Industrial Gases

Backlogs Remain Strong Industrial gases producers face a difficult first half of the year as customers lower their operating rates amid decreased chemical manufacturing demand. However, most gases producers say their order backlogs are strong and that they expect demand to pick up later this year. Air Products expects manufacturing growth to slow 3%-5% this year, with silicon production down 14%-16%. The slowdown in silicon means the company’s electronics business is suffering an “intensified downturn” with volume and prices expected to be down...

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