Market Overview
The Global Specialty Gas Market is estimated to hit a value of
USD 13,732 million in 2023, and it is projected to exhibit a
CAGR (compounded annual growth rate) of 8.4% from 2023 to 2032 (forecast period).
Specialty gases, featured by their high purity, hold vital significance across several sectors including environmental management,
healthcare, petrochemicals,
pharmaceuticals, semiconductors, & chemicals. These gases find wide application in industrial processes, serving as both analytical lab gases & intermediates. The prominent types of specialty gases include carbon gases, noble gases, halogen gases, & high-purity gases. These gases can exist either in pure forms or gas mixtures, with concentrations starting from percentages to parts per billion or even parts per trillion. Their usage extends to analytical techniques such as FTIR (Fourier Transform Infrared) & NDIR (Non-Dispersive Infrared), as well as gas & liquid chromatography. Moreover, these gases play a significant role in the domain of electronics, contributing to the production of parts such as silicon wafers, integrated circuits, compound semiconductors, & flat panel display products.
Market Dynamic
Specialty gas is extensively utilized in the production of semiconductor chips, with nitrogen holding a significant role in the manufacturing of semiconductors. Nitrogen serves multifunctional roles, such as purging vacuum pumps in abatement systems & acting as an important process gas. The Global Specialty Gas Market is poised for growth driven by factors including the thriving expansion of end-user sectors & the rising demand for plasma display panels & photovoltaic products.
Anticipated to gain prominence in the sector of healthcare, specialty gas is finding increasing application because of the growing adoption & acceptance of high-purity & noble gases in several
medical contexts. These include reanimation processes, anesthesia, mechanical ventilation, & MRI (Magnetic Resonance Imaging). Specialty gas mixtures & medical gases play indispensable roles in pathology, patient care, medical processes, & research, being provided via hospital pipelines or portable cylinders.
However, the growth of the market might face several challenges because of the stringent regulations & policies, governing the production & quality control of specialty gas, as well as the presence of available alternatives. However, a contrasting prospect arises in the form of eco-friendly products & technologies, as well as the potential opportunities showcased by emerging markets, which are anticipated to contribute to the expansion of the Specialty Gas Market.
Research Scope and Analysis
By Type
Under the segmentation, by Type, the Global Specialty Gas Market is categorized into Carbon Gases, Noble Gases, Halogen, and Ultra-high Purity Gases. The Carbon Gases sub-segment dominates the market, attaining a maximum share in 2023. Carbon dioxide & CO, because of their wide range of applicability in numerous industrial contexts, are observing rising demand. Within the healthcare domain, carbon gases are widely employed in major devices such as NMR (nuclear magnetic resonance) imaging, MRI (magnetic resonance imaging), & ophthalmology.
The burgeoning demand from several sectors such as electronics, healthcare, manufacturing, & chemicals, along with the expanding scope of applications for analytical purposes & instrument calibration, is driving this trend. Moreover, the growing requirement for noble gases in the manufacturing & electronics sectors is poised to act as a catalyst for this industry’s growth.
By Application
Categorized by application, the Global Specialty Gas market is segmented into healthcare, electronics, institutions, manufacturing, & others. Remarkably, the segment of healthcare holds the largest revenue share in 2023 and is expected to maintain its dominance throughout the forecast period, driven by increased expenditure on the healthcare domain globally & the increased adoption & acceptance of advanced medical technologies.
The segment of electronics is projected to grow at a significant CAGR, propelled by the utilization of specialty gases such as nitrogen trifluoride & tungsten hexafluoride in producing electronic components, like LED panels, semiconductors, & solar panels, along with the anticipated surge in demand from advanced technologies like wearables and connected systems
The Specialty Gas Market Report is segmented on the basis of the following:
By Type
- Noble Gases
- Carbon Gases
- Halogen Gases
- Ultra-high Purity Gases
- Others
By Application
- Healthcare
- Manufacturing
- Electronics
- Institutions
- Others
Regional Analysis
The Asia Pacific region holds the largest revenue share at 39.1% in 2023, and it is foreseen to exhibit the most rapid CAGR (Compound Annual Growth Rate) for the forecast period of 2023 to 2032. This region harbors key electronic manufacturing hubs such as Japan, China, & India. Additionally, local governments are actively involved in the expansion of diverse end-use sectors including oil & gas, consumer electronics, manufacturing, & healthcare through incentives such as PLI (Production-Linked Incentives), subsidies, & favorable FDI (Foreign Direct Investment) norms. These combined factors collectively contribute to the rapid advancement & predominance of the specialty gas sector in the Asia Pacific area.
