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Messer

MaterialsBad Soden, Germany· One of 961 Materials companies tracked by AMPulse

Supplies industrial, medical, and specialty gases enabling additive manufacturing processes including wire feed and binder jetting; optimizes AM part quality and production efficiency through application competence centers.

CEO / Founder
Bernd Eulitz
Team Size
10000+
Stage
Public
Total Funding
Publicly Traded
Latest Round
IPO
Key Investors
GIC; CVC Capital Partners

Technology & Products

Key Products

Messer offers a comprehensive portfolio of industrial, medical, and specialty gases, including oxygen, nitrogen, argon, and carbon dioxide. They also develop patented application technologies for gases.

Technological Advantage

Specialized application expertise in wire feed and binder jetting AM processes combined with 125+ years of industrial gas competency and global scale; significant switching costs due to process optimization knowledge and supply chain integration; difficult for new entrants to replicate.

Differentiation

Value Proposition

Reduces AM production costs and improves part quality through optimized gas processes; enables sustainable, on-demand manufacturing with green hydrogen solutions and proven application expertise.

How They Differentiate

As the largest privately held industrial gases firm globally, Messer differentiates through specialized competence centers optimizing gas applications for wire feed and binder jetting AM, deep technical expertise, sustainability focus, and established customer relationships across 5 continents.

Market & Competition

Target Customers

Industrial manufacturers, aerospace/defense, medical/pharma, food, welding/cutting operations, 3D printing facilities

Industry Verticals

Manufacturing; Aerospace/Defense; Medical/Pharma; Food; Welding/Cutting; Additive Manufacturing; Environmental Protection; Research/Science

Competitors

Air Liquide, Air Products, Airgas.

Growth & Milestones

Growth Metrics

2025 sales €4.5B, EBITDA €1.4B (31% margin); ~12,257 employees globally across 5 continents; largest privately held industrial gases company

Major Milestones

1898 - Founded; 2021 - Restructured to Messer SE & Co. KGaA; 2023 - Acquired Messer Industries from CVC; GIC becomes strategic minority partner; 2024 - Completed refinancing; 2025 - Revenue €4.5B, EBITDA €1.4B, 12,000+ employees; 2026-05 - Announced CEO transition: Peter Mohnen to succeed Bernd Eulitz as of July 1, 2026

Notable Customers

Bell & Evans

Why this company matters

Messer is the world's largest privately held industrial gases company, with 125-plus years of experience and 2023 sales of approximately €4.4 billion. The firm positions its gas portfolio — including argon, nitrogen, and oxygen — as a process-critical input for additive manufacturing, particularly in wire arc DED and binder jetting. Rather than simply supplying commodity gases, Messer operates application competence centers that optimize gas flow, atmosphere control, and shielding parameters to reduce production costs and improve part quality in AM.

The company's core AM technologies are metal binder jetting and DED-arc (WAAM). In binder jetting, gas composition and flow directly affect powder bed uniformity and sintering outcomes; in WAAM, shielding gases influence weld bead geometry, oxidation, and mechanical properties. Messer's technical depth in both powder-based and wire-feed processes, combined with global supply chain integration across five continents, creates switching costs for customers who have tuned their processes around Messer's gas formulations and application expertise.

Messer serves industrial manufacturers, aerospace and defense primes, medical and pharma OEMs, and dedicated 3D printing facilities. Notable customer Bell & Evans represents the food sector, but the company's AM work targets higher-value end markets where gas optimization can meaningfully affect part quality and throughput. A strategic minority investment from GIC in 2024 and the full acquisition of the Messer Industries joint venture from CVC Capital Partners in 2023 have strengthened the firm's balance sheet for continued investment in AM application development.

Competitors include Air Liquide, Air Products, and Airgas. Messer differentiates through its private ownership structure, which allows longer investment horizons, and its focused competence centers for AM gas applications — a level of specialization that larger, more diversified industrial gas suppliers may not match. The open question is whether Messer can translate its 125-year gas heritage into a defensible position in AM as the industry shifts toward more standardized, closed-loop gas systems.