Press release
High Purity Methane Gas Global Market Report 2024 Segmented As Chemical Synthesis, Heat Detection, Hydrogen Fuel, Other Types
High Purity Methane Gas Global Market
The Business Research Company presents an extensive market research report on the High Purity Methane Gas Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The high purity methane gas market size has grown strongly in recent years. It will grow from $7.35 billion in 2023 to $7.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrial applications, petrochemical industry requirements, research and development, gas chromatography and laboratory applications..
The high purity methane gas market size is expected to see strong growth in the next few years. It will grow to $10.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rise in semiconductor and electronics manufacturing, continued use in gas chromatography and laboratories, energy sector demand. Major trends in the forecast period include market innovation and r&d, expansion into new markets, safety and quality standards compliance, environmental concerns and regulations, healthcare and medical applications, advanced manufacturing processes.
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Key Market Players:
Major companies operating in the high purity methane gas market report are Air Liquide S.A, Axcel Gases, Bhuruka Gases Limited, Chemix Specialty Gases and Equipment, Chengdu Taiyu Industrial Gases Co. Ltd., CryoCarb, Taiyo Nippon Sanso Corporation, Wuhan Newradar Special Gas Co. Ltd., EFC Gases & Advanced Materials, Gas Innovation, Linde plc, Matheson Tri-Gas Inc., The Messer Group GmbH, Middlesex Gases & Technologies, Osaka Gas Co. Ltd., Scientific Gas Australia Pty Ltd., Advanced Specialty Gases, AGT SpA, Sumitomo Seika Chemicals Company, Air Products and Chemicals Inc., Praxair Inc., Airgas Inc., Air Water Inc., Iwatani Corporation, Electronic Fluorocarbons, Qingdao Guida Special Gas Co. Ltd., Cryostar SAS, Showa Denko K.K., American Welding & Gas, Green Methane s.r.l
Market Drivers:
Growing demand for electronic products is driving the growth of the high-purity methane gas market. Electronic products are components that control the passage of electrical currents to process systems. These devices contain an electronic circuit that can generate or emit a physical radiation field while in operation. Consumer electronics has expanded and intersected with numerous businesses and sectors due to the development of new technology, including software, app development, robots, artificial intelligence, thus driving global consumer electronics growth. Such a surge in demand for consumer electronics devices has increased the need for the high-purity methane gas to produce materials for cells and other electrical devices. For instance, In December 2022, according to a market figure published by gfu Consumer and Home Electronics GmbH, a Germany-based consumer electronics company, stated that with $37.4 billion in sales in 2021, the consumer electronics segment is up 9.6% from $34.1 billion in 2021. Therefore, the growing demand for electronics products will propel the high-purity methane market.
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https://www.thebusinessresearchcompany.com/report/high-purity-methane-gas-global-market-report
The high purity methane gas market covered in this report is segmented -
1) By Type: Chemical Synthesis, Heat Detection, Hydrogen Fuel, Other Types
2) By Distribution: On-site, Bulk (Liquid Gas Transport), Cylinder (Merchant)
3) By Application: Medical, Automotive, Defence, Electronics, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
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