The Growing Demand for Specialty Gases in End-Use Industries is Escalating the Growth of the Specialty Gas Market

Specialty gases are gaseous substances of high purity and are essential to various sectors, including the healthcare, environmental, petrochemical, semiconductor, pharmaceutical, and chemical markets. The increasing demand for specialty gases in these end-use sectors is propelling the market growth during the forecast period.  For instance, the increasing demand for specialty gases in manufacturing semiconductor devices and flat panel displays is anticipated to drive the growth of the specialty gases market. Furthermore, specialty gas is expected to gain preference in the healthcare sector owing to increasing consumption of high purity and noble gases in various medical application areas i.e., reanimation process, anesthetic, and mechanical ventilation. Specialty gases are also used in the electronics industry to produce components such as integrated circuits (IC) and silicon wafers which are increasing the demand for specialty gases in the global market. 

The market players are continuously working toward better and more efficient solutions and evolving the life of available offerings through awareness campaigns, and product launches, which will complement the market growth.

According to Marketlook Consulting’ research report “Global Specialty Gas Market Analysis, 2021”, the specialty gas market is anticipated to grow at a CAGR of 5.4% during 2021-29. The market would reach USD 15.7 billion by 2029.

Based on the type of products, the market is segmented into High Purity, Nobel, Carbon, Halogen, and Others. The carbon segment acquired the largest share in 2021 and is expected to continue to dominate the market during the forecast period owing to the increasing demand by various end-use industries such as manufacturing, electronics, healthcare, and chemicals as well as growing application scope for analytical purposes and instrument calibration. Increasing demand for noble gas from manufacturing and electronics industries is further anticipated to propel the industry growth.

“Global Specialty Gas Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for specialty gas providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Asia Pacific Dominated the Market

Based on leading regions, Asia Pacific dominated the global specialty gas market in 2021 and is projected to maintain its dominance during the forecasted period 2021-29 owing to the presence of numerous end-use industries such as healthcare, electronics, manufacturing, pharmaceutical, etc. China is the largest market for specialty gas in the Asia Pacific region owing to the increasing demand for bulk and electronic specialty gases in this region. Furthermore, massive investments and adoption of new technology for the production process, equipment, and packaging in the Asia Pacific is projected to fuel the demand for the specialty gas market in the forthcoming period as stated in Marketlook Consulting research report “Specialty Gas Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global specialty gas market are Air Liquide S.A., Air Products Inc, Linde PLC, Gasco Precision Calibration Mixtures, Iwatani Corporation of America, Mesa Specialty Gases & Equipments, Messer Group GmbH, Mitsui Chemicals Inc, Norco Inc, Airgas Inc.

Market Segmentation:

• By Product Type (High Purity, Nobel, Carbon, Halogen, Others)
• By Application (Manufacturing, Electronics, Healthcare, Institutional, Others)
• By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
• By Company (Air Liquide S.A., Air Products Inc, Linde PLC, Gasco Precision Calibration Mixtures, Iwatani Corporation of America, Mesa Specialty Gases & Equipment, Messer Group GmbH, Mitsui Chemicals Inc, Norco Inc, Airgas Inc.)

Key questions answered in the study:

• What are the current and future trends of the specialty gas industry?
• How the industry has been evolving in terms of user types demand and application areas?
• How the competition has been shaping across the countries followed by their comparative factorial indexing?
• What are the key growth drivers and challenges for the specialty gas industry?
• What are the customer orientation, purchase behavior, and expectations from the specialty gas firms across various regions?