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High Purity Methane Gas Global Market Sales Estimated to Hit $10.06 Billion at a CAGR of 6.4% By 2028 | Says The Business Research Company
High Purity Methane Gas Market
As per the report, 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 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%.
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Surging Demand For Electronic Products Drives Growth In The High-Purity Methane Gas Market
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.
Technological Advancements Drive Innovation In High-Purity Methane Gas Market
Technological advancements are the key trend gaining popularity in the high-purity methane gas market. The market is witnessing the implementation of an advanced methane gas leak detection system. Major companies operating in the high-purity liquid gas market are focused on research and development for technological advancements tools and technology to strengthen their market position. For instance, in August 2022, NOVATEK-Yurkharovneftegas, a Russia-based gas company, announced an initiative to monitor methane leaks using unmanned aerial vehicles (""""UAVs""""). The project is part of the comprehensive environmental and climate change targets program, including constructing a multi-level leak detection system. It allows for more precise and faster observations compared to other monitoring methods.
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
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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
Contents of the report:
1. Executive Summary
2. High Purity Methane Gas Market Report Structure
3. High Purity Methane Gas Market Trends And Strategies
4. High Purity Methane Gas Market - Macro Economic Scenario
5. High Purity Methane Gas Market Size And Growth
…..
27. High Purity Methane Gas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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