What Airgas does

Airgas, Inc. is the largest U.S. distributor of industrial, medical, and specialty gases, operating as a wholly-owned subsidiary of French multinational Air Liquide since its delisting from the NYSE. Founded in 1982 and headquartered in Radnor, Pennsylvania, the company distributes compressed and liquefied gases — including oxygen, nitrogen, argon, acetylene, and carbon dioxide — across industrial, USP medical, food-grade, and ultra-high-purity (UHP/ALPHAGAZ) grades via three supply modes: cylinder, bulk liquid, and micro-bulk. Beyond gases, Airgas sells a full line of welding equipment and consumables (own Radnor brand plus Miller, Lincoln Electric, ESAB, Hypertherm), safety products and PPE (including 3M, Honeywell, PIP), and industrial tools and MRO supplies, reaching customers through a nationwide physical branch network, an airgas.com e-commerce platform, and a dedicated account-based sales force serving enterprise accounts.

Airgas serves seven primary verticals: manufacturing and metal fabrication, life sciences and healthcare (via the Airgas Healthcare sub-brand), food and beverage, government/defense/aerospace, energy and chemicals, construction, and semiconductor manufacturing. Notable mission-critical engagements include supplying high-pressure nitrogen and cryogenic propellant for NASA's Artemis II launch from the Merritt Island, Florida facility, and earning BAE Systems' Partner2Win Supplier Gold award for U.S. Navy ship repair. Specialty gas production has been expanded for semiconductor manufacturing, targeting ultra-high-purity demand from U.S. chip fab buildouts.

The business model combines usage-based revenue from recurring cylinder and bulk gas replenishment, one-time sales of welding/safety/tools hardware, and recurring medical gas supply relationships. Customers range from large enterprises with multi-mode bulk and micro-bulk contracts to SMB and walk-in retail buyers. Growth is driven by a multi-decade bolt-on M&A strategy (Tech Air 2019, Carbonic Systems 2018, Hust Brothers 2025, among many others), vertical penetration into high-purity and aerospace/defense niches, and continued channel build-out. Operating risks include labor disputes (Teamsters nationwide charges and a 2026 Michigan arbitration loss finding multiple unfair labor practices), a helium force majeure event tied to damage at Qatar's LNG facility, and product liability exposure from an anhydrous ammonia tanker leak in Weatherford, Oklahoma in November 2025.

Name

Airgas

Legal name

Airgas, Inc.

Website

https://airgas.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Airgas is the largest U.S. distributor of industrial, medical, and specialty gases, operating as a wholly-owned subsidiary of Air Liquide. It serves manufacturing, healthcare, food, aerospace/defense, energy, construction, and semiconductor customers via cylinder, bulk, and micro-bulk supply modes.

Ownership category

akta.pro rank

Product category

Industrial Gas Distribution

NAICS

Industrial Gas Manufacturing (32512), Industrial Gas Manufacturing (325120)

SIC

Wholesale-Industrial Machinery & Equipment (5084), Wholesale-Hardware & Plumbing & Heating Equipment & Supplies (5070)

akta.pro primary industry

Air Separation (Oxygen/Nitrogen/Argon) (IMAEACAA)

akta.pro secondary industries

Medical & Healthcare Gases (IMAEACAF), Electronics & Semiconductor High-Purity Gases (IMAEACAG), Food & Beverage Gases (Carbonation/Freezing/Packaging) (IMAEACAI), Gas Handling Equipment & Storage (Cylinders/Tanks/Valves) (IMAEACAL), Process Gases & Gas Delivery Consumables (Specialty/Bulk/UHP) (HDAHAGAL)

Keywords

• Industrial gas distribution
• Welding equipment supplies
• Medical gas supply
• Safety products distribution
• Specialty gases

