High Purity Methane Gas Market, by Application (Chemical Synthesis, Heat Detection, R D Laboratory, Transistors Sensors, Power Electronic, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact analysis

• COVID-19 is an incomparable global public health emergency that has affected almost every industry so far and the long-term effects projected to impact the industry growth of the high purity methane gas market.
• The high purity methane gas market is expected to witness a slowdown, owing to decline in demand and supply chain disruptions due to the global COVID-19 outbreak.
• During the pandemic, the Chemical Synthesis, Heat Detection, R &D Laboratory, Transistors & Sensors, Power Electronic were temporarily on halt, which has resulted in less consumption of high purity methane gas in these industries, which in turn has adverse impact on the market.
• The trade restrictions due to the COVID-19 pandemic hamper demand and supply chain of the high purity methane gas market.

Top Impacting Factors

Graphene is produced with the help of purity methane gas, graphene is used in the manufacturing of microchips or transistors, both essential elements in virtually all electronic devices. The growing usage of graphene in electronic components and semiconductors, along with the increasing capacity of installed semiconductors, integrated circuits employed in various electronic equipment, and the development of new technologies, is driving the market for high purity methane gas. However, the high cost of expenses for the processing of the gas. Blending technology, cylinder preparation, laboratory analysis, and statistical quality control are necessary to produce high purity gases. The construction of a factory requires a huge investment and other expenses such as maintenance and installation of technology, also require considerable capital. Environmental risks aligned with methanol when used as fuel, which is restraining the growth of the market. Additionally, increasing demand for hydrogen as a clean fuel in the transportation sector is acting as an opportunity for market growth. Hydrogen is the most generous and light weight of the elements and is odorless and harmless.

Methane is a powerful greenhouse gas emitted by human activities such as leakage from natural gas systems and the raising of livestock, as well as by natural sources such as wetlands. It has a direct influence on the climate and a number of indirect effects on human health, crop yields, and the quality and productivity of vegetation through its role as an important antecedent the formation of tropospheric ozone.

Market Trends

• In October 2020, Linde Plc went into a long-term agreement with Samsung Electronics to supply super high virtue modern gases for its most recent semiconductor facilities in Pyeongtaek, South Korea. Linde is as of now the fundamental provider of industrial gases to Samsung's existing facilities in Pyeongtaek. 
• In February 2020, Air Liquide S.A. and, BASF SE signed a long-term agreement with the Antwerp bowl, Belgium. Air Liquide went into a 15-year consent to recharge its air gas supply to existing establishments and give extra oxygen to another ethylene oxide plant to be worked by BASF. Furthermore, Air Liquide will buy some portion of the methane division generated during the BASF production measure and valorize it as a feedstock in its hydrogen production plants, adding to a circular economy and decreasing CO2 emissions of up to 15,000 tons each year on the Antwerp site. 
• In March 2017, Sumitomo Seika Chemicals and Xergi (Denmark) undergoes into merger and collaboration to develop and advance a biogas plant engineering business in Japan. Biogas, which comprises for the most part of methane, is produced by methane fermentation in an anaerobic digestion process including wet organic biomass materials. It tends to be used in a gas engine cogeneration system for heat and electricity production.

  Key Benefits of the Report

• This study presents the analytical depiction of the high purity methane gas industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the high purity methane gas market share.
• The current market is quantitatively analyzed to highlight the high purity methane gas market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed high purity methane gas market analysis based on competitive intensity and how the competition will take shape in coming years