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Global Specialty Gases Market Analysis By Application, By Type, By Region, Competition Forecast and Opportunities, 2015-2030
|Global Specialty Gases Market Analysis By Application, By Type, By Region, Competition Forecast and Opportunities, 2015-2030|
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Global Specialty Gas demand stood at 1.85 Million Tonnes in 2020 and is forecast to reach 3.31 Million Tonnes by 2030, growing at a healthy CAGR of 5.88% until 2030. A high level of purity required for the special purpose application falls under the category of special gases. The global specialty gases market is predominantly driven by growing demand for chemicals and specialty gases in the developing economies along with the growing metal and mining industry. The ongoing deployment of power projects, growing construction activities, and rising demand for electronic products have resulted in the increased consumptions of the chemicals used during the production process. The processing of chemicals involves the usage of specialty gases and the growing chemicals market is expected to eventually boost the demand for specialty gases. Based on end-user demand, chemical processing dominates the global Specialty Gas market. The increasing market consumption and increased acceptance trends of the industry are driving the growth of the market in the upcoming ten years. Manufacturing, electronics, healthcare, and academics industry is aiding the growth of the global specialty gas market in the forecast period.
Due to the outbreak of COVID-19 in 2020, the world economy was disrupted. The market was affected drastically, and production and manufacturing units were shut down. Furthermore, the major market players intentionally halted the production keeping their employee's health and wellness in mind. With imposed new regulations of the COVID-19 and proper precautions, the market is anticipated to regain its growth in the years to come. The pandemic is slowly being subsided and the effects are tried to be overcome by various methods. Once the market regains the full function of its production unit, the market is bound to show robust growth in the forecast period.
Pure gases accounted for the largest market share in 2016 and are projected to maintain dominance during the forecast period. Pure gases are used as carrier gases, blanketing gases, etc., and in major applications such as electronics & semiconductors, analytical & calibration, etc.
Specialty Gas is to be distributed in packaged cylinders and the distribution of these gases are mainly carried out in remote locations for which larger distance is needed to be covered. Moreover, the cylinders are required to be properly secured to prevent them from striking each other or from falling which requires extra safety measures. These parameters result in higher transportation charges for specialty gases. The high transportation cost directly impacts the specialty gases price which affects the purchase of specialty gases.
Asia-Pacific is the largest region in the global specialty gases market. The region is likely to maintain its market dominance during the forecast period on account of the presence of major developing economies in the region where the healthcare and electronics sectors are growing rapidly, where specialty gases are majorly used, thereby pushing the growth of global specialty gases market in the coming years. China, India and Indonesia are some of the emerging economies that are undergoing rapid economic transformation and are growing markets for the global Speciality Gas market.
Historical Years: 2015 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2030
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Some of the major players operating in the global Specialty Gas market are Air Liquid SA, Linde Group, Praxair Inc, Air products and Chemicals Inc, Taiyo Nippon Sanso Corporation, Messer Group Gmbh, Iwatawi Corporation, Air Water Inc, Showa Denko K.K. Coregas Pty Ltd. and others.
Specialty Gas is a crude oil derivative and hence its price is directly linked to its fluctuations.
To extract data for the global Specialty Gas market, primary research surveys were conducted with Specialty Gas manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for the global Specialty Gas market over the coming years.
ChemAnalyst calculated Specialty Gas' demand globally by analyzing the historical data and demand forecast. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Specialty Gas manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the global Specialty Gas market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, by Application Electronics & Semiconductor, Analytical & Calibration, Refrigeration, Medical & Healthcare, Manufacturing & Others
Market, by Type Pure Gases & Gas Mixtures
Market, by Distribution Channel Direct/Institutional Sales, Indirect Sales
Market, by Region North America, APAC, Europe, MEA, South America
Market, by Region
North America United States, Mexico, Canada
APAC China, India, Japan, South Korea, Taiwan, Australia,
Europe Germany, Russia, France, United Kingdom, Italy
MEA Saudi Arabia, UAE, South Africa
South America Brazil, Argentina, Venezuela
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.
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