Specialty Gas Market is estimated to be US$ 28.3 million by 2034 with a CAGR of 7.50% during the forecast period

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Published Date: March 2024

Specialty Gas Market was valued at US$ 13.7 Billion in 2024 and is projected to grow at a CAGR of 7.50% to reach US$ 28.3 Billion by 2034. Specialty gases are defined as rare or ultra-pure gases, as well as all minor gases employed in specialized applications. Calibration gases, zero gases, carrier gases, span gases, instrumentation gases, and bump test gases all fall under the category of specialty gases. They can be pure gases or gas mixtures including components in quantities ranging from tenths of a percent to parts per billion and even trillions of a percent. In analytical methods including gas and liquid chromatography, as well as Fourier transform infrared (FTIR) and non-dispersive infrared (NDIR), specialty gases are utilised (NDIR).

The report "Specialty Gas Market, By Type (Carbon-Based Gases, Noble Gases, Halogen-Based Gases, and Atmospheric Gases), By Application (Manufacturing, Electronics, Healthcare, Automotive, Onshore, and Other), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2034’’

Key Highlights:

In December 2021, Nikkiso Cryogenic Industries' Clean Energy & Industrial Gases Group (Group) – a subsidiary of Nikkiso Co., Ltd – has announced that service provider Soletec Group (Soletec) will become Nikkiso Cryogenic Services' (NCS) Authorised Representative and Service Partner in Qatar.
In December 2021, Alphasense, a UK-based gas sensor manufacturer, has been acquired by AMETEK, an electronic instrument and electromechanical device expert.

Analyst View:

The global market is predicted to rise significantly in the future, owing to increased demand for photovoltaic cells and plasma display panels, as well as a burgeoning healthcare sector In Asia Pacific, welding and cutting, lighting, metal fabrication, and chemical production are some of the most dominant industry applications which is leading the market growth. Wet procedures are being supplanted by gas-phase engraving and cleaning, which necessitates the employment of speciality gases, due to the increasing need for extra complicated semiconductors. The pandemic, on the other hand, has created new opportunities in the healthcare sector as demand for high-purity gases such as oxygen, nitrogen, and other specialty gases has increased.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Specialty Gas Market, By Type (Carbon-Based Gases, Noble Gases, Halogen-Based Gases, and Atmospheric Gases), By Application (Manufacturing, Electronics, Healthcare, Automotive, Onshore, and Other), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2034”

Key Market Insights from the report:

Specialty Gas Market was valued at US$ 13.7 Billion in 2024 and is projected to grow at a CAGR of 7.50% to reach US$ 28.3 Billion by 2034. Specialty Gas market is segmented into type, application and region.

Based on Type, the Specialty Gas Market is segmented into Carbon-Based Gases, Noble Gases, Halogen-Based Gases, and Atmospheric Gases.
Based on Application, the Specialty Gas Market is segmented into Manufacturing, Electronics, Healthcare, Automotive, Onshore, and Other.
By Region, the Specialty Gas Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is likely to be a significant source of market growth.

Competitive Landscape & their strategies of Specialty Gas Market:

The key players in the Specialty Gas market includes Air Liquide, Praxair Inc., Taiyo Nippon Sanso Corporation, Linde Group, Air Products and Chemicals Inc., American Air Liquide Holdings, Airgas Inc., E. I. du Pont de Nemours and Company, Kanto Denka Kogyo Co., Ltd., and Praxair Incorporated.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Market Purview

Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Drivers
  - Restraints
  - Market Opportunities
  - Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
  - Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
  - Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions