Specialty Gas Industry Overview
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.
Specialty Gas Market Segmentation
Grand View Research has segmented the global specialty gas market based on product, application, and region:
Based on the Product Insights, the market is segmented into Ultra-high Purity, Noble, Carbon, Halogen, Other.
- The carbon gas segment is anticipated to be a leading segment in the market with a revenue share of over 26% as of 2020, owing to increasing demand by various end-use industries such as manufacturing, electronics, healthcare, and chemicals as well as growing application scope for analytical purposes and instrument calibration.
- The ultra-high purity segment is anticipated to be the leading segment in the specialty gas industry owing to its increasing usage in applications such as manufacturing semiconductors, usage in laser technology, displays, photovoltaic products, welding and cutting, analytical instruments, stabilizing chemical processes, creating amplified light for hardening and marking, etc.
- Noble gases are also expected to witness huge demand owing to the increasing requirement for non-reactive chemical reactions in the manufacturing process and industrial applications such as lighting, welding, laser equipment, and diving gear.
- Other specialty gases include zero air, silane, nitrous oxide, custom blends, and gas mixtures. Increasing demand for custom-blended mixtures by the food and beverage, healthcare, manufacturing, and chemical industry is anticipated to spur the market demand.
Based on the Application Insights, the market is segmented into Manufacturing, Electronics, Healthcare, Institutional, Other.
- Healthcare application is anticipated to be the largest segment in the specialty gas market, accounting for over 27% in 2020. Increased preference in the healthcare sector owing to an increased rate of applicability in medical applications is driving the industry growth.
- The manufacturing segment accounted for the second-highest market share of the global demand in 2020. The large proportion can be accredited to the large manufacturing industry and requirement of ultra-high purity and other specialty gas for specific applications.
- Increasing demand due to new technologies and existing uses of display technologies such as OLED, 4K, curved and flexible displays is positively driving the display market. Large-scale production of displays owing to high demand is fostering the use of specialty gases.
Specialty Gas Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Kay players in the industry are investing in research and development, while actively contributing to the tactical initiatives for new product development. Capacity growth and new product launches are predominant in the industry. The market trend also signifies notable expansion and acquisition activities by the key companies.
Some prominent players in the global specialty gas market include
- 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.
Order a free sample PDF of the Specialty Gas Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
0
