The High Purity Methane Gas Global Market Report 2023 by The Business Research Company, provides high purity methane gas market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s High Purity Methane Gas Global Market Report 2023, the market size is expected to grow from $6.91 billion in 2022 to $7.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The high purity methane gas market size is expected to reach $9.18 billion in 2027 at a CAGR of 5.6%.
Growing demand for electronic products is driving the growth of the high-purity methane gas market. Electronic products are components that control the passage of electrical currents to process systems. These devices contain an electronic circuit that can generate or emit a physical radiation field while in operation. Consumer electronics has expanded and intersected with numerous businesses and sectors due to the development of new technology, including software, app development, robots, artificial intelligence, thus driving global consumer electronics growth. Such a surge in demand for consumer electronics devices has increased the need for the high-purity methane gas to produce materials for cells and other electrical devices
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The high purity methane gas market is segmented:
1) By Type: Chemical Synthesis, Heat Detection, Hydrogen Fuel, Other Types
2) By Application: Medical, Automotive, Defence, Electronics, Other Applications
3) By Distribution: On-site, Bulk (Liquid Gas Transport), Cylinder (Merchant)
Technological advancements are the key trend gaining popularity in the high-purity methane gas market. The market is witnessing the implementation of an advanced methane gas leak detection system. Major companies operating in the high-purity liquid gas market are focused on research and development for technological advancements tools and technology to strengthen their market position. For instance, in August 2022, NOVATEK-Yurkharovneftegas, a Russia-based gas company, announced an initiative to monitor methane leaks using unmanned aerial vehicles (“UAVs”). The project is part of the comprehensive environmental and climate change targets program, including constructing a multi-level leak detection system. It allows for more precise and faster observations compared to other monitoring methods.
The high purity methane gas market report table of contents includes:
1. Executive Summary
2. High Purity Methane Gas Market Characteristics
3. High Purity Methane Gas Market Trends And Strategies
4. High Purity Methane Gas Market – Macro Economic Scenario
5. High Purity Methane Gas Market Size And Growth
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26. Africa High Purity Methane Gas Market
27. High Purity Methane Gas Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The High Purity Methane Gas Market
29. High Purity Methane Gas Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Air Liquide S.A
- Axcel Gases
- Bhuruka Gases Limited
- Chemix Specialty Gases and Equipment
- Chengdu Taiyu Industrial Gases Co Ltd
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