AP

Air Products

www.airproducts.com link_icon

Air Products and Chemicals, Inc. Market Research Report



Company Overview



  • Name: Air Products and Chemicals, Inc.

  • Mission: Generating innovative solutions to the world's most significant energy and environmental sustainability challenges.

  • Founded: 1940

  • Founder: Leonard Pool

  • Key People:

  • Seifi Ghasemi (Chairman, President and CEO)

  • Ivo Bols (President, Europe and Africa)

  • Wolfgang Brand (Senior Vice President, Project Delivery and Technical)

  • Victoria Brifo (Senior Vice President and Chief Human Resources Officer, Corporate Communications and Corporate Relations)

  • Brian Galovich (Senior Vice President, Chief Information Officer)

  • Ahmed Hababou (President, Middle East & India)

  • Kurt Lefevere (President, Asia)

  • Francesco Maione (President, Americas)

  • Sean D. Major (Executive Vice President, General Counsel and Secretary, Mergers and Acquisitions, and Sustainability)

  • Wilbur Mok (President, Equipment Businesses)

  • Walter L. Nelson (Senior Vice President, Global Helium and Rare Gases)

  • Melissa Schaeffer (Senior Vice President and Chief Financial Officer)

  • Headquarters: 1940 Air Products Boulevard, Allentown, PA 18106-5500

  • Number of Employees: ~23,000

  • Revenue: $12.6 billion (Fiscal Year 2023)

  • Market Cap: Over $50 billion

  • Known For: Global leadership in industrial gases, hydrogen production, and technologies to support the energy transition.


Products



Industrial Gases


  • Description: Essential gases used across various industries including refining, chemicals, metals, electronics, and manufacturing.

  • Key Features:

  • High purity

  • Reliable supply chain

  • Includes oxygen, nitrogen, argon, and hydrogen


Hydrogen Energy Solutions


  • Description: Hydrogen production and supply to support energy transition and decarbonization.

  • Key Features:

  • Clean hydrogen production facilities

  • Hydrogen fueling infrastructure

  • Zero-carbon hydrogen initiatives


LNG Process Technology and Equipment


  • Description: Liquefied natural gas (LNG) process technologies including coil-wound heat exchangers.

  • Key Features:

  • High throughput

  • Small footprint equipment

  • Robust and reliable


Syngas Solutions


  • Description: Gasification technology to convert hydrocarbons into syngas for various downstream derivatives.

  • Key Features:

  • High efficiency

  • Turnkey solutions

  • Advanced technology integration


Turbomachinery


  • Description: Turboexpander technology for the hydrocarbon, LNG, petrochemical, and industrial gas markets.

  • Key Features:

  • High reliability

  • Optimal performance

  • Advanced engineering


On-site Generated Gas


  • Description: Integrated gas generation systems for uninterrupted supply at customer sites.

  • Key Features:

  • Cost efficiency

  • High reliability

  • Customizable solutions


Recent Developments



New Projects and Partnerships



1. NEOM Green Hydrogen Project
  • Description: World’s largest green hydrogen production facility in the Oxagon region of NEOM.

  • Significance: Financial close achieved with participation of 23 banks and investment firms.


2. 15-Year Green Hydrogen Supply Deal with TotalEnergies
  • Description: Supply agreement of 70,000 tons of green hydrogen per year to TotalEnergies by 2030.

  • Significance: Supports decarbonization of TotalEnergies' European refineries.


3. Louisiana Clean Energy Complex
  • Description: Production of blue hydrogen and blue ammonia.

  • Significance: Major support for energy transition through clean hydrogen.


4. Formation of Management Board
  • Description: Establishment of a senior leadership board to oversee growth strategies.

  • Significance: Streamlines project execution and focuses on energy transition through hydrogen.


5. Acquisition Agreement with Uzbekneftegaz JSC in Uzbekistan
  • Description: Acquisition and operation of a natural gas-to-syngas processing facility for $1 billion.

  • Significance: Adds strategic capacity and supports Uzbekistan’s energy needs.


6. Sale of LNG Process Technology and Equipment Business to Honeywell
  • Description: Transaction valued at $1.81 billion.

  • Significance: Focus diverted entirely to industrial gases business and hydrogen projects.


Technological Innovations



1. Hydrogen Refueling Infrastructure in Europe
  • Description: Development of hydrogen refueling stations across major European corridors.

  • Significance: Supports commercial-scale hydrogen adoption for heavy transport.


2. Sustainability Goals and Progress
  • New Commitments:

  • Quadruple renewable energy use by 2030.

  • Develop and implement water management plans by 2030.

  • Annual Recognitions:

  • Energy Transition Changemaker at COP28.

  • Inclusion in Barron’s 100 Most Sustainable Companies.


New Product Trials



1. Mercedes-Benz GenH2 Trucks Trials
  • Description: Trials of hydrogen-powered trucks in collaboration with Daimler Truck.

  • Significance: Enhanced hydrogen infrastructure to accelerate heavy-duty transport decarbonization.


Summary



Air Products continues to lead the industrial gas sector while actively contributing to global sustainability goals through significant investments in clean hydrogen projects. The company’s strategic engagements and innovative technologies mark substantial progress in the energy transition landscape.