Air Products And Chemicals: Returning To A Purified Industrial Gases Business

2025-09-01 12:45:54 ET

Air Products and Chemicals ( APD ) is one of the few companies which are left in the industrial gases industry after many years of consolidation. In 2016, Air Liquide (AIQUF) (AIQUY) acquired Airgas , and in 2018, Linde ( LIN ) merged with Praxair. These are the last two major consolidation moves in this industry. Today, the industrial gases market is de facto an Oligopoly . The largest company is Linde, followed by Air Liquide, Air Products, Nippon Sanso Holdings (TYNPF) (NPXYY) and Messer. Since Messer is not a listed company and the information available is limited, my comparison later in this article will focus on Air Products, Linde, Air Liquide and Nippon Sanso Holdings....

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