According to import and export details of specialty gases, these gases worth $12,239,259 were imported throughout the world in 2018. The market demand of specialty gases is high owing to its wide application and diversified end user industry. It has a wide end user base including analytical and calibration industry where these gases are chemically purified to have extremely low levels of impurities. This segment is quite important and is expected to grow with a compound annual growth rate (CAGR) of 6.77% during the forecast period of 2019-2025. In the upcoming years, specialty gases market will flourish on its demand obtained from the pharmaceutical industry. In the year 2018, the global specialty gases market valued at $8,477 million and during the forecast period of 2019-2025, the opportunities are evaluated to grow with a compound annual growth rate (CAGR) of 5.40%.
Specialty Gas Market Outlook:
Specialty gases are a category of industrial gases that are purified to 99.99999%. These gases are divided into types including high purity gases (Nitrogen, Oxygen,) Noble gases (Helium, Argon, Xenon, and Krypton,) Carbon Gases (Carbon Dioxide, Carbon Monoxide, Methane,) and Halogen gases (Fluorine, Chlorine.) These gases are only used for specific industrial gases which is why they are termed as specialty gases. A more common category of these gases includes specialty pure gases that are used for support in some instruments such as detectors, chromatographs, spectrometers, and others. North America houses a lot of key market players of specialty gases including The Linde Group, Air Products and Chemicals, Airgas, Praxair, and others. This is the reason why it led the specialty gases market geographically in the year 2018. It had a noticeable regional share of 38%.
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Specialty Gas Market Growth Drivers:
Ø High Utilization In Industries
Specialty gases are prominently used in industries such as research and development, analytics, medicines, and environment production. In 2014, The Linde Group produced a series of specialty gas cylinders called Linde’s ECOCYL. These were readily utilized by Danish Aerospace Company for using in the International Space Station to calibrate DAC’s Portable Pulmonary Junctional System which were vital in investigation of respiratory functions of astronauts. Rare and elusive usage of this stature is driving the global specialty gases market.
Specialty Gas Market Challenges:
A primary challenge faced by the specialty gases market is safe transportation of cylinders in order to prevent loss of product. Key market players are trying to combat this challenge by strengthening of specialty gases packaging in order to make sure that loss of these highly purified gases does not occur in the supply chain.
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pecialty Gas Market Key Players Perspective:
Key market players operating in the specialty gas market are Air Products & Chemical Inc., Praxair Inc., Linde Group, Air Liquide SA, Taiyo Nippon Sanso Corporation, Showa Denko K.K., Messer Group GmbH, Iwatani Corporation, Air Water Inc., Coregas Pty Ltd.
Air Products and Chemicals is an American multination corporation that primarily focuses on producing industrial gases and other chemicals. They have contributed a major share in the production of specialty gases and exportation to several industries including electronics, petrochemical, pharmaceutical, analytics, and others.
Specialty Gas Market Trends:
Since specialty gases are in high demand in the industries of photovoltaics and automotive, several mergers and acquisitions are taking place.
Ø Coregas Ltd 2018 Merger With Hyundai And Toyota
Coregas Ltd, which produces hydrogen at Port Kembla found Hydrogen Mobility Australia (HMA) to provide the automotive industry with highly purified hydrogen. The automotive industry is now experimenting with hydrogen in vehicles as is it leads to reduction in air pollution and conserves our natural resources. HMA signed an MoU with Toyota and Hyundai to supply hydrogen to these companies which will help them in releasing Fuel Cell Electric Vehicles (FCEV) in the market.
Ø Merger Between Praxair And The Linde Group
In October 2018, Praxair, Inc and The Linde Group, both key market players in the global specialty gases market, completed a $90 billion merger in accordance with the approval of US Federal Trade Commission. The merger of these two giants will disrupt the market in the upcoming years as together it has made them the largest producer of specialty gases.
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Specialty Gas Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Specialty Gas Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the Specialty Gas Market, and their specific applications in different areas.
Specialty Gas Market Report: Industry Coverage
The specialty gas market can be segmented on the basis of type, application, and industry. Based on type, the market can be divided into high purity gases, noble gases, carbon gases, and halogen gases. On the basis of application, the market can be bifurcated into photovoltaic cells, plasma display panels, laser systems and equipment, and others. And based on industry, the market can be divided into electronics, petrochemical, manufacturing, healthcare, and automotive industry.
The Specialty Gas Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia.
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