Press release
Specialty Gas Market reaching nearly USD 18.55 Bn by 2030
Specialty Gas Market
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Factors that are driving the Market growth, and the opportunity potential within the market
Major market driving factor is increasing utilization of specialty gases in semiconductor and electronics industry. These gases are used to manufacture integrated circuits, displays and photovoltaic cells. Increasing consumer electronics needs and growth in 5G technology are also adding to their consumption.
The healthcare industry employs specialty gases extensively for medical imaging, anesthesia, and pharmaceutical manufacturing applications. Particularly, the growth of the healthcare industry across emerging economies, host plenty of growth opportunities.
The growing industrial end-use sector, which includes metal fabrication activities, laser cutting, and welding applications, further stimulates demand for specialty gases within this sector. Instigating towards sustainable energy solutions is also generating the demand for specialty gases in hydrogen fuel cells and renewable energy storage.
Segmentation Analysis
The global specialty gas market is bifurcated on the basis of type, application, and region.
By Product: High Purity Gases, Noble Gases, Carbon Gases, Halogen Gases and others. Based on purity, the segment is divided into high-purity gases, and gas mixtures.Thus, high-purity gases is dominating the segment attributed to high usage of such gasses in the manufacture of semiconductors and for use in medical diagnostics.
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Country-Level Analysis
US: Growth in the U.S. specialty gas industry is being driven by advances in semiconductor fabrication and healthcare; An increasing demand for specialty gases in hydrogen fuel is further fueled by government support for clean energy initiatives.
Germany: Germany is one of the largest markets for specialty gases in Europe, with robust demand from automotive, industrial and healthcare sectors. This push towards high-tech manufacturing and renewable energy is further driving the market in the country.
China: China is one of the largest producers of electronics and semiconductors globally, and thus is also a significant consumer of specialty gases. This is further supporting the market growth in the country, as well as quick industrialization and growth of healthcare resources.
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Japan - The specialty gas market in Japan is bolstered by strong semi-conductor end-use industry owing to advanced electronic component and semiconductor technology along with number of key players operating semi-conductor machineries over last decades. Higher demand for high-purity specialty gases is also being driven by the hydrogen energy investment within the country.
Competitor Analysis
Competitive Landscape of the Specialty Gas Market: The specialty gas market is highly competitive due to the presence of a number of well-established international and local companies in the region. Leading companies include:
Linde plc: As a leading supplier of specialty gases, Linde is currently focused on high-purity gas manufacturing and distribution for the semiconductor and health care markets.
Air Liquide - Air Liquide speaks to innovations in purification and gas separation processes that will continue to be integrated into their specialty gas portfolio
Praxair (Linde) Praxair is known for its specialty gases in industrial applications, electronics, and healthcare.
Air Products & Chemicals, Inc.: Air Products is strengthening its position in hydrogen and noble gases for energy and automotive applications.
Messer: Messer is currently focusing on specialty gas solutions for medical, laboratory, and industrial applications.
Press Release Conclusion
Global Specialty Gas Market - Overview Over the past few years, the global specialty gas market has witnessed vigorous growth on the back of increasing demand from electronics, healthcare, and industrial applications. With technology evolution, sustainability and cost-efficiency driving the industry - players investing in high-purity gas production and new applications will be ahead of the game. The specialty gas sector is pivotal amongst huge industries and transitions in global energy due to its anticipated growth as the market.
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