High Purity Methane Gas Market Share, Size, Trends, Industry Analysis Report, By End-Use (Automotive, Chemical, Oil & Gas, Electronics, Industrial, Medical); By Application; By Region; Segment Forecast, 2021 - 2028
- Published Date:Oct-2021
- Pages: 132
- Format: PDF
- Report ID: PM2106
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Outlook
The global high purity methane gas market size was valued at USD 6.82 billion in 2020 and is expected to grow at a CAGR of 5.4% during the forecast period. The demand for high purity methane gas has increased across the globe owing to its use in the semiconductor, energy, chemical, and transportation sectors. Market players provide pure methane with up to 99.999% purity to be used in several applications such as chemical synthesis, radiation detection, and flame vapor. Rising industrialization, growing urbanization, and increasing demand from the electronics sector drive the market growth for high purity methane.
Know more about this report: request for sample pages
The outbreak of COVID-19 has hampered the growth of industries such as transportation, energy and power, and electronics, thereby impacting the market for high purity methane. The pandemic has resulted in operational challenges, logistic slowdown, disruption of the supply chain, and workforce impairment, leading to market players halting their manufacturing activities. Reduced demand and low availability of raw materials are expected to dampen the growth. Some trends expected to drive the industry growth post-pandemic include the development of energy-efficient components, R&D to make products more sustainable and eco-friendlier, and growing applications across diverse industries.
Know more about this report: request for sample pages
Industry Dynamics
Growth Drivers
High purity methane is widely used for semiconductor manufacturing and production of electronic devices. Technological advancements are leading to the utilization of high purity methane gas in the manufacturing of amorphous silicon solar cells, carbide tools, and integrated circuits.
The increasing development of consumer electronics, mobile devices, automation, and smart technologies has strengthened the growth of the semiconductor and electronics sector, especially in emerging economies. Increasing high purity methane application in monocrystal and nanoparticle diamonds is expected to provide further growth opportunities. The utilization of high purity methane for hydrogen production to be used as a clean fuel in the transportation sector has boosted the industry's growth. Natural gas comprising the chemical goes through thermal processes such as steam-methane reformation and partial oxidation to produce hydrogen.
Fuel cell electric vehicles utilize hydrogen and oxygen to produce electricity responsible for powering the electric motor of vehicles. The growing need to reduce carbon emissions, depleting fossil fuels, and introduce stringent government regulations regarding vehicular emissions drives the growth of high purity methane in the automotive and transportation sector. Low maintenance costs along with the introduction of advanced vehicles in the market further supplement the growth of this industry. Technological advancements and significant investments by the public and private sector in the research and development of clean fuel would offer growth opportunities to the market players in the future.
Report Segmentation
The market is primarily segmented on the basis of application, end-use, and region.
|
By Application |
By End-Use |
By Region |
|
|
|
Know more about this report: request for sample pages
Insight by Application
The application segment has been divided into heat detection, chemical manufacturing, electronics development, research and development, and others. The chemical manufacturing segment is expected to grow during the forecast period. Increasing use of high purity methane in the manufacturing of chemicals such as methanol, hydrogen, and acetylene drives the growth of this segment. Rising industrialization, technological advancements, and research and development have resulted in greater demand for high purity methane from chemical manufacturing.
Insight by End-Use
On the basis of the end-use, the market is segmented into automotive, chemical, electronics, industrial, medical, and others. The electronics segment dominated the global market for high purity methane smoke in 2020. The electronics industry uses high purity methane vapor to manufacture different components and integrated circuits. It is also used for the production of electronic devices and amorphous silicon solar cells. The growing adoption of mobile devices and consumer electronics is expected to boost the growth of this segment.
Geographic Overview
North America dominated the global high purity methane gas market in 2020. The high rate of industrialization, increased consumer spending, the presence of leading players, and technological advancements are some factors attributed to the growth of this region. Increasing automotive penetration, increasing modernization of vehicles, and initiatives to promote the use of electric vehicles support the market growth for high purity methane gas in the region. Increasing application in the electrical & electronics sector further drives the growth in this region.
Competitive Landscape
The leading players in the high purity methane gas market include Air Liquide S.A., Messer Group GmbH, Advanced Specialty Gases, Linde plc, Cryocarb, Matheson Tri-Gas, Inc., AGT International, Osaka Gas Co., Ltd., Sumitomo Seika Chemicals Company, Ltd., and Bhuruka Gases Limited.
These players are expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen their presence in the market. The companies are also introducing new innovative products in the market to cater to the growing consumer demands.
High Purity Methane Gas Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2020 |
USD 6.82 billion |
|
Revenue forecast in 2028 |
USD 9.26 billion |
|
CAGR |
5.4% from 2021 - 2028 |
|
Base year |
2020 |
|
Historical data |
2016 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
|
Segments covered |
By Application, By End-Use, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key companies |
Advanced Specialty Gases, AGT International, Air Liquide S.A., American Welding & Gas, Axcel Gases, Bhuruka Gases Limited., Chemix Gases, Chengdu Taiyu Industrial Gases Co., Ltd., Cryocarb, Electronic Fluorocarbons, LLC, Gas Innovation, Linde plc, Matheson Tri-Gas, Inc., Messer Group GmbH, Middlesex Gases & Technologies, Osaka Gas Co., Ltd., Qingdao Guida Special Gas Co., Ltd., Scientific Gas Australia, Sumitomo Seika Chemicals Company, Ltd., Taiyo Nippon Sanso India, Wuhan Newradar Special Gas Co. Ltd. |
