Specialty Gases Market - By Type (High-purity Gases, Noble Gases, Carbon Gases, Halogen Gases, and Other Types), End-user Industry (Automotive, Electronics, Healthcare, Food and Beverage, Oil and Gas, and Other End-user Industries), - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Specialty Gases Market held USD 9.64 billion in 2020 and will grow with a CAGR of 8.5% from 2020-2030. Ultra-high purity and advanced applications describe the specialty gases. Automotive, telecommunications, hospitals, engineering, semi-conductors, biotechnology, and academia are major industries for the end-use of gas specialties. Natural gases,halogen gases, high-purity gases, and noble gases are the various commercially used specialty gases. A plethora of applications across various industries promises to expand robustly over the forecast era.

Market Dynamics and Factors:

Growing demand for specialized applications such as photovoltaic cells and world-wide plasma display panels promises a promising future outlook for the industry. Growing healthcare industry is being promoted in regions with a large aging population to further boost the development of the global economy and growth in specialty gases market. Major infrastructure development projects in the emerging economies like Brazil, China, and India give industry participants ample opportunities. In addition, to complement market growth, rapid technical advances and product innovations are further expected to increase the growth of specialty gases market. Rapid developments in the electronics and automotive industries are assumed to present themselves as significant opportunities for the specialty gas industry because of growing demand in Asia Pacific. Growing understanding of the environment and creative demand for bio-based goods is expected to give the industry participants huge opportunities. Nonetheless, regulatory constraints along with the threat of alternatives are expected to threaten global market growth.

Market Segmentation:

Based on the type, the market is bifurcated into high-purity gases, noble gases, high-purity gases, halogen gases, carbon gases and other types. On the basis of end-user, the market is segmented into electronics, oil and gas,  healthcare, automotive, food and beverage and other end-user industries. Depending upon the geography, the market can be classified into segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

The carbon-based segment made up the market's largest component. The section includes carbon dioxide, carbonyl sulfide, and other gasses deriving from oil.

Geographic Analysis:

Over the last few years North America has become the world market leader in the specialty gases market, followed by Europe and Asia Pacific. Due to its aging population, North America is believed to be undergoing rising healthcare industry. Asia Pacific is expected to see rapid growth through multiple end-use industries such as healthcare, manufacturing and automotive specialty gases, thus making it an effective player in specialty gases market. As a result of rapid industrialization, China dominates the Asia Pacific specialty gases market and is expected to see a further increase in the demand for specialty gas. During 2016 North America held the largest market share in the global demand for specialty gasses. One of the reason for growth of this region is due to the involvement of many car manufacturers who are heavily dependent for their testing requirements on specialty gasses. North America is also a key medical and science equipment manufacturing area, such as NMR, LHC, MRI and energy reactors, which consumes a large amount of specialty gases market.

Competitive Scenario:

Key players operating in the global specialty gases market are- Praxair Inc., Air Products & Chemical Inc., Air Liquide SA, Linde Group , Showa Denko K.K., Taiyo Nippon Sanso Corporation, Iwatani Corporation, Messer Group GmbH, Air Water Inc., and Coregas Pty Ltd.

Specialty Gases Market Report Scope