Headquarters

HQ city

Radnor

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Industrial, Medical, and Specialty Gas Distribution: Core business distribution of compressed and liquefied industrial gases including oxygen, nitrogen, argon, acetylene, and carbon dioxide in various grades (industrial, USP medical, food grade) through cylinder and bulk supply modes.
2. Welding Equipment and Supplies: Sale of welding products including MIG welders, welding wire, welding helmets, gas equipment, and related accessories through retail and B2B channels.
3. Safety Products: Distribution of safety equipment including fall protection, first aid kits, coated work gloves, earplugs, flame resistant clothing, and personal protective equipment (PPE).
4. Tools and Hardware: Sale of industrial tools and hardware including grinding wheels, grinders, power tool brushes, saw blades, and flap discs.
5. Medical Gas Distribution: Supply of medical grade gases including USP medical carbon dioxide, medical nitrogen (NF grade), and other healthcare-related gas products to hospitals and medical facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Airgas is the largest U.S. distributor of industrial, medical, and specialty gases (oxygen, nitrogen, argon, acetylene, carbon dioxide) supplied in cylinders, bulk tanks, and micro-bulk modes, complemented by a full line of welding equipment and consumables, safety products (PPE, fall protection, first aid), gas equipment, and tools/hardware. It serves manufacturing, healthcare, food processing, aerospace, construction, energy, and semiconductor customers through a nationwide branch network, e-commerce platform, and account-based sales.

Product overview

Airgas, a subsidiary of French multinational Air Liquide, operates as the largest U.S. distributor of industrial, medical, and specialty gases, offering a comprehensive product portfolio organized around core categories: Gases (Oxygen, Argon, Nitrogen, Acetylene, Carbon Dioxide in Industrial, Medical, Food Grade, USP, UHP, and specialty grades), Gas Equipment (regulators, manifolds, welding gas apparatus), Welding Products (MIG Welders, Welding Wire, Helmets, Filler Metals), Safety Products (Fall Protection, PPE, First Aid), Tools & Hardware (Abrasives, Grinders), and Healthcare solutions. Products are distributed through cylinder swap-fill, bulk liquid, and micro-bulk delivery modes across multiple brand relationships including Radnor (Airgas-owned brand), Miller, Lincoln Electric, ESAB, and other major manufacturers. The company serves diverse industries including manufacturing, food processing, healthcare, construction, energy, aerospace, and semiconductor manufacturing.

Differentiator

Problem solved

Functional benefit

Brands

• Airgas Healthcare: Healthcare division of Airgas providing medical gases and supply modes for life sciences and healthcare applications
• Radnor
• Airgas Dry Ice
• ALPHAGAZ

Products and services

• Industrial Gases Distribution of industrial gases including Oxygen, Argon, Nitrogen, Acetylene, and Carbon Dioxide in multiple grades (Industrial, Medical, Food Grade, USP, UHP, Research, Instrument, Laser, Calibration) packaged in cylinders, liquid containers, and delivered via bulk supply modes for industrial customers.
• Medical Grade Gases Medical-grade gases including Oxygen, Nitrogen, and Carbon Dioxide meeting USP and National Formulary standards, supplied to hospitals, medical facilities, and healthcare providers for patient care and clinical applications.
• Food Grade Gases Food industry gases for cryogenic freezing, chilling, and Modified Atmosphere Packaging (MAP) applications, supporting clean-label preservation and extended shelf life for packaged foods in food processing operations.
• Welding Products Full line of welding equipment and consumables including MIG Welders, TIG Welders, MIG Wire (carbon steel, stainless, aluminum), auto-darkening welding helmets, MIG guns, filler metals, and welding outfits for cutting and joining operations.
• Safety Products Occupational safety equipment including Fall Protection, First Aid Kits, Coated Work Gloves, Earplugs, Flame Resistant Clothing, welding helmets, and other personal protective equipment (PPE) for industrial and construction workplaces.
• Tools and Hardware Industrial tools and MRO supplies including grinding and cut-off wheels, grinders, power tool brushes, saw blades, and flap discs for metal fabrication and maintenance operations.
• Gas Equipment Gas delivery and control equipment including regulators, manifolds, welding gas apparatus, and cylinder handling equipment for industrial and medical gas applications.
• Dry Ice Dry ice products and distribution services for industrial cooling, cold chain shipping, and preservation applications.
• Bulk Gas Supply Large-volume gas supply mode delivering gases via bulk liquid tanks or pipeline for high-consumption industrial customers requiring continuous, large-quantity gas delivery.
• Gas Cylinders Compressed gas cylinder supply and management services for industrial, medical, and specialty gas applications with various cylinder sizes and pressure ratings, including swap-fill and ownership options.
• Radnor Airgas-owned brand offering welding wire, electrodes, and safety products sold through Airgas distribution channels.

