The global specialty gas market was at USD 9.8 billion in 2020 and is predicted to grow at a compound annual expansion rate (CAGR) of 5.8% between 2021 and 2026.
Specialty gas generally refer to rare and very high purity gases (99.995% and higher). The unique properties of specialty gases can improve yields, reduce costs, and optimize performance in many industries such as electronics, petrochemicals, analytics, pharmaceuticals, etc. The region is supposed to present itself as an important prospect for market expansion. Welding and cutting, metal fabrication, lighting, and chemical production are some of the dominant industrial applications in Asia Pacific.
Growing call in car care health and Growing need for very high purity gases in manufacturing Applications are predicted to drive market expansion. The use of specialty gases is likely to lead to significant development in the field of manufacturing and sanitary applications. Products made using various blending techniques are making substantial progress in both research and development and commercialization.
The possibility of a helium shortage in the future fuels research and development to find safer substitutes, such as hydrogen. Escalated research and development activities are predicted to create expansion prospects for worldwide market players during the foreseen period. Additionally, strategic acquisition and consolidation within the industry is predicted to create many opportunities for major players, which in turn will increase worldwide market expansion. Some of the specialty gases are believed to be responsible for worldwide warming, so their use is gradually being controlled by voluntary restrictions or legislation. Significant emphasis is placed on reducing emissions, as well as restrictions on applications where there are environmentally friendly alternatives that are economically and technically feasible.
The Linde Group announced the introduction of a new line of welded panels as part of its REDLINE® gas supply equipment line. The panels, which combine face seal connections with advanced welding techniques, mitigate the possibility of gas leaks compared to more traditional panels that use standard threaded connections.
Air Liquide in the United States was pleased to announce the launch of its new customer-centric website focused on specialty and industrial gas solutions for the United States industrial sectors.
The worldwide specialty gases market is predicted to register significant expansion during the foreseen period, due to the excess benefits it offers, such as improved efficiency, reduced costs and optimized performance. Specialized application of specialty gases in various industries such as electronics, manufacturing, biotechnology, academia, automotive, healthcare, and semiconductors has led to an increase in call for specialty gases, resulting in escalated call of special gases. Expansion of the worldwide specialty gases market compared to foreseen final point. Specialty gases that are employed commercially include purity gases, carbon gases, noble gases, and halogen gases. Also, the escalating call for specialty gases in applications such as plasma display panels and voltaic cells is also predicted to drive the worldwide market during the outlook period. The expansion of the electronics industry is leading to a high use of specialty gases that will drive the global specialty gases market. Certain specialty gases such as helium, hydrogen, and other high-purity gases are in greater call than ever. The escalating use of specialty gases in photovoltaics for power and other uses will drive the worldwide market.
Escalating regulations and restrictions on the production and quality control of specialty gases, coupled with the growing threat of specialty gas substitutes, are predicted to negatively impact the expansion of the global specialty gases market to some extent.
The expansion of the healthcare industry, coupled with a very aging demographic structure, is also predicted to boost worldwide market expansion during the foreseen period. Other factors driving the expansion of the worldwide market include escalated environmental awareness along with increasing call for bio-based products, escalating call from the food and beverage industry, the chemical industry, escalating application in manufacturing production of thermal windows, etc. In the electronics industry, one of the main applications of special gases are LEDs, which are in great call by consumers, due to their advantages such as lower energy consumption and longer life, compared to other light sources.
Market penetration is a challenge for many players present in the specialty gases industry and can affect worldwide market expansion during the foreseen period.
Market Size Available
2019 – 2025
2020 - 2025
By Product, Type, Consumption, Distribution Channel and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
The Linde Group, Air Liquide, Southern Industrial Gas Sdn Bhd, Air Products and Chemicals Inc, Praxair Technology, Inc., Showa Denko K.K., Messer Group Gmbh, Mitsui Chemicals Inc., Taiyo Nippon Sanso Corporation
The carbon dioxide segment is predicted to be a prominent segment in the market due to escalating call from various end-use industries such as manufacturing, electronics, healthcare and chemicals, as well as the growing field of applications. for analytical purposes and instrument calibration. Escalating call for rare gas from the manufacturing and electronics industries is predicted to drive market expansion.
Healthcare applications are predicted to be the largest segment of the specialty gases market, growing by 27.7% in 2021. The highest preference in the healthcare industry due to the higher applicability rate of medical applications is the driving force market expansion. The manufacturing segment accounted for 20.5% of worldwide call in 2021. The large proportion can be credited to a large manufacturing industry and requires very high purity and other specialty gases for specific applications.
The Specialty Gas Market Report includes the segmentation of Regions:
The North American specialty gas market is currently dominating the world marketplace due to the expansion of the healthcare industry. The Asia-Pacific market is predicted to post the fastest expansion rate during the foreseen period, due to escalating call from end-use industries such as automotive, manufacturing, and healthcare. The Chinese market is predicted to dominate the Asia Pacific specialty gases market during the conjecture period. Asia-Pacific is the largest regional market due to the presence of many end-use industries such as healthcare, electronics, manufacturing, and pharmaceuticals in the region. Massive investments in the development of custom blending techniques and the adoption of new technologies for the production process, equipment and packaging are predicted to drive regional expansion. Government assistance to strengthen the manufacturing and electronics industry, such as subsidies, trade promotion, supportive policies and escalated foreign investment, is predicted to increase call for products during the period. The Belt and Road Initiative in China and the Make in India Initiative in India are predicted to create tremendous opportunities and create an enabling environment for manufacturing industries in the coming years.
The call for products in Europe to be positively influenced by the expansion stabilization of the industry, the launching of the creation of installations, the technological progress in packaging, the sales available on the level of life. Government support investments for specialty gas production should promote market expansion. North America is one of the important markets due to the significant production of specialty gas in this region. The massive investments made in the development of mixing techniques and technologies for the production process in the United States and Canada are predicted to increase the call for products.
Coronavirus has definitely pushed the O&G industry in India to sit down and reconsider what should be included in business continuity plans. However, leaders who seize this opportunity to start thinking about the pervasive changes needed to their operating models, combining an agile operating mindset, long-term vision, and partner ecosystems, faster than others, will likely come out stronger the dust settles. The O&G industry is generally competent in disaster response and its effectiveness has been demonstrated in various disaster scenarios in the past. With COVID-19 as well, the industry has performed quite well so far, as evidenced by near-continuous operations and the availability of different fuels, almost throughout the country. However, most O&G CXOs believe that the industry recovery will likely be longer than predicted.
Some of the major players operating in this market are
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Specialty Gas Market, By Product
6.1.3 Ultra-high purity
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Specialty Gas Market, By Application
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Application
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Product
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Product
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Product
7.6.3 By Application
8. Key Player Analysis
8.1 The Linde Group
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Air Liquide
8.3 Southern Industrial Gas Sdn Bhd
8.4 Air Products and Chemicals Inc
8.5 Praxair Technology, Inc.
8.6 Showa Denko K.K.
8.7 Messer Group Gmbh
8.8 Mitsui Chemicals Inc.
8.9 Taiyo Nippon Sanso Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures