The
global Specialty
Gas Market size is anticipated to reach USD 21.81 billion by
2030, expanding at a CAGR of 7.7% from 2023 to 2030, according to a new report
by Grand View Research, Inc. The increasing product adoption in electronics,
manufacturing, and healthcare applications is anticipated to drive market
growth. A rise in spending by governments across the globe to upgrade
healthcare facilities acts as one of the major factors driving the growth of the
market for specialty gas. The increased demand for flat panel displays and
semiconductor devices boosts market growth. The widespread use of specialty gas
as a cleaning gas for thermal chemical vapor deposition for high-tech thin
films is driving their demand. The COVID-19 pandemic negatively impacted the
global market.
The
pandemic disrupted the whole supply chain causing a shortage of raw materials
required for the consumer electronics, food &
beverage, petrochemical, and manufacturing industries. The lower
production in these industries also negatively impacted the demand for
specialty gases. Asia Pacific dominated the market and accounted for the
largest market share of 38.5% in 2022 and is expected to retain its dominance
over the forecast period. The region dominates electronic and semiconductor
manufacturing. China is a manufacturing powerhouse that ranks as the world’s
top producer of automobiles, manufacturing, semiconductors, and other
significant end-use industries. The dominant presence of various end-use
industries in the region is contributing to the market growth.
Related Press
Release@ Specialty
Gas Market Report
Specialty Gas Market Report Highlights
- Based on
product, the carbon gases segment accounted for the largest revenue share
of 30.2% in 2022 and is expected to retain its dominance over the forecast
period. Carbon dioxide and carbon monoxide, in particular, are
in high demand in the market because of their common use in a variety of
industrial applications
- For example,
carbon dioxide in solid and liquid form is used for refrigeration and
cooling. Furthermore, it is useful as an inert gas in chemical processes,
carbon powder storage, and fire extinguishers. In the metals business,
carbon dioxide is used to strengthen the hardness of casting molds
- Based on
application, the electronics segment is expected to grow at a CAGR of 8.3%
over the forecast period. The growth of this segment can be attributed to
the increasing demand for specialty gases in the production of a variety
of electronic devices and components, including semiconductors, display
devices, LED panels, and solar panels
- In November
2022, Air Liquide S.A. announced its plan to innovate and produce
renewable and low-carbon hydrogen at the Grandpuits zero crude with
TotalEnergies. The company invested approximately USD 140 million to
develop a new low-carbon hydrogen unit with a capacity of manufacturing
more than 20,000 tons per year
Specialty Gas Market Report Scope
|
Report Attribute |
Details |
|
Market
size value in 2023 |
USD
12,915.4 million |
|
Revenue
forecast in 2030 |
USD 21.81
billion |
|
Growth
rate |
CAGR of
7.7% from 2023 to 2030 |
|
Base year
for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
|
Report updated |
April 2023 |
Related Reports@
Specialty Gas Market Segmentation
Grand
View Research has segmented the global specialty gas market based on product,
application, and regions:
Specialty Gas Product Outlook (Revenue, USD Million, 2018
- 2030)
- Ultra-high
Purity Gases
- Noble Gases
- Carbon Gases
- Halogen
Gases
- Others
Specialty Gas Application Outlook (Revenue, USD Million,
2018 - 2030)
- Manufacturing
- Electronics
- Healthcare
- Institutions
- Others
Specialty Gas Regional Outlook (Revenue, USD Million,
2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europ
- UK
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- Saudi
Arabia
- UAE
List of Key Players of Specialty Gas Market
- Air Products
and Chemicals, Inc.
- Air Liquide
- Messer Group
GmbH
- Linde plc
- Taiyo Nippon
Sanso Corporation
- MESA
Specialty Gases & Equipment
- Weldstar
- Norco Inc.
- Coregas
- Showa Denko
K. K.
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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