Air Products and Chemicals produces industrial gases, including oxygen, nitrogen and hydrogen, used across manufacturing, energy, healthcare and other industrial applications. Its industrial gas business often involves long-term supply contracts with large industrial customers, sometimes including dedicated on-site production facilities built specifically to supply a single major customer with a continuous gas supply. Air Products has increasingly focused on hydrogen production for clean energy applications, including hydrogen used as a fuel for vehicles and industrial processes seeking lower-carbon alternatives to traditional fossil fuels. The company's revenue tends to be relatively stable given its long-term supply contract structure with industrial customers, though its growth is increasingly tied to the pace of hydrogen and clean energy infrastructure investment as industries seek to reduce carbon emissions.