Specialty Gas Market
Specialty Gas Market Forecasts to 2028 - Global Analysis By Product (Halogen Gases, Ultra-high Purity Gases, Carbon Gases, Noble Gases and Other Products) and Application and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $11.66 BN |
|
Projected Year Value (2028) |
US $17.50 BN |
|
CAGR (2022 - 2028) |
7.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Specialty Gas Market is accounted for $11.66 billion in 2022 and is expected to reach $17.50 billion by 2028 growing at a CAGR of 7.0% during the forecast period. Speciality gases are high purity gaseous compounds that are crucial to many industries, including the chemical, pharmaceutical, semiconductor, healthcare, and environmental markets. These gases are frequently used in industrial operations as intermediates and analytical lab gases. The most prevalent varieties of speciality gases include high purity, noble, carbon, and halogen gases. They could be either pure gases or gas mixtures with components present in concentrations ranging from percent levels down to parts per billion and occasionally even parts per trillion. These gases are used in analytical techniques such as gas and liquid chromatography, fourier transform infrared (FTIR), and non-dispersive infrared (NDIR).
According to the National Bureau of Statistics (NBS) of China, the overall profit of China's electronics manufacturing businesses increased by 38.9% year-on-year in 2021, thus positively impacting the market's growth.
Market Dynamics:
Driver:
Growing demand of speciality gases
The need for speciality gases has increased as a result of specialised applications of specialty gases in numerous industries, including semiconductors, biotechnology, automotive, manufacturing, electronics, and healthcare, expansion of the global market for speciality gases in comparison to the predicted end result. Purity gases, carbon gases, noble gases, and halogen gases are examples of specialty gases used in industry. Additionally, it is anticipated that the demand for speciality gases in products like plasma display panels and solar cells would continue to grow throughout the forecast period.
Restraint:
Strict regulations
The rise of the worldwide specialty gas market is anticipated to be adversely impacted to some extent by rising regulations and limits on the manufacturing and quality control of specialty gases, together with the growing danger of specialty gas replacements. Speciality gases are also thought to contribute to global warming, hence several countries throughout the world have put restrictions on their use. Additionally, many businesses in the speciality gas industry face difficulties entering new markets, which could hinder the anticipated rise of the global market.
Opportunity:
Expansion of specialty gases in various industries
The rapidly ageing demographic structure and the growing healthcare sector are both expected to accelerate global market expansion during the anticipated period. Increased environmental awareness and demand for bio-based products, as well as rising demands from the food and beverage industry, the chemical industry, and the manufacturing of thermal windows, are additional variables that are fueling the growth of the global market. LEDs are one of the primary uses of special gases in the electronics industry because of its advantages over traditional light sources, such as lower energy consumption and longer life.
Threat:
Slowdown of the manufacturing Sector
Concerning the expansion of the market for electronic specialty gases, the recent slowdown in manufacturing and the potential for a recession in the global economy are major issues. The primary end-user of electronic speciality gases, accounting for roughly more than half of global sales of such gases, is the manufacturing industry. Additionally, the weaker economic signals coming from South Korea, Japan, and Singapore—all of which are significant producers of electronic components—will probably have a negative effect on the expansion of the market for electronic specialty gases.
Covid-19 Impact
The market in 2020 deteriorated as a result of COVID-19. Lockdowns in multiple nations forced the temporary closure of the majority of production facilities, which reduced demand for many specialised gases. Additionally, because of a rise in coronavirus cases, construction activity was halted, which reduced the use of welding gases like hydrogen and argon. On the other hand, because of the rise in demand for high-purity gases like oxygen, nitrogen, and other specialty gases, the pandemic has opened up new opportunities in the healthcare sector.
The carbon gases segment is expected to be the largest during the forecast period
The carbon gases segment is estimated to have a lucrative growth. Carbon gases are obtained from a variety of natural sources and employed by end-use sectors like chemicals, oil, food and beverage, and others. A growing number of industrial uses have led to an increase in demand for carbon dioxide and carbon monoxide, in particular. It is projected that rising demand for noble gas from the manufacturing and electronics industries will fuel industry expansion.
The electronics segment is expected to have the highest CAGR during the forecast period
The electronics segment is anticipated to witness the highest CAGR growth during the forecast period, due to the steadily rising demand for personal electronic gadgets like gaming consoles, portable computers, and cell phones. Light-emitting diodes (LEDs), which find significant customer demand due to their advantages including reduced energy consumption and longer operating life than other traditional lighting sources, are one of the principal applications of speciality gas in the electronics industry.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to an increase in demand from end-use sectors like the automotive, manufacturing, and healthcare industries. During the hypothesis period, the Chinese market is expected to dominate the Asia Pacific specialty gases market. Due to the abundance of end-use sectors there, including healthcare, electronics, manufacturing, and pharmaceuticals, Asia-Pacific is the largest regional market.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, due to this area produces a substantial amount of speciality gas. It is anticipated that the significant expenditures made in the development of mixing methods and technologies for the manufacturing process in the United States and Canada will enhance demand for goods. The expansion of the speciality petrol industry is also being influenced by the expansion of the automotive and healthcare industries.
