"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Specialty Gas Market Size, Share & Industry Analysis, By Type (Electronic Gas, Gas & Liquid Mixtures, Pure Gases, and Others), By End-Use Industry (Semiconductors, Petroleum & Chemical, Healthcare, and Others), and Regional Forecast, 2024-2032

Last Updated: May 06, 2024 | Format: PDF | Report ID: FBI108437

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global specialty gas market size was valued at USD 12.57 billion in 2023 and is expected to grow from USD 13.71 billion in 2024 to USD 26.58 billion by 2032, exhibiting a CAGR of 8.6% during the forecast period.


Specialty gases are generally considered highly pure gases ranging from 99.2N% to 99.5N%. Specialty gases include calibration gases, carrier gases, instrumentation gases, noble gases, and others. Due to its highly pure nature, it is used in various applications, including analytical & calibration instruments, aviation, chemical, electronic devices, and medical. As every sector strives to become more efficient in its production and safety process, thus it creates more demand in this industry. For instance, these gases reduce the risk by maintaining the pressure levels in aircraft cabins and fuel tanks. Apart from safety, these gases can significantly increase the efficiency of medical research due to their highly pure nature. The advantages and wide range of applications shape the global market.


Surging demand for smartphones and tablets fuels the consumption of these gases in the semiconductor industry as integrated circuit chips are shrinking from centimeters to nanometers to increase their speed and reduce power consumption. Such high-performance chips require new materials deposited in Chemical Vapor Deposition (CVD) and Atomic Layer Deposition (ALD) processes. In addition, nano-scale semiconductor chip structures require multiple patterning processes. Increasing demand for personal devices and faster processing chips are poised to fuel the sales of deposition and etching gases over the assessment period.


During the COVID-19 outbreak, when almost every industry was facing turbulence, the semiconductor industry experienced growth of nearly 10% in 2020 from the previous year, 2019. Specialty gas, an essential raw material in the semiconductor chip manufacturing process, has driven the demand for these gases during the pandemic.


Specialty Gas Market Trends


Megatrends such as 5G and Electric Vehicle are set to Create Progressive Environment for the Market


As we enter the 5G era, it will enable new application areas such as augmented reality, edge computing, and the Internet of Things. To establish these technologies, we need new high-performance semiconductors that can enable data transfer at high speeds providing better connectivity between devices.


High-performance computing has experienced significant demand in recent years due to increasing usage across all industries for real-time insights and solving complex problems. For instance, credit card fraud detection can only be done by using HPC, and as the tactics constantly change fraudsters, it will require more complex programming to deal with it. Similarly, HPC is used in cancer diagnosis, genome sequencing, and molecular modeling in healthcare and life science industries.


Electric vehicles have as many as twice the semiconductors as IC-based vehicles. This has created a new stream of demand for semiconductors and is set to create humongous demand in the future, owing to the high adoption rate of electric vehicles globally. As we move toward electric mobility, it has propelled the momentum of autonomous mobility. These trends will not only create huge demand for semiconductors but will also require high-performance semiconductor chips. Specialty gas, the essential element in producing many semiconductors, will experience explosive growth in its consumption throughout the assessment period.


Request a Free sample to learn more about this report.


Specialty Gas Market Growth Factors


Specialty Gas to become an Ideal Ingredient in the Petrochemical Industry, Driving the Market Growth


Advancements in production technology and rising demand for petrochemicals are set to assist the specialty gas market growth over the assessment period. Petrochemical products are used across various applications, including clothing, digital devices, detergents, fertilizers, medical equipment, packaging, plastics, and tires. In addition, petrochemicals are also used in many modern systems such as batteries, electric vehicle parts, solar panels, and others. Owing to such a wide range of applications, today's petrochemical feedstock consumes nearly 12% of the global oil demand and is set to account for over one third of the global oil demand by 2030. This growth is attributed to increasing demand for petrochemicals, mainly from fertilizers, plastics, and rubber industries. These gases are used in the petrochemical industry to optimize performance, resulting in improved yields and lower costs.


Rising Prevalence of Chronic Condition to Drive the Market Growth


The healthcare industry is among the prominent consumers of specialty gas. Specialty gases are utilized in a wide range of applications, including but not limited to anaesthesia calibration, pulmonary function, blood gas calibration, respiratory calibration, etc. Many gases, such as oxygen, carbon dioxide, and other specialty gas mixtures, are used in hospitals and clinics. Oxygen in its purest form plays various important roles, such as treating hypoxia or chronic obstructive pulmonary disease (COPD), as nebulization for respiratory aerosol medications and in hyperbaric oxygen therapy. In addition, the prevalence of chronic diseases is increasing all across the globe. For instance, according to the American Hospital Association, nearly 133 million Americans are living with at least one chronic condition. The rising prevalence of chronic diseases and specialty gas being an essential ingredient in it will drive market growth.


