Integrated Annual Report 2025

A unique industrial model

AN INDUSTRIAL MODEL DRIVING SUSTAINABLE VALUE CREATION

Resilience, innovation, and long-term value creation are at the heart of Air Liquide’s business model. Serving nearly all sectors of the economy, the Group leverages the integration of its activities to generate strong industrial, technological, organizational, and financial synergies. This unique model sustainably supports its growth and performance.

This diagram illustrates Air Liquide's industrial ecosystem, which is organized around a central production site and five customer segments.

Inputs to the production site:

  • Air
  • Electricity, including low-carbon and renewable electricity
  • Natural Gas
  • Biomethane
  • Water

Central production site:

The site comprises two types of industrial units identified on the diagram:

  • ASU (1): air separation unit, producing O₂, and N₂, among other gases
  • SMR (2): hydrogen production unit via reforming, producing H₂

The gases produced and circulating on the site are: CO₂, H₂, N₂, O₂.

Five served segments:

  1. Large Industries: Refining customer, Carbone capture customer(3), Chemicals customer, Steel customer.
  2. Industrial Merchant: Filling centers, Gas cylinder customers, Liquid gas customers, Hydrogen mobility customer, On-site customer(4).
  3. Healthcare: Hospitals, Filling Centers, Healthcare Clinic, Patient at home.
  4. Electronics: Carrier Gases (N₂, O₂, H₂, Ar, He), Electronics Customer, Filling Centers, Advanced Materials Production center.
  5. Engineering and Technologies: Plants and equipment for industry, the Energy Transition, and Deep Tech (for the Group or third-party customers).