Quantifiable outcome

• Artemis II mission successfully supported with high-pressure nitrogen supply from Merritt Island, Florida facility
• +1 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• NASAflagshipStrategic or Co-development Partner · 2 April 2026Airgas, as an Air Liquide company, supplied mission-critical high-pressure nitrogen for NASA's historic Artemis II launch at Kennedy Space Center. The supply contract continues a collaboration between Air Liquide and NASA spanning more than 50 years, with Airgas positioned as a key enabler in the space exploration supply chain for crewed lunar missions.
• Air LiquidecoreOthersAirgas operates as a subsidiary of Air Liquide, a French multinational corporation and one of the world's largest industrial gas companies. This parent-subsidiary relationship provides Airgas with global backing, operational resources, and integration into Air Liquide's worldwide distribution network and production capabilities.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Praxair (legacy entity / Linde U.S. distribution): Praxair's U.S. distribution operations, now integrated into Linde, historically competed directly with Airgas in cylinder, bulk, and specialty gas distribution. The combined Linde entity remains one of Airgas's most direct competitors in the merchant gas market across the U.S.
• Air Products and Chemicals: Air Products is a top-tier global industrial gas company with a meaningful U.S. merchant and on-site gas presence. It competes with Airgas in merchant cylinder and bulk gas distribution, specialty gases, and electronics-grade gas supply, particularly in the Northeast and Mid-Atlantic regions.
• Linde: Linde (formed from the 2018 Praxair–Linde AG merger) is the largest industrial gas company globally and operates the most direct U.S. competitor to Airgas's gas distribution business. Both companies distribute industrial, medical, and specialty gases via dense branch networks and serve overlapping manufacturing, healthcare, and electronics customers.

Emerging players

• Holston Gases: Holston Gases is a growing regional industrial gas distributor in the southeastern U.S. that has been active in M&A consolidation of independent gas distributors. It competes with Airgas in cylinder and bulk gas distribution across multiple states and represents a rollup competitor.
• Meritus Gas Partners: Meritus Gas Partners is an emerging rollup platform acquiring and operating regional industrial gas distributors across the U.S. It competes with Airgas for acquisition targets in the fragmented gas distribution market and increasingly as a direct supplier in overlapping geographies.

Regional players

• Weldinghouse: Weldinghouse was an independent welding supply and industrial gas distributor that was acquired by Airgas in 2015, illustrating the type of regional welding/gas distributor that competes with Airgas in localized markets across the Midwest and East Coast.
• Rocky Mountain Air Solutions: Rocky Mountain Air Solutions is a regional industrial and specialty gas distributor serving the Rocky Mountain and Western U.S. It competes with Airgas in cylinder distribution, dry ice, and specialty gas supply for welding, medical, and food customers in its geographic footprint.

Direct peers

• Messer Americas: Messer Americas is the U.S. business of Messer SE and a direct competitor in packaged and bulk industrial gas distribution following the 2019 acquisition of the Linde/Praxair Americas business. It overlaps with Airgas in welding gases, medical gases, and bulk supply to industrial customers.
• National Welders Supply: National Welders Supply is a regional industrial gas and welding supply distributor in the southeastern U.S. It directly overlaps with Airgas in welding gases, cylinder exchange, and welding equipment/PPE distribution to fabrication and construction customers.
• Matheson Tri-Gas: Matheson Tri-Gas, a subsidiary of Nippon Sanso Holdings, is one of the largest U.S. industrial and specialty gas distributors. It competes head-to-head with Airgas in merchant cylinder distribution, bulk gas supply, and high-purity/specialty gases for semiconductor and laboratory customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/airgas
• Facebookfacebook.com/AirgasInc
• LinkedInlinkedin.com/company/airgas

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A17 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Airgas