The Global Specialty Gas Market Size accounted for USD 9.7 Billion in 2021 and is estimated to garner a market size of USD 20.7 Billion by 2030 rising at a CAGR of 8.9% from 2022 to 2030. High demand for specialty gases from end-use industries drives the specialty gas market value. In addition, big calls from MRI application are a popular specialty gas market trend that is expected to boost the industry share during the forthcoming years from 2022 to 2030.
Specialty Gas Market Report Key Highlights
Calibration gases, zero gases, and bump test gases are examples of specialty gases. They can be pure gases or gas mixtures containing components at concentrations ranging from percent to part per billion and, in some cases, part per trillion. Furthermore, specialty gases are used in analytical methods such as gas and liquid chromatography, Fourier transform infrared (FTIR), and non-dispersive infrared (NDIR). With specialty gases, proper specialty equipment, including dedicated pressure regulators and distribution systems, is always used to ensure the quality grade of the gas without compromising contact with substandard components. The higher the quality grades of the gas, the higher the quality of the equipment.
Global Specialty Gas Market Dynamics
Specialty Gas Market Report Coverage
|Market||Specialty Gas Market|
|Specialty Gas Market Size 2021||USD 9.7 Billion|
|Specialty Gas Market Forecast 2030||USD 20.7 Billion|
|Specialty Gas Market CAGR During 2022 - 2030||8.9%|
|Specialty Gas Market Analysis Period||2018 - 2030|
|Specialty Gas Market Base Year||2021|
|Specialty Gas Market Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Praxair, Inc., Air Products and Chemicals, Inc., The Messer Group GmbH, Cambridge Isotope Laboratories Inc., Linde plc, Air Liquide, Weldstar, MESA Specialty Gases & Equipment., Norco Inc., Taiyo Nippon Sanso Corporation, Showa Denko K. K., and Novo Gas Technologies.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Specialty Gas Market Dynamics
Wide applications of specialty gases in electronic industry foster the growth of the global market
In the electronic industry, specialty gases account for the largest share of semiconductor manufacturers' chemical and material spending. Specialty gases are used in the electronic industry for the fabrication of electronic devices, which are then assembled in systems and a variety of processes such as film deposition, film etching, substrate doping, and chamber cleaning. The devices-semiconductors, LEDs, and ad displays-are processed on a large substrate before being separated and assembled. One of the most important factors influencing the utility of specialty gases in the electronic industry is the purity and consistency demands placed on the gas supply, rather than the complexity of the gases and mixtures supplied. Product purity and consistency, which are frequently at the limits of analytical capability, must be combined with strict application of statistical process control in manufacturing and absolute delivery reliability. Fluorocarbons, hydrocarbons, deposition precursors, dopants, corrosives (halides/hydrates), and rare gas mixtures are examples of specialty gases used in the electronics industry.
Specialty gas in healthcare industry is gaining high attention in the global market
The importance of gas in medical processes and systems cannot be underestimated. Medical gases and specialty gas mixtures are used in a variety of medical procedures such as patient care, pathology, and research. Furthermore, businesses are heavily involved in the provision of specialty gases in the healthcare sector. GCE, for example, has been a pioneer in gas control equipment for more than 100 years, with headquarters in Sweden and manufacturing facilities around the world. Aside from that, the GCE Druva product line focuses on high-purity and specialty gases used in manufacturing processes. Analytical laboratories, semiconductors, automobiles, petrochemicals, and other high-tech industries are among the products. Standard valves, residual pressure valves (RPV), the industrial and medical valve integrated pressure regulators (VIPR), stainless steel specialty gas valves, medical valves, dip tubes, and guards are all part of the GCE cylinder valves product line.
Specialty Gas Market Segmentation
The worldwide specialty gas market is split based on product, application, and geography.
Specialty Gas Market By Product
According to our specialty gas industry analysis, the carbon gas segment is expected to have a significant market share during the forecast period. This is due to an increase in demand from various end-user industries, including manufacturing, electronics, healthcare, and chemicals. In addition, broad applications for analytical purposes and instrument calibration have grown in importance in the global market. The manufacturing and electronics industries are expected to drive up demand for noble gases.
Specialty Gas Market By Application
As per our specialty gas market forecast, the healthcare industry will be the most important segment of the specialty market in the coming years. Rising demand for specialty gases in the healthcare sector, owing to increased applicability in medical applications, is propelling industry growth globally.
Specialty Gas Market Regional Outlook
The Middle East & Africa (MEA)
Specialty Gas Market Regional Analysis
Currently, North America is the largest market, accounting for the majority of the global specialty gas market. Because the region has a large infrastructure facility for installation as well as production capacities for specialty gases, it boosts the growth of the regional market. But apart from that, Asia Pacific will be the fastest growing regional specialty gas market. As the manufacturing and electronic industries expand at a faster rate in the Asia Pacific region, demand for specialty gases increases. The presence of major players in this region also promotes the growth of the global specialty gas market. Due to the rising demand for bulk and electronic specialty gases in the Asia Pacific region, China is the largest market for specialty gases in the region. Because of the increased preference for the healthcare sector and applications in food and beverages, electronics, and pharmaceuticals, high-purity gas production is being carried out on a larger scale in this region. Furthermore, the global market has expanded significantly in recent years, owing primarily to rising demand in the Asia-Pacific region. The global market is expected to expand significantly in the coming years, owing to the expanding healthcare sector and increased demand for photovoltaic cells and plasma display panels.
Europe, on the other hand, is positively influencing market growth as a result of a high rate of facility establishment, technological advancement in packaging, high disposable incomes, and an improved standard of living. Furthermore, supportive government investment in specialty gas production is one of the major factors contributing to the growth of the global specialty gas market.
Specialty Gas Market Players
The global specialty gas companies profiled in the report include Air Liquide, Air Products and Chemicals, Inc., Cambridge Isotope Laboratories Inc., Linde plc, MESA Specialty Gases & Equipment., Norco Inc., Novo Gas Technologies, Praxair, Inc., The Messer Group GmbH, Taiyo Nippon Sanso Corporation, Showa Denko K. K., and Weldstar.
The market size of specialty gas market in 2021 was accounted to be USD 9.7 Billion.
The projected CAGR of specialty gas market during the analysis period of 2022 to 2030 is 8.9%.
The prominent players of the global specialty gas market are Air Liquide, Air Products and Chemicals, Inc., Cambridge Isotope Laboratories Inc., Linde plc, MESA Specialty Gases & Equipment., Norco Inc., Novo Gas Technologies, Praxair, Inc., The Messer Group GmbH, Taiyo Nippon Sanso Corporation, Showa Denko K. K., and Weldstar.
North America held the dominating specialty gas during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for specialty gas s during the analysis period of 2022 to 2030.
Rising demand for photovoltaic products, growing application of specialty gas from electronics industry, and rapidly growing healthcare sector drives the growth of global specialty gas market.
Based on product, carbon segment is expected to hold the maximum share specialty gas market.