The specialty gases global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Specialty Gases Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The specialty gases market size has grown strongly in recent years. It will grow from $11.74 billion in 2023 to $12.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to the growing need for high-purity gases, the growing healthcare industry, the growing need for gas-phase engraving, the growing need in the chemical industry, and the rising demand in electronics manufacturing.
The specialty gases market size is expected to see strong growth in the next few years. It will grow to $17.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to rising demand in the pharmaceuticals industry, the increasing need for semiconductors and light-emitting diodes (LEDs), increasing focus on safety and quality, rapid industrialization and economic development, and rising demand in the automotive industry. Major trends in the forecast period include technological advancements, adoption of sustainable manufacturing processes, innovations in purification technologies, advances in blending technologies, and integration of the internet of things (IoT) and smart monitoring.
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Scope Of Specialty Gases Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Specialty Gases Market Overview
Market Drivers –
The increasing need for semiconductors is expected to propel the growth of the specialty gases market going forward. Semiconductors are materials that have electrical conductivity between that of a conductor (such as copper or aluminum) and an insulator (rubber or glass). The increasing need for semiconductors is due to the growing demand for more powerful and efficient electronic devices and to support innovations in connectivity, automation, and data processing. Specialty gases significantly enhance yield, quality, and efficiency in semiconductor fabrication, supporting the industry’s stringent precision, purity, and reliability requirements. For instance, in December 2023, according to the Semiconductor Industry Association, a US-based organization, global semiconductor industry sales totaled $526.8 billion in 2023 are projected to increase by 13.1% in the second quarter of 2024. Therefore, the increasing need for semiconductors is driving the growth of the specialty gases market.
Market Trends –
Major companies operating in the specialty gases market are developing advanced specialty gas production modules to enhance efficiency, ensure precise gas mixture formulations, and meet increasingly stringent quality and purity standards required by diverse industries. The new modules provide comprehensive visibility into production progress and real-time insights to enable proactive management for enhanced efficiency and safety. For instance, in May 2024, Computers Unlimited, a US-based software company, launched an advanced specialty gas production module for its TIMS software platform. The new module is designed to revolutionize the production and management of made-to-order specialty gases. The new module is a valuable tool for managing the production of custom gas mixtures in the industrial gas industry.
The specialty gases market covered in this report is segmented –
1) By Type: High-Purity Gases, Noble Gases, Carbon Gases, Halogen Gases, Other Types
2) By Element: Argon, Nitrogen, Helium, Carbon Monoxide, Methane, Oxygen, Hydrogen, Other Elements
3) By Packaging Type: Packaged, Bulk And On-site
4) By Sales Type: Captive, Merchant
5) By End-User Industry: Automotive, Electronics, Medical And Healthcare, Food And Beverage, Oil And Gas, Other End-User Industries
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Regional Insights –
Asia-Pacific was the largest region in the specialty gases market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty gases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the specialty gases market are Mitsui Chemicals Inc., Linde plc, Air Liquide S.A., DuPont de Nemours Inc., Air Products and Chemicals Inc., Showa Denko K.K., Airgas, Messer Group GmbH, Norco Inc., Kanto Denka Kogyo Co. Ltd., Praxair, Purity Cylinder Gases Inc., Welsco Inc., ILMO Products Company, Weldstar, American Gas Products, Coregas, MESA International Technologies Inc., Nova Gas Technologies Inc., Concorde Specialty Gases Inc., Electronic Fluorocarbons LLC, Advanced Specialty Gases Inc., Iwatani Corporation
Table of Contents
- Executive Summary
- Specialty Gases Market Characteristics
- Specialty Gases Market Trends And Strategies
- Specialty Gases Market – Macro Economic Scenario
- Global Specialty Gases Market Size and Growth
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- Key Mergers And Acquisitions In The Specialty Gases Market
- Specialty Gases Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Specialty Gases Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Specialty Gases Market, Segmentation By Element, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Specialty Gases Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 76: Mitsui Chemicals Inc. Financial Performance
Table 77: Linde plc Financial Performance
Table 78: Air Liquide S.A. Financial Performance
Table 79: DuPont de Nemours Inc. Financial Performance
Table 80: Air Products and Chemicals Inc. Financial Performance
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