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High Purity Gases Market to Register Substantial Expansion by 2027

05-09-2018 12:05 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

High Purity Gases Market to Register Substantial Expansion

Introduction:

Gases having more than 99.99% concentration are known as High Purity gases. High Purity gases are most commonly used in applications where impurity control is imperative. In high purity gases, the impurity content level is usually below 0.1 ppm. Generally, high purity gases, such as hydrogen, nitrogen, oxygen, helium, krypton and argon, among others, are classified into four groups i.e. pure gases, hydrocarbon bases gases, rare gases and miscellaneous gases. High purity gases can be manufactured through several manufacturing methods, such as cryogenic-liquefaction & air fractional distillation, pressure swing adsorption using molecular sieves, hydrocarbon steam reforming process and purification of purge gas, among others. High purity gases find applications in analytical studies and pharmaceutical, healthcare and food processing industries, among others. There are many other applications of high purity gases as well. For instance, during the manufacturing of integrated circuits, those high purity gases are used in which the impurity content is less than 1 part in 1000. If the impurity content in gases touches higher levels, then it significantly affects the yield and performance of the integrated circuit. Thus, the demand for high purity gases is high in the semiconductor industry.

Market Dynamics:

The prompt growth of electronics industry coupled with the growing production of semiconductor devices will in turn help to boost the demand for high purity gases. Moreover, given the rising concerns regarding quality of food as well as healthcare products, the demand for high purity gases is expected to increase for food processing and pharmaceutical products. Furthermore, increasing demand for high purity gases from the chemicals and automotive industry in developing and the developed regions will help to drive the market. Apart from this, regulatory restrictions over the use of high purity gases in regions, such as North America and Europe, will hinder the growth of the market. Also, the high cost of manufacturing and fluctuating raw material prices are a major restraining factor responsible for the growth of high purity gases market.

Segmentation:

Based on type, the global high purity gases market is segmented into:

Pure Gases
Rare gases
Hydrocarbon-based
Others
On the basis of application, the global high purity gases market is segmented into:

Chemicals
Oil & gas
Electronics
Metal Production
Food Processing
Pharmaceuticals & healthcare
Others
Regional Outlook:

In terms of consumption, North America dominates the global high purity market. Increasing demand for pure atmospheric gases, such as nitrogen, oxygen and helium, among others, in the U.S., especially for electronics as well as in metal production will help drive the high purity gases market over the forecast period. Moreover, Asia Pacific is the major market for high purity gases owing to the prompt growth of the semiconductor industry in the region. Around 80% of global integrated circuit production occurs in APAC region.

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Furthermore, significant growth of end-use industries, such as chemical, metal production, food and pharmaceutical industries, among others, will subsequently help to boost the demand for high purity gases over the forecast period. In India, demand for pure gases, such as oxygen, nitrogen and hydrogen, among others, is significant and is followed by the hydrocarbon bases gases. In Europe, substantial growth of food and pharmaceutical industry coupled with stringent regulations imposed on the manufacturing processes is expected to boost the demand for high purity gases over the forecast period. Middle East & Africa and Latin America high purity gases markets are expected to grow steadily over the forecast period.

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Key player:

Examples of some of the market participants identified across the value chain of the global high purity gases market include The Linde Group, Praxair, Inc., Air Liquide S.A., Iwatani Corporation, Advanced Specialty Gases Inc., Matheson Tri-Gas Inc., and Air Products and Chemicals, Inc., among others. The High pressure gases market is a highly consolidated market. Major manufacturer are adopting a strategy of expansion to enhance their footprint in emerging markets, such as India and China.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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Web: https://www.futuremarketinsights.com/

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