Specialty Gas Market Segment Analysis By Product, Application, Region And Forecast Till 2030 : Grand View Research Inc.

San Francisco, 28 June 2023: The Report Specialty Gas Market Size, Share & Trends Analysis Report By Product (Ultra-high Purity Gases, Carbon Gases), By Application (Electronics, Healthcare), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 – 2030

The global specialty gas market size is anticipated to reach USD 21.81 billion by 2030, expanding at a CAGR of 7.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing product adoption in electronics, manufacturing, and healthcare applications is anticipated to drive market growth. A rise in spending by governments across the globe to upgrade healthcare facilities acts as one of the major factors driving the growth of the market for specialty gas. The increased demand for flat panel displays and semiconductor devices boosts market growth. The widespread use of specialty gas as a cleaning gas for thermal chemical vapor deposition for high-tech thin films is driving their demand. The COVID-19 pandemic negatively impacted the global market.

The pandemic disrupted the whole supply chain causing a shortage of raw materials required for the consumer electronics, food & beverage, petrochemical, and manufacturing industries. The lower production in these industries also negatively impacted the demand for specialty gases. Asia Pacific dominated the market and accounted for the largest market share of 38.5% in 2022 and is expected to retain its dominance over the forecast period. The region dominates electronic and semiconductor manufacturing. China is a manufacturing powerhouse that ranks as the world’s top producer of automobiles, manufacturing, semiconductors, and other significant end-use industries. The dominant presence of various end-use industries in the region is contributing to the market growth.

Access Research Report of Specialty Gas Market @ https://www.grandviewresearch.com/industry-analysis/specialty-gas-market

Specialty Gas Market Report Highlights

• Based on product, the carbon gases segment accounted for the largest revenue share of 30.2% in 2022 and is expected to retain its dominance over the forecast period. Carbon dioxide and carbon monoxide, in particular, are in high demand in the market because of their common use in a variety of industrial applications
• For example, carbon dioxide in solid and liquid form is used for refrigeration and cooling. Furthermore, it is useful as an inert gas in chemical processes, carbon powder storage, and fire extinguishers. In the metals business, carbon dioxide is used to strengthen the hardness of casting molds
• Based on application, the electronics segment is expected to grow at a CAGR of 8.3% over the forecast period. The growth of this segment can be attributed to the increasing demand for specialty gases in the production of a variety of electronic devices and components, including semiconductors, display devices, LED panels, and solar panels
• In November 2022, Air Liquide S.A. announced its plan to innovate and produce renewable and low-carbon hydrogen at the Grandpuits zero crude with TotalEnergies. The company invested approximately USD 140 million to develop a new low-carbon hydrogen unit with a capacity of manufacturing more than 20,000 tons per year

List of Key Players of Specialty Gas Market

• Air Products and Chemicals, Inc.
• Air Liquide
• Messer Group GmbH
• Linde plc
• Taiyo Nippon Sanso Corporation
• MESA Specialty Gases & Equipment
• Weldstar
• Norco Inc.
• Coregas
• Showa Denko K. K.

Access Press Release of Specialty Gas Market @ https://www.grandviewresearch.com/press-release/global-specialty-gas-market

Specialty Gas Market Size Is Poised To Reach USD 18.22 Billion By 2028: Grand View Research Inc.

San Francisco, 23 Aug 2021: The Report Specialty Gas Market Size, Share & Trends Analysis Report By Product (Noble, Carbon, Ultra-high Purity, Halogen), By Application (Manufacturing, Electronics, Healthcare), And Segment Forecasts, 2021 – 2028

The global specialty gas market size is expected to reach USD 18.22 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.8% from 2021 to 2028. Increased preference for specialty gases in the healthcare sector owing to an increased rate of applicability in medical applications is a driving factor for the strong market growth.

Increased rate of applicability in key applications such as manufacturing (welding and cutting, lighting, laser, chemicals), healthcare (medical devices, pharmaceutical drugs manufacturing, anesthetic), electronics (flat panel displays, semiconductor devices), and analytical and calibration instruments are expected to drive market growth.

The manufacturing and electronics industries are flourishing at an increased rate in emerging economies of Asia Pacific. Government initiatives to strengthen analytical testing capabilities, growing expenditure on drugs and medical devices by public health organizations, technological advancement, and government investments in the healthcare and electronics industries are increasing the demand for specialty gas.

Prevailing energy and environment-friendly practices coupled with growing societal awareness towards green products and solutions are anticipated to develop more stringent environmental and emission norms over the forecasted period. Furthermore, key players such as Air Liquide, Praxair, Inc., Linde AG, etc. are developing clean technologies and introducing innovative solutions that will lower emissions and pollutants.

Access Research Report of Specialty Gas Market @ https://www.grandviewresearch.com/industry-analysis/specialty-gas-market

Specialty Gas Market Report Highlights

• Carbon gases was the largest segment by product capturing over 26% of the market share in 2020. Carbon gases are obtained from various natural sources and used by end-use industries such as chemicals, oil, food and beverages, etc. Majorly carbon dioxide and carbon monoxide have an increasing demand in the market owing to the high applicability rate in many industrial applications
• The healthcare segment is anticipated to reach USD 4.66 billion in 2027. Specialty gases are used on large scale in devices such as nuclear magnetic resource imaging, magnetic resonance imaging, and ophthalmology, etc.
• Asia Pacific region captured the largest regional segment in 2020 accounting for USD 4.20 billion owing to steady capacity expansions by surgical instruments, defense equipment, electronics, cotton, textiles industries, and a growing number of new applications of specialty gases is expected to drive market growth
• The market is competitive with key participants involved in R&D and constant innovation done by the vendors has become one of the most important factors for companies to perform in this industry. Key manufactures include Air Liquide S.A., Air Products and Chemicals, Inc., Iwatani Corporation, Linde plc, and Messer Group GmbH.

List of Key Players of Specialty Gas Market

• Linde plc
• Air Liquide International S.A.
• Messer Group GmbH
• Air Products and Chemicals, Inc.
• Weldstar, Inc.
• Mesa Specialty Gases & Equipment
• Norco Inc.
• Taiyo Nippon Sanso Corporation
• Showa Denko K.K.

Access Press Release of Specialty Gas Market @ https://www.grandviewresearch.com/press-release/global-specialty-gas-market