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Global Specialty Gas Market Size, Trends, and Analysis - Forecasts to 2026 By Type (Carbon Gases, Halogen Gases, High Purity Gases, Noble Gases), By Type of Application (Academics, Electronics, Food & Beverage, Hydrocarbon Processing, Lifesciences, Manufacturing), By Region (North America, Europe, Asia Pacific, MEA, and CSA). End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Specialty Gases are formulated after several lab analysis by eradicating the unwanted/undesirable characteristics from the natural gas. The global specialty gas market will grow upward trend and register a peak CAGR rate, due to the growing demand from different end-use industries such as analytical, healthcare, pharmaceutical, and electronic among others. They are cost-efficient as well as enhance the performance in particular industrial applications. The gases find their usage in different applications such as laser, lighting, and calibration instruments, which is also a reason behind constant growth in this market. With recent mixing and blending techniques of various gases, more considerable progress can be witnessed in industries and research. However, the specialty gases are also predicted to be the cause behind global warming and thus, their usage has been restricted by various governments globally.
Based on the type, the market is segmented into carbon gases, noble gases, halogen gases, and high purity gases. The carbon gases segment is predicted to be the prominent segment and holds the dominant position in this market. The demand from the end-user industries like manufacturing, health care, and electronics have been increasing constantly. However, it has also projected that the demand for noble gases from the manufacturing as well as electronics industries will be growing at the fastest rate over the forecast period.
Based on the type of application, the market is fragmented into academics, electronics, food & beverage, hydrocarbon processing, life sciences, and manufacturing. Out of all these segments, the life sciences segment is predicted to hold the largest market share, due to the growing demand from the healthcare sector and increasing research activities. Specialty gases are constantly used in the healthcare sector for different medical techniques.
Asia-Pacific region is playing a dominant role in this market compared to others. The increasing number of end-user companies like healthcare and lifesciences, manufacturing, electronics, etc are driving the growth in this region. Huge investments in the mixing and blending techniques and incorporation of advanced technology for better usage of these specialty gases is also one of the reasons behind the growth of this market in the APAC region. Also, the increasing support and interventions of governmental organizations in the form of incentives, subsidies, foreign direct investments, and new policies are boosting the demand within the region.
A-Gas Group, Weldstar Inc, Air Water Inc., SpecGas Inc, Air Liquide S.A., Showa Denko K. K., Air Products and Chemical Inc., Nippon Sanso Holdings, 3M Company, Norco Inc, Cee Kay, Messer Group GmbH, ILMO Products Company, MESA Specialty Gases & Equipment, Coregas Pty Ltd., Kanto Denka Kogyo Co. Ltd, Iwatani Corporation, and Linde Group. among others, are the major vendors competing in the Global Specialty Gas market.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2018, Air Products and Chemical Inc signed a new agreement with Beijing Sinoscience Fullcryo Technology Co., Ltd. (Fullcryo) for equipment supply and cooperation.
In December 2018, Air Products and Chemical Inc signed a new agreement with N.V. Nederlandse Gasunie for the supply of industrial gas equipment.
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The Global Specialty Gas Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Specialty Gas Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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