Industrial And Specialty Gases Market

Industrial and Specialty Gases Market: Overview

The growing demand for specialty gases for various applications, especially in research-related aspects is expected to fuel the growth of the global industrial and specialty gases market during the forecast period of 2021-2031. The increasing utilization of gases such as oxygen, carbon dioxide, and nitrogen is also estimated to add value to the growth of the industrial and specialty gases market.

Specialty gases can be referred to as highly purified gases having excellent properties which assist in enhancing yields. They are also known as calibration gases, carrier gases, or zero gases. They help in optimizing performance across various end-user industries such as petrochemical, electronics, analytical, calibration, and others.

The report by Transparency Market Research (TMR) on the industrial and specialty gases market reveals the current scenario across the competitive landscape. The latest trends and developments are highlighted in the report. In addition, the regional insights and the industrial scenario are also included. The report has information about the impact of the COVID-19 pandemic on the industrial and specialty gases market.

Industrial and Specialty Gases Market: Competitive Insights

The industrial and specialty gases market is consolidated. A large chunk of the growth share is contributed by a handful of key players across the industrial and specialty gases market. The players indulge in intense research and development activities for increasing the efficiency and exploring new uses of the gases. Furthermore, strategic collaborations are also important for the overall growth of the industrial and specialty gases market.

Some key players into the industrial and specialty gases market are Messer Group GmbH, Air Liquide, Air Products Inc., and SHOWA DENKO K.K.

Industrial and Specialty Gases Market: Key Trends

The escalating use of industrial and specialty gases in the electronics sector is expected to invite exponential growth for the global market. The use of consumer electronics is increasing rapidly across the globe due to rising disposable income of many individuals. Furthermore, the expansion of electronic industries in areas like India and China is boosting the growth prospects of the industrial and specialty gases market to a considerable extent.

The healthcare sector is one of the largest end-users of industrial and specialty gases market. These gases are used mainly in the healthcare sector due to their excellent purity. Pharmaceutical and biotechnology sectors also utilize industrial and specialty gases on a large scale. These factors may bring considerable growth for the global market. The increasing focus on ramping up healthcare facilities across various countries and the expanding investments and funding in research-related activities in the biotechnology sector may bode well for the growth of the industrial and specialty gases market.

However, the stringent regulations imposed by numerous countries regarding environment conservation have hampered the growth of the industrial and specialty gases market. These regulations have a huge impact on the production of industrial and specialty gases. Furthermore, the rising threat of specialty gas substitutes is estimated to dent the growth prospects of the industrial and specialty gases market to a certain extent. However, efforts are being made by the players in the industrial and specialty gases market to study certain measures for decreasing the impact of these negative aspects and eventually improve the growth rate of the industrial and specialty gases market.

Industrial and Specialty Gases Market: Regional Aspects

Asia Pacific is expected to bring considerable growth for the industrial and specialty gases market during the forecast period of 2021-2031. The rising presence of key electronic manufacturers in countries like India and China will serve as a crucial growth factor for the industrial and specialty gases market in Asia Pacific.