Specialty Gas Market Size Worth $ 24.14 Billion By 2032 | CAGR: 7.3%

Specialty Gas Market Size Worth $ 24.14 Billion By 2032 | CAGR: 7.3%


The global specialty gas market size is expected to reach USD 24.14 billion by 2032, according to a new study by Polaris Market Research. The report “Specialty Gas Market Share, Size, Trends, Industry Analysis Report, By Product (High purity, Halogen, Nobel, Carbon, and Others); By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The specialty gas market is poised for growth due to rising demand in the manufacturing of semiconductor devices and flat panel displays. These gases are essential for producing high-tech thin films like plasma-enhanced chemical vapor deposition (PECVD). However, the market growth may face challenges from stringent environmental regulations and restrictions on specialty gas production and quality control.

Despite these hurdles, there are opportunities in the pharmaceutical and biotechnology sectors where specialty gases find applications. The Asia-Pacific region, particularly countries like China, India, and Japan, dominates the global market, exhibiting the highest consumption of specialty gases. With the region's booming industries and increasing demand for electronic products, the Asia-Pacific market holds significant potential for the specialty gas industry during the forecast period.

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The increasing need for semiconductors and LEDs drives the growing demand for specialty gases. The dynamic and competitive semiconductor industry relies on ultra-pure gases and chemicals for manufacturing. Additionally, expanding the consumer electronics sector further fuels the growth of the specialty gas industry.

Specialty Gas Market Report Highlights

  • The carbon gases segment dominates the market and is expected to maintain its leading position due to widespread use in the medical, electronics, manufacturing, healthcare, and chemical industries.
  • The healthcare segment held the largest market share and is expected to maintain its dominance, driven by the critical use of specialty gases in medical applications and procedures.
  • Asia-Pacific's rapid market growth is driven by high consumption in electronics, automotive, and healthcare sectors, fueled by rising disposable incomes and demand for electronic products.
  • The global key market players include Air Liquide, Coregas, Air Products and Chemicals, Inc., Iwatani Corporation of America, MESA Specialty Gases & Equipment, Linde plc, Messer Group GmbH, Norco Inc., YUEYANG KAIMEITE ELECTRONIC AND SPECLALTY RARE GASES CO., Mitsui Chemicals, Inc., SHOWA DENKO K.K., ILMO Products Company, Taiyo Nippon Sanso Corporation, Weldstar, Inc.

Polaris Market Research has segmented the specialty gas market report based on product, application, and region:

Specialty Gas, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • High purity
  • Halogen
  • Nobel
  • Carbon
  • Others

Specialty Gas, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Manufacturing
  • Institutional
  • Electronics
  • Healthcare
  • Others

Specialty Gas, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Specialty Gas Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 12.79 billion

Revenue forecast in 2032

USD 24.14 billion

CAGR

7.3% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2032

Segments Covered

By Product, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Air Liquide, Coregas, Air Products and Chemicals, Inc., Iwatani Corporation of America, MESA Specialty Gases & Equipment, Linde plc, Messer Group GmbH, Norco Inc., YUEYANG KAIMEITE ELECTRONIC AND SPECLALTY RARE GASES CO., Mitsui Chemicals, Inc., SHOWA DENKO K.K., ILMO Products Company, Taiyo Nippon Sanso Corporation, Weldstar, Inc.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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