High quality gases prepared with laboratory analysis in order to eliminate their unwanted characteristics are better known as specialty gases. These gases differ from industrial gases on the accounts of compositions, certainty and their level of purity. Precise blending of the specialty gases is a must in order to achieve the desired concentration values and effects. These ultra-high pure gases have different applications across different industrial verticals. Growth in applications and beneficial, unique properties are expected to be the strongest drivers for the global specialty gas market during the next few years to come. Significant growth of the global industry as well as demand from the emerging regions is also considered to be the vital elements driving this industry in terms of value and volume.
The global market is segmented on the basis of the types of gases, which include noble, high purity, halogen, carbon and other gases. On the basis of basic applications, the global specialty gas market is divided into electronics, manufacturing, academics, healthcare and such other industries. On the basis of geography, the market is segmented into Asia Pacific, North America, Europe and the rest of the world regions. All these segments are further analyzed by the researchers on the basis of the revenue estimations and volume of the products. Demand from different parts of the world is also analyzed in order to derive estimations over future developments and investment opportunities for the key players.
Drivers and Restraints
The global specialty gas market is driven by three basic factors, which include strong growth in demand, especially for the plasma display panels and photovoltaic products, rapid growth across various end-user industries and solid growth prospects for the global healthcare sector. These three growth drivers are supported by high rise in demand from Asian healthcare industry. Advancements in terms of new and environment friendly technologies and products in the market are also expected to create strong investment opportunities for the global players. Regulatory and structural instructions are expected to be the strongest restraints for the industry. Fluctuating demand patterns and advancements of alternative technologies are expected to be the burning issues for the market.
As per the analysis of the growth trends, drivers, restraints, and segments, researchers are hoping for a steady growth of this industry during near future. From 2014 to 2018, the global specialty gas market is expected to grow at a CAGR of over 6%. At the projected growth rate, the researchers estimate the industry to be worth $23,162.1 million by the end of the forecasting period, in 2018. As per the researchers North America is currently dominating the global industry, which is expected to witness tough competition from the emerging markets like BRICS, Asia Pacific and Latin America.