With 7.3% CAGR, Global Specialty Gas Market Size/Share Projected to Touch USD 24.14 Billion By 2032: Exclusive Analysis by Polaris Market Research

NEW YORK, July 25, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Specialty Gas Market Share, Size, Trends, Industry Analysis Report, By Product (High purity, Halogen, Nobel, Carbon, and Others); By Application; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global specialty gas market size/share was valued at USD 11.96 Billion in 2022 and is expected to touch USD 24.14 Billion By 2032, growing at a CAGR of 7.3% during the forecast period."

What are Specialty Gases? How Big is Specialty Gas Market Size & Share?

• Report Overview

Specialty gases are ultra-high purity gases specifically formulated for instrument calibration, process control, and other industrial tasks. Specialty gases can either be pure gases or may be gas mixtures containing components at concentrations extending up to part per billion or even part per trillion. The exact composition of these gases depends on the application for which they're being used.

Specialty gases are often used in analytical methods like non-dispersive infrared (NDIR), and Fourier transform infrared (FTIR). Also, they're used to separate components of a mixture in liquid and gas chromatography. Specialty gases are often used with specialty equipment to ensure their quality isn't compromised through contact with sub-standard parts. The specialty gas market is experiencing substantial growth due to the growing adoption of these gases in several manufacturing, electronics, and healthcare applications.

Request Sample Copy of Specialty Gas Market Research Report @ https://polarismarketresearch.com/industry-analysis/specialty-gas-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Covered Are:

• Air Liquide
• Coregas
• Air Products and Chemicals Inc.
• Iwatani Corporation of America
• MESA Specialty Gases & Equipment
• Linde plc
• Messer Group GmbH
• Norco Inc.
• YUEYANG KAIMEITE ELECTRONIC AND SPECLALTY RARE GASES CO.
• Mitsui Chemicals Inc.
• SHOWA DENKO K.K.
• ILMO Products Company
• Taiyo Nippon Sanso Corporation
• Weldstar Inc

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Specialty Gas Market: Prominent Growth Driving Factors

• Rising demand for electronic devices: With a surge in the need for electronic devices such as smartphones, tablets, and portable devices, the demand for specialty gases in semiconductor and display manufacturing processes has increased. The growing usage of electronic devices creates a favorable environment for the specialty gas market growth.
• Increasing need for high-performance electronic components: Specialty gases are crucial in several semiconductor fabrication processes, including etching, deposition, and cleaning. These gases are used to create controlled environments needed for making top-class microchips and electronic components. A surge in the demand for high-performance electronic devices and components drives the market's growth.
• The growing trend of miniaturization: The growing trend of miniaturization, which involves manufacturing ever smaller products and devices, and the development of high-end electronic components, require the use of sophisticated manufacturing methods. Specialty gases have applications in several precision manufacturing techniques like lithography to get the necessary quality and performance standards.
• Adoption of advanced technologies: Advanced technologies like Artificial Intelligence (AI), 5G, and the Internet of Things (IoT) require the usage of highly advanced semiconductor displays and devices. The increasing adoption of these novel technologies is expected to boost specialty gas market sales in the upcoming years.

Top Trends Influencing the Specialty Gas Market

• Booming healthcare sector: Specialty gases are important in several medical applications, including therapies, diagnostics, and laboratory research. The booming healthcare sector, advancements in clinical treatments, and the need for accurate gas mixtures for medical devices contribute to the specialty gas market demand.
• Application of specialty gases in diverse sectors: Specialty gases have a wide range of applications in various sectors, including consumer electronics, analytical research, and oil & gas. These applications often require the usage of specific gas formulations, resulting in sustained demand for specialty gases.

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Segmental Analysis

• The carbon gases segment dominated the market in 2022

Based on product, the carbon gases segment accounted for the largest revenue share of the specialty gas market in 2022. And the segment is anticipated to continue its dominance over the forecast period. Carbon gases are widely used in several medical equipment and procedures, including Magnetic Resonance Imaging (MRI) and ophthalmology. Also, the requirement for these gases is high in other sectors like healthcare, manufacturing, and electronics. The increasing application scope of carbon gases in instrument calibration and other industrial processes boosts the demand for these gases.

• The healthcare segment registered the largest revenue share in 2022

By application, the healthcare segment held the highest revenue share in the specialty gas market in 2022. The healthcare industry requires the usage of several specialty gases, including medical air, medical helium, and medical nitrous oxide. These gases are needed for several medical procedures and applications. The rapid growth of the healthcare industry and a significant rise in healthcare expenditure by major economies worldwide are anticipated to be significant drivers for the segment's growth.

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Specialty Gas Market: Report Scope & Segmentations

Geographic Overview

• The Asia Pacific region is anticipated to witness rapid growth over the forecast period

The electronics sector in the Asia Pacific region is experiencing the highest growth rates in consumer electronics due to rising disposable incomes and growing demand for electronic products. The electronic manufacturing units in China experienced a huge year-on-year profit increase of 38.91%, contributing to the demand for specialty gas.

Additionally, Japan's electronics industry, which includes components, devices, and consumer equipment, experienced a production value surge of around 10% in 2021, according to the Japan Electronics and Information Technology Industries Association (JEITIA). This surge in Japan's electronics sector further supports the growth of the specialty gas market in Asia Pacific region.

Browse the Detail Report "Specialty Gas Market Share, Size, Trends, Industry Analysis Report, By Product (High purity, Halogen, Nobel, Carbon, and Others); By Application; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://polarismarketresearch.com/industry-analysis/specialty-gas-market    

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Recent Developments

• In February 2023, Germany-based chemical company Linde announced the development of an on-site complex in Beaumont, Texas. The new plant will supply clean nitrogen and hydrogen to OCI's new blue ammonia facility.
• In February 2023, American chemicals company Air Products unveiled its PRISM InertPro Nitrogen Membrane System. The new system is based on an innovative, flexible modular platform promoting efficient nitrogen applications.

The Report Answers Questions Such As

• What is the current specialty gas market size?
• At what CAGR is the market expected to grow over the forecast period?
• Who are the key players in the market?
• Which region has the largest specialty gas market share?
• Which segment is leading the specialty gas industry?
• Which product type of the specialty gas industry is in high demand?
• What are the major trends that are positively impacting the market growth?

Polaris Market Research has segmented the specialty gas market report based on product, application, and region:

By Product Outlook

• High purity
• Halogen
• Nobel
• Carbon
• Others

By Application Outlook

• Manufacturing
• Institutional
• Electronics
• Healthcare
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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