Air Products & Chemicals (APD)

The company produces and distributes gases such as hydrogen, helium, nitrogen, oxygen, argon, carbon dioxide, and specialty gases. These products are used in applications ranging from refining and chemical processing to steelmaking, semiconductor fabrication, welding, freezing, and medical care. Air Products often operates under long-term supply arrangements, including on-site production plants built near major customers, which can provide more stable cash flows than spot industrial activity alone.

Hydrogen is a central part of Air Products’ identity. The company is a major global supplier of hydrogen and has invested heavily in large-scale projects tied to refining, industrial decarbonisation, and the emerging low-carbon hydrogen economy. Its helium position is also notable, as helium is a scarce gas used in healthcare imaging, electronics, aerospace, and scientific applications.

Air Products’ competitive strengths include engineering capability, project execution experience, gas production technology, and deep relationships with industrial customers. In fiscal 2025, the company generated roughly $12 billion in revenue, reflecting its scale across core industrial gas markets. For investors, the stock represents exposure to a global industrial gas franchise with long-term growth opportunities in hydrogen, clean energy infrastructure, and high-purity gases for advanced manufacturing.