Report Code : A31615
Specialty gases include rare gases, highly pure gases, and gases of the highest mixing accuracy, which are utilized in numerous applications by a broad range of industries such as manufacturing, electronics, and healthcare. Also, an increase in demand for photovoltaic products and plasma display panels is predicted to drive market development during the forecast period. However, growing regulations and restrictions on the production as well as quality control of specialty gas along with the presence of substitutes of specialty gas is projected to hinder the expansion of the market. Nevertheless, the increased usage of specialty gases for production of semiconductors is expected to offer ample growth opportunities for the global specialty gas market.
Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research
According to a new report published by Allied Market Research, titled, “Specialty Gas Market," The specialty gas market size was valued at $10.9 billion in 2021, and is estimated to reach $17.7 billion by 2031, growing at a CAGR of 5% from 2022 to 2031.
Specialty gases include rare gases, highly pure gases, and gases of the highest mixing accuracy, which are utilized in numerous applications by a broad range of industries such as manufacturing, electronics, and healthcare. The growth of the global specialty gas market is majorly attributed to its wide consumption in the electronics and healthcare industries. Specialty gases are widely utilized in the electronics sector to produce electronic devices, which are then assembled in systems and various processes such as film etching, film deposition, substrate doping, and chamber cleaning.
The LEDs, devices-semiconductors, and ad displays are processed on a large substrate before being separated and assembled. Fluorocarbons, corrosives (halides/hydrates), deposition precursors, hydrocarbons, dopants, and rare gas mixtures are examples of specialty gases used in the electronics sector. Helium is the second lightest element & coldest liquid, and it finds applications in electronics manufacturing at numerous points in the fab for cooling, plasma processing, and leak detection.
Further, surge in demand for photovoltaic products and plasma display panels is predicted to drive the market growth during the forecast period. However, growing regulations and restrictions on the production as well as quality control of specialty gas along with the presence of substitutes of specialty gas is projected to hinder the expansion of the market. Nevertheless, increased use of specialty gases for semiconductor production is expected to offer lucrative growth opportunities for the global specialty gas industry.
The specialty gas market is segmented on the basis of product type, application, and region. On the basis of product type, the market is categorized into high purity, nobel, carbon, halogen, and others. Nobel segment is the fastest growing segment. Nobel gases have grown in popularity in various industries such as manufacturing, electronics, and healthcare, globally due to their inertness at high temperatures and use in metal melting applications. By performing cryogenic distillation of air, these gases are utilized to produce very pure oxygen. Increased application cases for nobel gases in the healthcare and industrial sectors, as well as favorable government policies, are likely to drive market expansion. On the basis of application, the market is classified into manufacturing, electronics, healthcare, institutional, and others.
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The specialty gas market share is analyzed these regions. all Asia-Pacific is the fastest growing region. The market growth rate is being driven by an increase in demand for specialty gas from the healthcare and electronics end-use industries. The development of various end-user verticals, particularly in emerging countries, and increasing R&D capabilities will all have a direct and positive impact on the market's growth rate.
The major players operating in the global specialty gas market include Air Liquide S.A.; Airgas, Inc.; Air Products Inc.; Linde plc; Messer group GmbH; MESA International Technologies, Inc.; Norco Inc.; Showa Denko K.K; Taiyo Nippon Sanso Corporation; and Weldstar, Inc. These players have been adopting various key strategies in order to retain leading positions in the market. For instance, in March 2022, Air Liquide launched a new, Normand ’hy large scale renewable hydrogen production project in French state. Further, in December 2021, Messer expanded an argon production plant based on unused residual gases from the ammonia synthesis process at the duslo site in saľa, Slovakia.
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Specialty Gas Market by Product Type (High purity, Nobel, Carbon, Halogen, Others), by Application (Manufacturing, Electronics, Healthcare, Institutional, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
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