Specialty Gas Market 2020 and Forecast 2021-2027

                                          
Report Overview: Specialty Gas Market


The global specialty gas market size was valued at USD 8.3 billion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2027. Increasing demand in the healthcare sector and growing requirement for ultra-high purity gases in manufacturing applications are anticipated to drive the market growth.


Usage of specialty gases is expected to bring about a significant development in the area of manufacturing and healthcare applications. Products made using various blending techniques are making substantial progress both regarding breakthroughs in research and development and commercialization.
Specialty gases include high purity, rare/noble gases as well as all minority gases that are used in specific applications. These gases have unique properties, which benefit many end-use industries by improving yield, optimizing performance, and lowering cost.

Some of the specialty gases are considered responsible for inducing global warming, due to which their use is progressively controlled by voluntary restrictions or legislation. Significant focus is put on lowering emissions as well as restrictions in applications where environmental friendly alternatives exist that are economically and technically practicable.

Development in automotive, healthcare, and electronics industries on account of growing demand, particularly in Asia Pacific region are speculated to present themselves as a major prospect for market growth. Welding and cutting, metal fabrication, lighting, and chemical production are some of the domineering industry applications in Asia Pacific.



Product Insights: Specialty Gas Market

The carbon gas segment is anticipated to be a leading segment in the market owing to increasing demand by various end-use industries such as manufacturing, electronics, healthcare, and chemicals as well as growing application scope for analytical purposes and instrument calibration. Increasing demand for noble gas from manufacturing and electronics industries is anticipated to propel the market growth.

Noble gases are also expected to witness huge demand owing to the increasing requirement for non-reactive chemical reactions in the manufacturing process and industrial applications such as lighting, welding, laser equipment, and diving gear. It is also used for cooling high-temperature superconductors at low pressures. Other specialty gases include silane, nitrous oxide, zero air, custom blends, and gas mixtures. Increasing demand for custom-blended mixtures by manufacturing, chemical, healthcare, food and beverage industry is anticipated to spur the market demand.

Application Insights: Specialty Gas Market

Healthcare application is anticipated to be the largest segment in the specialty gas market, accounting for 27.3% in 2019. Increased preference in the healthcare sector owing to the increased rate of applicability in medical applications is driving the market growth.
The manufacturing segment accounted for 20.3% of the global demand in 2019. The large proportion can be accredited to the large manufacturing industry and requirement of ultra-high purity and other specialty gas for specific applications.


The electronics segment follows the manufacturing industry and is responsible for a significant demand for different specialty gases. Increasing demand in manufacturing semiconductor devices, flat panel displays, and use as cleaning gas for Plasma Enhanced Chemical Vapor Deposition (PECVD) for high-tech thin films is expected to drive the market growth.

Increasing demand for photovoltaic products and flat panel displays has been a primary driver over the past few years. With increased production and applications, manufacturing and process industries are expected to maintain their dominance over the forecast period 2021-2027.

Regional Insights: Specialty Gas Market

Asia Pacific is the largest regional market owing to the presence of numerous end-use industries such as healthcare, electronics, manufacturing, and pharmaceutical in the region. Massive investments in developing custom blending techniques and adoption of new technology for production process, equipment, and packaging is anticipated to boost regional growth.

Government assistance to strengthen the manufacturing and electronics industry, such as the provision of subsidies, trade promotion, supportive policies, and increasing foreign investments, are expected to expand the product demand over the forecast period. Belt and Road initiative in China and Make in India initiative in India are expected to generate massive opportunities and create a supportive environment for manufacturing industries in the coming years.

Product demand in Europe has been positively influenced by the stabilized industry growth, increasing rate of facility establishment, technological advancement in packaging, high disposable income’, and increased standard of living. Supportive government investments for specialty gas production are projected to foster market growth.

North America is one of the significant markets owing to the large production of specialty gas in this region. Massive investments commenced in developing blending techniques and technology for the production process in the U.S. and Canada are anticipated to surge the demand for the products.

Key Companies & Market Share Insights: Specialty Gas Market

Kay players in the market are investing in research and development, while actively contributing to the tactical initiatives for new product development. Capacity growth and new product launches are predominant in the industry. The market trend also signifies notable expansion and acquisitions activities by the key companies. In August 2019, Air Products and Chemicals, Inc. acquired General Electric Company’s gasification business unit. The acquisition is estimated to allow the company to expand its product offerings, strengthen its position, and build, own, and operate gasification projects across the globe. Some of the prominent players in the specialty gas market include:

Key companies Profiled: Specialty Gas Market Report

 	
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.

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global specialty gas market report on the basis of product, application, and region:

Product Outlook (Revenue, USD Million, 2016 - 2027)

 	
Ultra-high Purity
 	
Noble
 	
Carbon
 	
Halogen
 	
Other Specialty

Application Outlook (Revenue, USD Million, 2016 - 2027)

 	
Manufacturing
 	
Electronics
 	
Healthcare
 	
Institutional
 	
Other