Report Ocean recently released a research report on the Specialty Gas Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
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.
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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.
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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
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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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Table of Content
Chapter 1: Global Specialty Gas Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Specialty Gas market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Specialty Gas Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Specialty Gas market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Specialty Gas market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Specialty Gas market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Specialty Gas market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Specialty Gas business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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