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Specialty Gas Market Size, Share & Trends Analysis - Global opportunity analysis and industry forecast 2030

Specialty Gas Market Size, Share & Trends Analysis - Global...

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Specialty Gas Market Size, Share & Trends Analysis - Global opportunity analysis and industry forecast 2030
Specialty Gas Market Size, Share...
Report Code
RO13/107/1455

Publish Date
18/Dec/2021

Pages
200
PRICE
$ 4950 /-
$ 6250 /-

The global specialty gas market size was US$ 11.1 billion in 2021. The global specialty gas market is forecast to grow to US$ 22.2 billion by 2030, registering a compound annual growth rate (CAGR) of 8.5% during the forecast period from 2022 to 2030.

Factors Influencing the Market Growth

  • The global specialty gas market is forecast to grow significantly due to its benefits over traditional methods. It enhances yield, reduces cost, and optimizes performance, which will fuel the market growth.
  • The demand for specialty gas is increasing in electronics, manufacturing, biotechnology, academics, automotive, healthcare, and semiconductors. In addition, the global specialty gas market is forecast to grow due to the rising demand for its applications, such as plasma display panels and solar cells.
  • The increasing healthcare infrastructure is forecast to contribute to the market growth. In addition, the growing geriatric population is forecast to propel the global market growth during the forecast period. 
  • Rising environmental consciousness and growing demand for bio-based products will accelerate the market growth. Furthermore, increasing demand for specialty gas in the food, beverage, and chemical sector will contribute to the market growth during the study period. 
  • Increasing regulation associated with specialty gas production may hamper the growth of the market during the study period. 

Regional Analysis

Due to the growing healthcare sector, North America will hold dominance in the global specialty gas market. In addition, the Asia Pacific market is forecast to grow significantly during the forecast period, owing to rising demand from end-use sectors such as automotive, industrial, and healthcare. In addition, China is forecast to have a maximum contribution to the growth of the Asia-Pacific specialty gas market due to the increasing population and rising healthcare expenditure in the region. 

COVID-19 Impact Analysis

COVID-19 had a negative impact on the global specialty gas market. Most manufacturing plants were temporarily shut down due to lockdowns in many nations. Thus, it resulted in lowering demand for specialty gas. Furthermore, due to an increase in coronavirus cases, building work was halted, resulting in lower usage of welding gases such as hydrogen and argon. On the contrary, the pandemic has created new opportunities in the healthcare sector as demand for high-purity gases such as oxygen, nitrogen. The demand for specialty gas increased drastically in the healthcare sector. As a result, the market witnessed significant growth in that segment. In addition, the demand for efficient healthcare infrastructure has been increased after the pandemic. Thus, it will benefit the global specialty gas market. 

Competitors in the Market

  • Linde plc
  • Air Liquide International S.A.
  • Messer Group GmbH
  • Air Products and Chemicals, Inc.
  • Weldstar, Inc.
  • Mesa Specialty Gases & Equipment
  • Norco Inc.
  • Taiyo Nippon Sanso Corporation
  • Showa Denko K.K
  • Other Prominent Players

Market Segmentation

The global specialty gas market segmentation focuses on Type, End-Use Industry, and Region. 

By Type

  • High-purity Gases
  • Noble Gases
  • Carbon Gases
  • Halogen Gases
  • Other Types

By End-user Industry

  • Automotive
  • Electronics
  • Medical and Healthcare
  • Food and Beverage
  • Oil and Gas

By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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