Key players in the market
Some of the key players profiled in the Specialty Gas Market include Weldstar, Messer Group GmbH, Showa Denko K.K., Air Products and Chemicals, Inc., MESA Specialty Gases & Equipment, Air Liquide, Coregas, Taiyo Nippon Sanso Corporation, Linde plc, Norco Inc., 3M Company, Iwatani Corporation, Kanto Denka Kogyo Co. and Nippon Sanso Holdings.
Key Developments:
In February 2023, Linde announced a long-term arrangement with OCI to supply clean hydrogen and other industrial gases to the company's new world-scale blue ammonia factory in Beaumont, Texas. Linde will construct, own, and manage an on-site complex that will supply OCI's 1.1 million tons of blue ammonia production with clean hydrogen and nitrogen per year. Linde will provide clean hydrogen to OCI by sequestering more than 1.7 million tons of CO2 emissions yearly.
In February 2023, Air Products (a major gas separation and purification membrane producer) introduced its new product- PRISM InertPro Nitrogen Membrane System- at the Middle East Oil and Gas Show in Bahrain. The PRISM InertPro is a new nitrogen membrane system for the energy and oil and gas industry that is based on an innovative, flexible modular platform providing nitrogen systems exhibiting world-class efficiencies.
Products Covered:
• Halogen Gases
• Ultra-high Purity Gases
• Carbon Gases
• Noble Gases
• Other Products
Applications Covered:
• Electronics
• Healthcare
• Institutions
• Manufacturing
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Specialty Gas Market, By Product
5.1 Introduction
5.2 Halogen Gases
5.3 Ultra-high Purity Gases
5.4 Carbon Gases
5.5 Noble Gases
5.6 Other Products
6 Global Specialty Gas Market, By Application
6.1 Introduction
6.2 Electronics
6.3 Healthcare
6.4 Institutions
6.5 Manufacturing
6.6 Other Applications
7 Global Specialty Gas Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Weldstar
9.2 Messer Group GmbH
9.3 Showa Denko K.K.
9.4 Air Products and Chemicals, Inc.
9.5 MESA Specialty Gases & Equipment
9.6 Air Liquide
9.7 Coregas
9.8 Taiyo Nippon Sanso Corporation
9.9 Linde plc
9.10 Norco Inc.
9.11 3M Company
9.12 Iwatani Corporation
9.13 Kanto Denka Kogyo Co.
9.14 Nippon Sanso Holdings
List of Tables
1 Global Specialty Gas Market Outlook, By Region (2020-2028) ($MN)
2 Global Specialty Gas Market Outlook, By Product (2020-2028) ($MN)
3 Global Specialty Gas Market Outlook, By Halogen Gases (2020-2028) ($MN)
4 Global Specialty Gas Market Outlook, By Ultra-high Purity Gases (2020-2028) ($MN)
5 Global Specialty Gas Market Outlook, By Carbon Gases (2020-2028) ($MN)
6 Global Specialty Gas Market Outlook, By Noble Gases (2020-2028) ($MN)
7 Global Specialty Gas Market Outlook, By Other Products (2020-2028) ($MN)
8 Global Specialty Gas Market Outlook, By Application (2020-2028) ($MN)
9 Global Specialty Gas Market Outlook, By Electronics (2020-2028) ($MN)
10 Global Specialty Gas Market Outlook, By Healthcare (2020-2028) ($MN)
11 Global Specialty Gas Market Outlook, By Institutions (2020-2028) ($MN)
12 Global Specialty Gas Market Outlook, By Manufacturing (2020-2028) ($MN)
13 Global Specialty Gas Market Outlook, By Other Applications (2020-2028) ($MN)
14 North America Specialty Gas Market Outlook, By Country (2020-2028) ($MN)
15 North America Specialty Gas Market Outlook, By Product (2020-2028) ($MN)
16 North America Specialty Gas Market Outlook, By Halogen Gases (2020-2028) ($MN)
17 North America Specialty Gas Market Outlook, By Ultra-high Purity Gases (2020-2028) ($MN)
18 North America Specialty Gas Market Outlook, By Carbon Gases (2020-2028) ($MN)
19 North America Specialty Gas Market Outlook, By Noble Gases (2020-2028) ($MN)
20 North America Specialty Gas Market Outlook, By Other Products (2020-2028) ($MN)
21 North America Specialty Gas Market Outlook, By Application (2020-2028) ($MN)
22 North America Specialty Gas Market Outlook, By Electronics (2020-2028) ($MN)
23 North America Specialty Gas Market Outlook, By Healthcare (2020-2028) ($MN)
24 North America Specialty Gas Market Outlook, By Institutions (2020-2028) ($MN)
25 North America Specialty Gas Market Outlook, By Manufacturing (2020-2028) ($MN)
26 North America Specialty Gas Market Outlook, By Other Applications (2020-2028) ($MN)
27 Europe Specialty Gas Market Outlook, By Country (2020-2028) ($MN)
28 Europe Specialty Gas Market Outlook, By Product (2020-2028) ($MN)
29 Europe Specialty Gas Market Outlook, By Halogen Gases (2020-2028) ($MN)
30 Europe Specialty Gas Market Outlook, By Ultra-high Purity Gases (2020-2028) ($MN)
31 Europe Specialty Gas Market Outlook, By Carbon Gases (2020-2028) ($MN)
32 Europe Specialty Gas Market Outlook, By Noble Gases (2020-2028) ($MN)
33 Europe Specialty Gas Market Outlook, By Other Products (2020-2028) ($MN)
34 Europe Specialty Gas Market Outlook, By Application (2020-2028) ($MN)
35 Europe Specialty Gas Market Outlook, By Electronics (2020-2028) ($MN)
36 Europe Specialty Gas Market Outlook, By Healthcare (2020-2028) ($MN)
37 Europe Specialty Gas Market Outlook, By Institutions (2020-2028) ($MN)
38 Europe Specialty Gas Market Outlook, By Manufacturing (2020-2028) ($MN)
39 Europe Specialty Gas Market Outlook, By Other Applications (2020-2028) ($MN)
40 Asia Pacific Specialty Gas Market Outlook, By Country (2020-2028) ($MN)
41 Asia Pacific Specialty Gas Market Outlook, By Product (2020-2028) ($MN)
42 Asia Pacific Specialty Gas Market Outlook, By Halogen Gases (2020-2028) ($MN)
43 Asia Pacific Specialty Gas Market Outlook, By Ultra-high Purity Gases (2020-2028) ($MN)
44 Asia Pacific Specialty Gas Market Outlook, By Carbon Gases (2020-2028) ($MN)
45 Asia Pacific Specialty Gas Market Outlook, By Noble Gases (2020-2028) ($MN)
46 Asia Pacific Specialty Gas Market Outlook, By Other Products (2020-2028) ($MN)
47 Asia Pacific Specialty Gas Market Outlook, By Application (2020-2028) ($MN)
48 Asia Pacific Specialty Gas Market Outlook, By Electronics (2020-2028) ($MN)
49 Asia Pacific Specialty Gas Market Outlook, By Healthcare (2020-2028) ($MN)
50 Asia Pacific Specialty Gas Market Outlook, By Institutions (2020-2028) ($MN)
51 Asia Pacific Specialty Gas Market Outlook, By Manufacturing (2020-2028) ($MN)
52 Asia Pacific Specialty Gas Market Outlook, By Other Applications (2020-2028) ($MN)
53 South America Specialty Gas Market Outlook, By Country (2020-2028) ($MN)
54 South America Specialty Gas Market Outlook, By Product (2020-2028) ($MN)
55 South America Specialty Gas Market Outlook, By Halogen Gases (2020-2028) ($MN)
56 South America Specialty Gas Market Outlook, By Ultra-high Purity Gases (2020-2028) ($MN)
57 South America Specialty Gas Market Outlook, By Carbon Gases (2020-2028) ($MN)
58 South America Specialty Gas Market Outlook, By Noble Gases (2020-2028) ($MN)
59 South America Specialty Gas Market Outlook, By Other Products (2020-2028) ($MN)
60 South America Specialty Gas Market Outlook, By Application (2020-2028) ($MN)
61 South America Specialty Gas Market Outlook, By Electronics (2020-2028) ($MN)
62 South America Specialty Gas Market Outlook, By Healthcare (2020-2028) ($MN)
63 South America Specialty Gas Market Outlook, By Institutions (2020-2028) ($MN)
64 South America Specialty Gas Market Outlook, By Manufacturing (2020-2028) ($MN)
65 South America Specialty Gas Market Outlook, By Other Applications (2020-2028) ($MN)
66 Middle East & Africa Specialty Gas Market Outlook, By Country (2020-2028) ($MN)
67 Middle East & Africa Specialty Gas Market Outlook, By Product (2020-2028) ($MN)
68 Middle East & Africa Specialty Gas Market Outlook, By Halogen Gases (2020-2028) ($MN)
69 Middle East & Africa Specialty Gas Market Outlook, By Ultra-high Purity Gases (2020-2028) ($MN)
70 Middle East & Africa Specialty Gas Market Outlook, By Carbon Gases (2020-2028) ($MN)
71 Middle East & Africa Specialty Gas Market Outlook, By Noble Gases (2020-2028) ($MN)
72 Middle East & Africa Specialty Gas Market Outlook, By Other Products (2020-2028) ($MN)
73 Middle East & Africa Specialty Gas Market Outlook, By Application (2020-2028) ($MN)
74 Middle East & Africa Specialty Gas Market Outlook, By Electronics (2020-2028) ($MN)
75 Middle East & Africa Specialty Gas Market Outlook, By Healthcare (2020-2028) ($MN)
76 Middle East & Africa Specialty Gas Market Outlook, By Institutions (2020-2028) ($MN)
77 Middle East & Africa Specialty Gas Market Outlook, By Manufacturing (2020-2028) ($MN)
78 Middle East & Africa Specialty Gas Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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