Austin, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that Specialty Gas Market is projected to reach USD 25.21 Billion by 2023, growing at a CAGR of 8.62% during the forecast period of 2024-2032.
The ultra-pure gases are highly demanded in the electronics and semiconductor industry, and healthcare applications are fueling the growth of the market. Specialty gases have importance in various, e.g., semiconductor processing, medical treatments, and industrial manufacturing applications.
The usage of gas in end-use industries such as healthcare and electronics environments adopting specialty gases can be expected to increase robust performance in advanced systems and devices. This is further supported by the latest industry reviews that indicate the increasing adoption of specialty gases like nitrogen, helium, and fluorine in semiconductor manufacturing where purity and quality standards are getting more stringent.
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Key Players :
Air Liquide (ALPHAGAZ™ Specialty Gases)
Norco Inc. (AIRZERO)
Linde plc (HiQ Specialty Gases)
Air Products and Chemicals, Inc. (Experis Specialty Gases)
Praxair, Inc. (StarFlame Cutting Gases)
Matheson Tri-Gas, Inc. (SEMICORE Semiconductor Gases)
Messer Group GmbH (Messer SpecPure Gases)
Iwatani Corporation (Specialty Helium Gas)
MESA Specialty Gases & Equipment
Taiyo Nippon Sanso Corporation (Nippon Sanso PurityPlus® Gases)
Showa Denko K.K. (Specialty Fluorinated Gases)
Advanced Specialty Gases, Inc. (Ultra-High Purity Nitrogen)
Electronic Fluorocarbons LLC (EFC’s Ultra High-Purity Gases)
Yingde Gases Group (High-Purity Oxygen)
Hyosung Corporation (Specialty Hydrogen Gas)
SICGIL India Limited (Specialty Carbon Dioxide)
Weldstar
Iceblick Ltd. (Neon and Krypton Mixtures)
Matheson Gas (Ultra-Pure Argon)
Coregas Pty Ltd (Coregas LaserGAS)
The Linde Group (RENEW Specialty Gases)
Praxair Technology, Inc. (Praxair Grab 'n Go Oxygen)
Central Welding Supply (Ultra-High Purity Acetylene)
Additionally, the World Semiconductor Industry Association likewise reported a 15% observable ascend in all-inclusive semiconductor delivery in 2023 adding up to the usage of various gases. Moreover, the healthcare industry currently prefers to use gases such as oxygen and nitrous oxide in essential treatments and to calibrate equipment, which also contributes toward market growth.
What are the Growth Factors of the Specialty Gas Market?
Specialty gases play a huge role in enhancing the efficiency and reliability of electronic devices, medical equipment, and industrial processes. Recently, the semiconductor sector which is a key beneficiary of the 5G infrastructure and artificial intelligence (AI) growth plans has surged sharply helping to propel the overall electronics industry higher. With the increase in the manufacturing of semiconductors, there is a significant demand for high-purity gases necessary in processes such as etching cleaning, and doping.
Further, industries across the spectrum are moving towards a greener future and looking at transitioning to low global warming potential (GWP) refrigerants as well as green gases to adhere to stricter environmental regulations. Specialty gases, which the U.S. Environmental Protection Agency (EPA) identified for helping reduce greenhouse gas emissions in refrigeration and air conditioning within its 2023 report on hydrofluorocarbon refrigerants, are expected to drive the market further.
Which Segment of the Specialty Gas Market is Estimated to Dominate in Product?
In 2023, carbon gas held the highest market share, around 31.6%. Carbon gases are used in medical equipment like nuclear magnetic resonance imaging, magnetic resonance imaging, ophthalmology, etc. It is hugely used in electronics, manufacturing, health-care-related sectors, and other gas chemicals as well due to the large number of carbon gases in it. The increasing utilization of carbon gases in the calibration of instruments and its widening applications is driving the demand for carbon gas.
Key Segments:
By Product
- Noble Gases
- Ultra-high Purity Gases
- Carbon Gases
- Halogen Gases
- Others
By Application
- Manufacturing
- Healthcare
- Electronics
- Institutions
- Others
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Which Segment of the Specialty Gas Market is Estimated to be the Dominant in Application?
The electronics sector is the largest segment in the specialty gas market, driven by the increasing integration of electronic systems in smart devices, automotive electronics, and industrial automation. According to the International Data Corporation (IDC), the global demand for smart devices increased by 12% in 2023, highlighting the growing need for specialty gases in manufacturing processes.
Specialty gases like fluorine and nitrogen are vital in semiconductor manufacturing, and the expansion of 5G infrastructure and autonomous driving technologies is further accelerating the demand for these gases. The automotive electronics segment is also witnessing rapid growth due to the rise of electric vehicles (EVs) and advanced driver-assistance systems (ADAS).
Which Region Led the Specialty Gas Market in 2023?
The Asia-Pacific region held the largest market share, approximately 40.5%, in 2023, In 2023, This region has become heavily industrialized and is supporting the growth in electronic manufacturing and automotive industries ranking first. While these countries move ahead on the back of large-scale production of semiconductors, consumer electronics, and electric vehicles, it is China alongside Japan and South Korea that dominates the demand for specialty gases across the Asia Pacific.
The largest electronics manufacturing hub China registered a 16% rise in semiconductor production this year per the NBS (National Bureau of Statistics China). These efforts, coupled with government-backed programs like "Made in China 2025"a roadmap to increase the output of cutting-edge goods such as 5G gear and AI systems are driving volume growth in specialty gases.
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Recent Developments
- In 2023, Air Liquide launched its ALPHAGAZ™ 2 range, a line of ultra-pure gases designed for use in semiconductor manufacturing, offering enhanced reliability and precision.
- Linde plc announced in 2022 the expansion of its specialty gas production facility in South Korea to meet the rising demand from the electronics industry.
- Praxair introduced a new range of Experis® gases in 2023, designed specifically for use in mission-critical healthcare applications, enhancing safety and performance in medical diagnostics.
Key Takeaways:
- The specialty gas market is experiencing significant growth, driven by rising demand in electronics, healthcare, and industrial sectors.
- The Asia-Pacific region is expected to maintain its leadership position, supported by the expansion of its manufacturing base in electronics and automotive industries.
- Technological advancements in ultra-pure gases are improving the reliability and performance of critical systems in semiconductor manufacturing and medical applications.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Specialty Gas Market Segmentation, by Product
8. Specialty Gas Market Segmentation, by Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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