RESTRAINING FACTORS


Customized Demand and Many Complexities Attached to Specialty Gases Act as a Restraining Factor


As per the nature of specialty gases, in many cases, it is manufactured for specific applications and a specific customer. This requires a great amount of effort and investment in comparison to industrial or medical gas products. Owing to this nature, it is not one of the shelf items that can be ordered whenever the customer requires it. Sometimes, it requires weeks to produce the perfect blend of specialty gas for the required application.


Apart from customization, high purity standards make it more complex and expensive to produce. As these gases are highly pure, i.e., from 3N to 6N, their packaging creates another issue. Few ppm impurities can result in serious consequences to the end-user as these gases are highly reactive, flammable, and corrosive or it can be toxic in nature. Thus, these gases require a tremendous amount of care even when it is introduced into the cylinder. The aforementioned factors create various challenges in specialty gas production, making it a highly expensive and complex product to produce.


Specialty Gas Market Segmentation Analysis


By Type Analysis


Growing Demand for Electronic Devices to Fuel the Consumption of Electronic Gas  


Based on type, the market is segmented into electronic gas, gas & liquid mixtures, pure gases, and others. The electronic gas segment accounted for the largest specialty gas market share in 2023 and is poised to maintain its dominance during the assessment period. Electronic gases are used in the electronic industry for various applications such as fiber optics, microelectronics, surface coatings, and others. Gases such as ammonia, silane, sulfur hexafluoride, hydrogen bromide, and hydrogen chloride are a few electronic gases widely used in the aforementioned applications.


The gas & liquid mixtures segment is estimated to hold a significant share of the global market in 2023. These gases are generally categorized as binary mixtures and multi-component mixtures made using different types of gases with dissimilar molecules. These gases are mainly used in calibration & testing, laser, and lighting applications. Pure gases deal in various gas types, including but not limited to acetylene, argon, carbon dioxide, helium, hydrogen, nitrogen, and oxygen. Owing to its highly pure nature, it is in demand from various industries such as petrochemicals, pharmaceuticals, research & development, laser, steel industry, and others.


By End Use Industry Analysis


To know how our report can help streamline your business, Speak to Analyst


Heightened Growth in Semiconductor Industry to Lead the Market


The market is segmented by end use industry into semiconductors, petroleum & chemical, healthcare, and others. Growing demand for smartphones, electric vehicles, autonomous vehicles, and high-performance computing fuel semiconductor chip production is set to experience high growth in the foreseen period. The semiconductor industry is receiving billions of dollars of investment to meet its growing demand, allowing it to grow rapidly compared to any other industry. The semiconductor industry has remained one of the prominent consumers of these gases. Due to its future expansion, it is set to dominate the market.


The petroleum & chemical segment is anticipated to create a demand for specialty gases at a significant rate owing to its increasing consumption as a feedstock, fuel, and in heating applications. Various kinds of carbon gases and hydrocarbon mixtures are used in this application. Since the past decade, the petrochemical industry has enjoyed prolonged growth and has grown at a CAGR of nearly 10%. The healthcare industry consumes specialty gases in their pure form for various levels of analysis and quality control applications.  Apart from the above-listed applications, these gases are used in other industrial applications such as food & beverage, automotive, aviation, and steel production.


REGIONAL INSIGHTS


Asia Pacific Specialty Gas Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market size in Asia Pacific stood at USD 8.37 billion in 2023, dominating the global market share. Asia Pacific, the manufacturing hub for many semiconductor and chemical products, has made it a leading specialty gas consumer. Fast-growing countries, such as China, India, and Singapore, mainly fuel this region. These countries are attracting huge investments in industrial sectors, such as semiconductors, chemical, and healthcare, creating many opportunities for market players.


To know how our report can help streamline your business, Speak to Analyst


North America is one of the largest oil & gas, chemical, and semiconductor producers, which has become a prominent consumer of these gases. Also, it is the home of leading gas manufacturers such as Air Products and Merck. High growth in this region's semiconductor and healthcare industry is poised to fuel the demand for these type of gases during the forecast period.


Europe is the second largest chemical producer and home of advanced healthcare technologies & facilities but lags in the semiconductor industry. However, a few European countries, such as the Netherlands, Germany, France, and the U.K., surge the demand for electronic gases.


Latin America is projected to grow at a moderate growth rate over the assessment period. The growth is anticipated to be led by Brazil, the eighth largest chemical manufacturer globally, representing 10% of Brazil’s total GDP. Brazil is the largest healthcare market in Latin America, and these two factors will spur the demand for these type of gases. Foreign companies ' growing investments in the Middle East & Africa region are set to create a progressive environment for the market growth.


