Speciality Gas Market Size and By Region – Global Opportunities & Forecast, 2021-2028

 

Specialty Gas Market

The global Specialty Gas Market size is likely to elevate at a rate of 8.8% growth over the period of analysis. This is because of the augmenting application of specialty gases in electronics, healthcare, and manufacturing applications. Also, the rising prominence of gas in the healthcare industry because of the increasing consumption of noble gases in several medical areas will bolster the market growth.

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Specialty Gas Market Dynamics

Market growth can be attributed to the increasing demand for specialty gas from healthcare and electronics end-use industries which reckon for the majority share of the total market, and improving economic conditions fostering high demand for electronic goods in China and India. The growth in the specialty gas market can be attributed to the augmenting demand for specialty gas from the electronic and healthcare sector. This huge demand has enhanced the economic conditions, thereby resembling huge demand for electronic instruments in India and China.

Also, as projected by the Specialty Gas market research report, specialty gases are used in the electronic sector to produce constituents such as silicon wafers, flat panel display products, and semiconductors. Also, the growing demand for complicated semiconductors has raised the demand for wet processes ha displaced by cleaning and gas-phase engraving, which stimulates the usage of specialty gas. Furthermore, the establishment in healthcare, automotive, and electronics industries because of the increasing prominence in the Asia Pacific region has presented enormous opportunities for the market.

Application Segment Drivers

By application, the healthcare segment is projected to seize the largest share in the global specialty gas market, registering more than 27% growth rate in 2020. The increasing prominence of specialty gas in the healthcare industry because of its massive application in several medical uses has stimulated market growth. However, the Specialty Gas market forecast divulges that the manufacturing segment is likely to seize the second-largest share in the market. This considerable share can be attributed to the growing need for highly pure gas for several specific uses. Also, the growing demand because of the existent usages of display techniques such as 4K, flexible displays, and OLED has driven the global Specialty Gas market share.

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