Europe is all set to experience the second-highest CAGR in the forthcoming years. This region is directing its efforts toward enhancing production capabilities via capacity building, to cater to rising demands from several end-use sectors. Furthermore, heightened investments in the healthcare & pharmaceutical domains are projected to amplify product requisites in the European landscape.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The landscape of the market is marked by a strong competitive nature, encompassing a diverse array of both global and regional participants. Foremost enterprises on a global scale are actively engaging in strategies like partnerships, collaborations, acquisitions, mergers, and agreements to effectively navigate the rigorous competition and enhance their foothold in the market. For instance, Meritus Gas Partners ("Meritus") has disclosed the latest collaboration with Applied Gas, Inc. ("Applied Gas"), a prominent autonomous producer and supplier of specialty gases headquartered in Danbury, Texas. Applied Gas holds a notable position as a provider of tailored specialty gas blends, with a specific focus on intricate hydrocarbon gas mixtures. These mixtures are particularly employed for calibrating analytical devices within petrochemical facilities engaged in the production of olefins like ethylene, propylene, and related derivatives.
Some of the prominent players in the Global Market are:
- Messer Group GmbH
- Air Liquide S.A.
- Air Products Inc.
- Showa Denko K.K
- Taiyo Nippon Sanso Corporation
- Norco Inc.
- Weldstar, Inc.
- MESA International Technologies, Inc.
- Airgas, Inc.
- Linde plc
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Specialty Gas Market:
The Global Specialty Gas sector faced the repercussions of both the COVID-19 pandemic and the subsequent economic downturn. Disruptions in supply chains due to lockdowns and related constraints resulted in scarcities of essential materials and transport hindrances, thereby impacting the production of specialty gases. Industries such as electronics and automotive, which heavily rely on these gases, witnessed decelerations, leading to a decline in demand. Simultaneously, the closure of laboratories and diminished research activities contributed to the reduced consumption of specialty gases. Despite a noticeable rise in demand for medical gases during the pandemic, this surge did not offset the overall downturn in demand.
As the economy gradually recuperates and various sectors regain momentum, the specialty gas market is poised for a resurgence. Industries with substantial reliance on these gases are anticipated to rebound more swiftly. Moreover, there is a potential surge in demand for specialty gases in clean energy applications as sustainability gains precedence. Looking ahead, the market is expected to undergo transformation driven by innovation; however, the trajectory will be influenced by factors such as pandemic trajectories, economic fluctuations, and technological advancements.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 13,732 Mn |
| Forecast Value (2032) |
USD 28,405.2 Mn |
| CAGR (2023-2032) |
8.1% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Type (Noble Gases, Carbon Gases, Halogen Gases,
Ultra-high Purity Gases, and Others), and By
Application (Healthcare, Manufacturing, Electronics,
Institutions, and Others). |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Messer Group GmbH, Air Liquide S.A., Air Products
Inc., Showa Denko K.K, Taiyo Nippon Sanso
Corporation, Norco Inc., Weldstar, Inc., MESA
International Technologies, Inc., Airgas, Inc, Linde plc,
and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Specialty Gas Market is estimated to hit a value of USD 13,732 million in 2023.
The Global Specialty Gas Market is expected to grow with a CAGR of 8.4% from 2023 to 2032.
The Asia Pacific region holds the largest revenue share at 39.1% in 2023.
Some of the prominent players in the Global Specialty Gas Market include Messer Group GmbH, Air
Liquide S.A., Air Products Inc., Showa Denko K.K, Taiyo Nippon Sanso Corporation, Norco Inc., Weldstar,
Inc., MESA International Technologies, Inc., Airgas, Inc., etc.