Press release
Specialty Gases Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Specialty Gases
What Is the Projected Growth of the Specialty Gases Market?
The specialty gases market has expanded significantly in recent years. It is expected to grow from $12.77 billion in 2024 to $13.94 billion in 2025, at a CAGR of 9.1%. The growth drivers include the rising need for high-purity gases, the expanding TH*Care sector, increased demand in chemical industries, greater need for gas-phase engraving, and higher demand from electronics manufacturing.
The specialty gases market is forecast to grow to $19.57 billion in 2029 at a CAGR of 8.9%, driven by demand in semiconductors, pharmaceuticals, and LEDs, alongside rapid industrial growth. Trends include smart monitoring systems, sustainable production, purification innovations, and blending advancements.
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What Are the Different Specialty Gases Market Segments?
The specialty gases market covered in this report is segmented -
1) By Type: High-Purity Gases, Noble Gases, Carbon Gases, Halogen Gases, Other Types
2) By Element: Argon, Nitrogen, Helium, Carbon Monoxide, Methane, Oxygen, Hydrogen, Other Elements
3) By Packaging Type: Packaged, Bulk And On-site
4) By Sales Type: Captive, Merchant
5) By End-User Industry: Automotive, Electronics, Medical And TH*Care, Food And Beverage, Oil And Gas, Other End-User Industries
Subsegments:
1) By High-Purity Gases: High-Purity Nitrogen, High-Purity Oxygen, High-Purity Hydrogen, High-Purity Helium, High-Purity Argon, Other High-Purity Gases
2) By Noble Gases: Helium, Neon, Argon, Krypton, Xenon
3) By Carbon Gases: Carbon Dioxide (CO?), Carbon Monoxide (CO), Methane (CH?), Other Carbon Gases
4) By Halogen Gases: Fluorine (F?), Chlorine (Cl?), Bromine (Br?), Other Halogen Gases
5) By Other Types: Acetylene (C?H?), Ammonia (NH?), Nitrous Oxide (N?O), Hydrogen Chloride (HCl), Other Specialty Gases
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What Are the Primary Drivers Shaping the Specialty Gases Market?
The increasing demand for semiconductors will contribute to the growth of the specialty gases market. The growing need for efficient electronic devices and innovations in automation and data processing are driving semiconductor demand. Specialty gases are essential in semiconductor production to ensure precision and reliability. In 2023, global semiconductor sales were $526.8 billion, with a 13.1% increase forecasted for the second quarter of 2024, highlighting the growing demand for semiconductors and the specialty gases market.
Which Companies Are Leading in the Specialty Gases Market?
Major companies operating in the specialty gases market are Mitsui Chemicals Inc., Linde plc, Air Liquide S.A., DuPont de Nemours Inc., Air Products and Chemicals Inc., Showa Denko K.K., Airgas, Messer Group GmbH, Norco Inc., Kanto Denka Kogyo Co. Ltd., Praxair, Purity Cylinder Gases Inc., Welsco Inc., ILMO Products Company, Weldstar, American Gas Products, Coregas, MESA International Technologies Inc., Nova Gas Technologies Inc., Concorde Specialty Gases Inc., Electronic Fluorocarbons LLC, Advanced Specialty Gases Inc., Iwatani Corporation
What Specialty Gases Market Trends Are Gaining Traction Across Different Segments?
Companies in the specialty gases market are innovating with advanced specialty gas production modules designed to increase efficiency and meet stringent quality standards. These modules allow real-time monitoring and management, enhancing safety and production oversight. For example, in May 2024, Computers Unlimited, a U.S.-based software company, introduced a new module for their TIMS software platform to improve the production of custom gas mixtures, catering to the industrial gas sector's needs.
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What Are the Top Revenue-Generating Geographies in the Specialty Gases Market?
Asia-Pacific was the largest region in the specialty gases market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty gases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Specialty Gases Market?
2. What is the CAGR expected in the Specialty Gases Market?
3. What Are the Key Innovations Transforming the Specialty Gases Industry?
4. Which Region Is Leading the Specialty Gases Market?
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