Market Research Report
Specialty Gas Market Size, Share & Trends Analysis Report By Product (Noble, Carbon, Ultra-high Purity, Halogen), By Application (Manufacturing, Electronics, Healthcare), And Segment Forecasts, 2021 - 2028
|Specialty Gas Market Size, Share & Trends Analysis Report By Product (Noble, Carbon, Ultra-high Purity, Halogen), By Application (Manufacturing, Electronics, Healthcare), And Segment Forecasts, 2021 - 2028|
Published: March 16, 2021
Grand View Research, Inc.
Content info: 107 Pages
Delivery time: 2-10 business days
The global specialty gas market size is expected to reach USD 18.22 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.8% from 2021 to 2028. Increased preference for specialty gases in the healthcare sector owing to an increased rate of applicability in medical applications is a driving factor for the strong market growth.
Increased rate of applicability in key applications such as manufacturing (welding and cutting, lighting, laser, chemicals), healthcare (medical devices, pharmaceutical drugs manufacturing, anesthetic), electronics (flat panel displays, semiconductor devices), and analytical and calibration instruments are expected to drive market growth.
The manufacturing and electronics industries are flourishing at an increased rate in emerging economies of Asia Pacific. Government initiatives to strengthen analytical testing capabilities, growing expenditure on drugs and medical devices by public health organizations, technological advancement, and government investments in the healthcare and electronics industries are increasing the demand for specialty gas.
Prevailing energy and environment-friendly practices coupled with growing societal awareness towards green products and solutions are anticipated to develop more stringent environmental and emission norms over the forecasted period. Furthermore, key players such as Air Liquide, Praxair, Inc., Linde AG, etc. are developing clean technologies and introducing innovative solutions that will lower emissions and pollutants.