# Who are Air Products and Chemicals's customers? Who does Air Products and Chemicals earn revenue from?
Canonical: https://valuechain.wiki/air-products · Facet: customers · Updated: 2026-07-12T04:06:13.664+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Air Products and Chemicals's confirmed revenue counterparties include 삼성전자 (평택 팹 산업가스), 삼성전자 (평택 팹 온사이트 산업가스) plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 4 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-07-12).

### 삼성전자 (평택 팹 산업가스) (high)  → /samsung-electronics.md
- metric: Amount $12B · FY2025 매출
- note: Supplies nitrogen, oxygen, argon, hydrogen and specialty gases to Samsung's next-gen Pyeongtaek fab under a build-own-operate model, onstream 2028-2030; FY2025 sales $12B across ~50 countries.
- [confirms] Air Products (EN, ir, published 2026-04-29) https://www.airproducts.com/company/news-center/2026/04/0429-air-products-gas-supply-samsung-semiconductor-fab-south-korea: "Air Products to BOO gas facilities for Samsung's Pyeongtaek fab, onstream 2028-2030."

### 삼성전자 (평택 팹 온사이트 산업가스) (high)  → /samsung-electronics.md
- metric: Amount $12B · FY2025 총매출 · no customer >10%
- note: Electronics (semiconductor fabs) is a core on-site market - supplies nitrogen, oxygen, argon and hydrogen to Samsung's next-gen Pyeongtaek fab under a build-own-operate model (onstream 2028-2030). No single customer exceeds 10% of sales, so the base is diversified.
- [confirms] Air Products (EN, ir, published 2026-04-29) https://www.airproducts.com/company/news-center/2026/04/0429-air-products-gas-supply-samsung-semiconductor-fab-south-korea: "BOO gas facilities for Samsung's Pyeongtaek fab, onstream 2028-2030."
- [mentions] Yahoo Finance (EN, analysis, published 2026-01-01) https://finance.yahoo.com/markets/stocks/articles/air-products-apd-pairing-industrial-103500595.html: "Air Products pairs gas growth with semiconductor demand."
- [confirms] SEC EDGAR (EN, filing, published 2025-11-20) https://www.sec.gov/Archives/edgar/data/2969/000000296925000055/apd-20250930.htm: "No single customer over 10% of sales; on-site gases serve refining, chemicals, metals and electronics."

### 정유·화학·금속 산업 (온사이트·머천트 가스) (high)
- note: Per the 10-K, customer concentrations are in refining, chemicals and metals - supplying oxygen, nitrogen and hydrogen via on-site (pipeline, dedicated air-separation plants) and merchant; hydrogen also desulfurizes refinery fuels.
- [confirms] SEC EDGAR (EN, filing, published 2025-11-20) https://www.sec.gov/Archives/edgar/data/2969/000000296925000055/apd-20250930.htm: "Customer concentrations in refining, chemicals and metals; hydrogen desulfurizes fuels."

### 저탄소·중장비 운송 (수소 프로젝트) (mid)
- note: Growing hydrogen projects supporting the low- and zero-carbon transition, targeting industrial and heavy-duty transportation; large green/blue hydrogen projects anchor growth.
- [confirms] SEC EDGAR (EN, filing, published 2025-11-20) https://www.sec.gov/Archives/edgar/data/2969/000000296925000055/apd-20250930.htm: "Hydrogen projects for the low/zero-carbon transition in industry and heavy transport."

Reverse side: https://valuechain.wiki/air-products/suppliers.md · Ripple: https://valuechain.wiki/air-products/ripple.md

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Full node: https://valuechain.wiki/air-products.md · JSON: https://valuechain.wiki/air-products.json