Companies such as Air Products and Chemicals Inc., Linde plc, and Airgas, Inc. are leading the market with their extensive portfolios and global distribution networks. These companies focus on research and development to innovate new applications for inert gases, ensuring they remain at the forefront of market trends. Additionally, strategic partnerships, mergers, and acquisitions are common practices among competitors seeking to strengthen their market position and capitalize on emerging opportunities.

Air Products and Chemicals Inc. has established itself as a global leader in the production and supply of industrial gases, including inert gases. With a strong focus on sustainability and innovation, the company invests heavily in research and development to create advanced gas solutions for various industries. Linde plc, another major player, offers a diverse range of inert gases and related services, catering to multiple sectors such as healthcare, manufacturing, and energy. The company's commitment to operational excellence and customer satisfaction has contributed to its strong market position and growth.

Airgas, Inc., a subsidiary of Air Liquide, is also a prominent player in the inert gas market, offering a comprehensive range of gases and equipment to meet the diverse needs of its clients. The company's extensive distribution network and customer-centric approach enable it to cater to various industries effectively. Furthermore, Matheson Tri-Gas, Inc. and Praxair Technology, Inc. are notable competitors that continue to innovate and expand their offerings. As the inert gas market evolves, these companies and others will play a crucial role in shaping industry trends and driving future growth.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BASF SE
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Linde plc
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Merck KGaA
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Gases, Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Indura S.A.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Airgas, Inc.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Eastgas, LLC
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Showa Denko K.K.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 INOX Air Products Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Matheson Tri-Gas, Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Praxair Technology, Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Western Gas Resources, Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Taiyo Nippon Sanso Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Air Products and Chemicals Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Universal Industrial Gases, Inc.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Inert Gas Market, By Type
    • 6.1.1 Nitrogen
    • 6.1.2 Helium
    • 6.1.3 Argon
    • 6.1.4 Neon
    • 6.1.5 Krypton
  • 6.2 Inert Gas Market, By Application
    • 6.2.1 Oil & Gas
    • 6.2.2 Chemicals
    • 6.2.3 Electronics
    • 6.2.4 Pharmaceuticals
    • 6.2.5 Food & Beverage
  • 6.3 Inert Gas Market, By Use Industry
    • 6.3.1 Manufacturing
    • 6.3.2 Energy
    • 6.3.3 Healthcare
    • 6.3.4 Electronics
    • 6.3.5 Food & Beverage
  • 6.4 Inert Gas Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributor Sales
    • 6.4.3 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Inert Gas Market by Region
  • 10.3 Asia Pacific - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 India
      • 10.3.1.2 China
      • 10.3.1.3 Japan
      • 10.3.1.4 South Korea
  • 10.4 Latin America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 Brazil
      • 10.4.1.2 Argentina
      • 10.4.1.3 Mexico
  • 10.5 North America - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 USA
      • 10.5.1.2 Canada
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Inert Gas market is categorized based on

By Type

• Nitrogen
• Helium
• Argon
• Neon
• Krypton

By Application

• Oil & Gas
• Chemicals
• Electronics
• Pharmaceuticals
• Food & Beverage

By Use Industry

• Manufacturing
• Energy
• Healthcare
• Electronics
• Food & Beverage

By Distribution Channel

• Direct Sales
• Distributor Sales
• Online Retail

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Air Products and Chemicals Inc.
• Linde plc
• Airgas, Inc.
• Praxair Technology, Inc.
• Matheson Tri-Gas, Inc.
• Gases, Inc.
• BASF SE
• Taiyo Nippon Sanso Corporation
• Merck KGaA
• Showa Denko K.K.
• Western Gas Resources, Inc.
• Universal Industrial Gases, Inc.
• Indura S.A.
• Eastgas, LLC
• INOX Air Products Ltd.