Rising demand from developing economies coupled with expanding metal & mining industry to fuel global specialty gases market through the forecast period.
According to TechSci Research report “Global Specialty Gases Market By Application, By Type, By Region, Competition Forecast and Opportunities, 2012-2026”, the global specialty gases market is projected to cross $ 14 billion by 2026, predominantly on account of surging demand for specialty gases from developing economies across a wide array of applications. Specialty gases are specifically produced for specialized operations in various end-user applications such as electronics and semiconductors, analytical and calibration, refrigeration, medical and healthcare, manufacturing and others. They improve the production process by making it more efficient, in addition to aiding in improving product quality.
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On the basis of type, global specialty gases market is broadly categorized into pure gases and gas mixtures. Pure gases dominated the global specialty market in 2016, and the segment is projected to dominate during the forecast period as well on account of vast usage of specialty gases across various application segments like electronics & semiconductors, analytical & calibration, etc. In application segments, electronics & semiconductors grabbed the largest share during 2012 - 2016, owing to growing use of specialty gases during manufacturing processes of IT hardware, consumer electronics and office automation products. Asia-Pacific is the market leader and is likely to maintain its dominance during the forecast period as well, with high demand for specialty gases from countries like China, Japan and South Korea.
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In 2016, Air Products & Chemicals Inc. was the market leader in the global speciality gases market, followed by Praxair Inc., and Linde Group. “Global specialty gases market is expanding due to continuing growth in various application segments like electronics & semiconductor and analytical & calibration sectors. These applications cumulatively constitute more than 55% of specialty gases consumption. Further, proliferation in metal & mining industry has helped the specialty gases market to grow over the last few years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Specialty Gases Market By Application, By Type, By Region, Competition Forecast and Opportunities, 2012-2026” has evaluated the global specialty gases market and has provided the statistics and information on market structure, industry behaviour and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes emerging trends and growth opportunities in the global specialty gases market.
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