List of Key Companies in Specialty Gas Market


Capacity Expansion in Lucrative Regions to Remain Prominent Strategy by Market Players


Air Liquide, Air Products, Linde, and Nippon Sanso Holdings Corporation are some of the major specialty gas manufacturers operating in the market. It is observed that leading companies are involved in various organic and inorganic strategies to enhance their stance in the market over their competitors. Companies, such as Merck, Yingde Gases, and Linde have been involved in many production capacity expansion projects in the past two to three years. For instance, in 2021, Linde won projects worth USD 1 billion from semiconductor manufacturers, including several capacity expansions in leading economies such as the U.S., China, Taiwan, and Singapore. Similarly, other companies are anchoring their presence in lucrative regions to grab high profits.


LIST OF KEY COMPANIES PROFILED:



  • Air Liquide (France)

  • Air Products (U.S.)

  • Linde (U.K.)

  • Merck (U.S.)

  • Messer (Germany)

  • MESA Specialty Gases (U.S.)

  • Nippon Sanso Holdings Corporation (Japan)

  • Samatorgas (Indonesia)

  • Showa Denko (Japan)

  • Yingde Gases (China)


KEY INDUSTRY DEVELOPMENTS:



  • June 2023- Linde plans to acquire three Air Separation Units (ASU) from Wanhua, in which two ASUs are currently under construction and are set to start by 2024 and 2025. This will allow Linde to strengthen its position in the China market.

  • April 2023- Air Liquide India acquired an Indian company named EffecTech, which specializes in calibration and testing services. This will allow Air Liquide to extend its offerings precisely to existing and new customers.

  • April 2023- Linde announced expanding its production capacity in Tangjeong, South Korea to increase its supply of specialty industrial gases to Samsung Display.

  • October 2022- Nippon Sanso launched a product named CLifter. It is a high-pressure gas cylinder transport system that will consume less energy than other existing transportation systems.

  • August 2022- Merck entered into a joint venture with Micron Company for a research & development project to produce sustainable gas solutions for the semiconductor industry.


REPORT COVERAGE


An Infographic Representation of Specialty Gas Market

To get information on various segments, share your queries with us



The research report provides detailed market analysis and focuses on crucial aspects such as leading companies, types, applications, end-user industries, and products. Also, it provides quantitative data regarding value, market analysis, research methodology for market data, and insights into market trends and highlights vital industry developments and competitive landscape. In addition to the abovementioned factors, the report encompasses various factors contributing to the market growth in recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Unit



Value (USD Billion)



Growth Rate



CAGR of 8.6% during 2024-2032



Segmentation


 



By Type



  • Electronic Gases

  • Gas & Liquid Mixtures

  • Pure Gases

  • Others



By End-Use Industry



  • Semiconductors

  • Petroleum & Chemical

  • Healthcare

  • Others



By Geography



  • North America (By Type, By End-Use Industry, By Country)

    • U.S. (By End-Use Industry)

    • Canada (By End-Use Industry)



  • Europe (By Type, By End-Use Industry, By Country)

    • Germany (By End-Use Industry)

    • Netherlands (By End-Use Industry)

    • France (By End-Use Industry)

    • U.K. (By End-Use Industry)

    • Rest of Europe (By End-Use Industry)



  • Asia Pacific (By Type, By End-Use Industry, By Country)

    • China (By End-Use Industry)

    • Japan (By End-Use Industry)

    • South Korea (By End-Use Industry)

    • Taiwan (By End-Use Industry)

    • Rest of Asia Pacific (By End-Use Industry)



  • Latin America (By Type, By End-Use Industry, By Country)

    • Brazil (By End-Use Industry)

    • Mexico (By End-Use Industry)

    • Rest of Latin America (By End-Use Industry)



  • Middle East & Africa (By Type, By End-Use Industry, By Country)

    • GCC (By End-Use Industry)

    • Africa (By End-Use Industry)



  • Rest of Middle East & Africa (By End-Use Industry)






Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 12.57 billion in 2023 and is projected to reach USD 26.58 billion by 2032.

Growing at a CAGR of 8.6%, the market will exhibit rapid growth over the forecast period (2024-2032).

By end-use industry, the semiconductors segment is expected to lead the market during the forecast period.

Increasing demand for electronic gases from semiconductor industry across various levels of production processes will boost market growth.

China held the highest share of the market in 2023.

Air Liquide, Air Products, Linde, and Nippon Sanso Holdings Corporation are the leading players in the market.

Growing emphasis on safety, quality, and efficiency in various industries will increase the demand for high purity gases thus creating remunerative opportunities for market players operating in the global market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 164

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

Samsung
uniliver
Kpmg
BASF
Mckinsey

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X