Specialty Gas Market Size Worth $14.2 Billion By 2027 | CAGR: 5.2%: Grand View Research, Inc.

San Francisco, May 18, 2020 /PRNewswire/ -- The global specialty gas market size is expected to reach USD 14.2 billion by 2027, registering a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to be positively influenced by growing demand from the manufacturing, electronics, and healthcare sector.

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Key suggestions from the report:

    --  Carbon gases was the largest product segment capturing around 27% of the
        market share in 2019 due to growing demand from various end-use
        industries such as chemical, oil, and food and beverages
    --  The healthcare segment occupied the largest share in 2019 on account of
        its extensive use in devices such as NMRI, MRI, and ophthalmology
    --  Asia Pacific is anticipated to be the largest regional segment in 2027
        accounting for USD 6.4 billion owing to presence of numerous end-use
        industries such as healthcare, electronics, manufacturing, and
        pharmaceutical
    --  Key players include Linde plc; Air Liquide International S.A.; Messer
        Group GmbH; Air Products and Chemicals, Inc.; Weldstar, Inc.; Mesa
        Specialty Gases & Equipment; Norco Inc.; Taiyo Nippon Sanso Corporation;
        and Showa Denko K.K.
    --  Research & development activities, new product launches, and
        technological collaborations are some of the strategic initiatives taken
        up by leading companies in the market.

Read 107 page research report with ToC on "Specialty Gas Market Size, Share & Trends Analysis Report By Product (Noble, Carbon, Ultra-high Purity, Halogen) By Application (Manufacturing, Electronics, Healthcare), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/specialty-gas-market

Specialty gases possess the potential to be extensively used in numerous end-use industries such as electronics and institutional research sector. Various types of specialty gases are manufactured from raw materials such as natural, atmospheric, and air derived gases. However, the manufacturing process requires continuous monitoring and special-purpose machinery, which makes it cost-intensive.

Utilization of improved medical technologies and increasing government expenditure on the healthcare industry is accelerating the applicability rate of specialty gases in various medical devices such as magnetic resonance imaging (MRI), nuclear magnetic resource imaging (NMRI), and ophthalmology.

Growing end-user industries, increasing demand for photovoltaic products, and plasma panel displays is touted to aid the market growth further. Manufacturing and healthcare companies are continuously investing in research and development operations to introduce advanced solutions for increasing scope of application and equipment efficiency.

Grand View Research has segmented the global specialty gas market on the basis of product, application, and region:

    --  Specialty Gas Product Outlook (Revenue, USD Million, 2016 - 2027)
        --  Ultra-high Purity
        --  Noble
        --  Carbon
        --  Halogen
        --  Other
    --  Specialty Gas Application Outlook (Revenue, USD Million, 2016 - 2027)
        --  Manufacturing
        --  Electronics
        --  Healthcare
        --  Institutional
        --  Other
    --  Specialty Gas Regional Outlook (Revenue, USD Million, 2016 - 2027)
        --  North America
            --  U.S.
            --  Canada
            --  Mexico
        --  Europe
            --  Germany
            --  U.K.
            --  France
        --  Asia Pacific
            --  China
            --  India
            --  Japan
            --  South Korea
        --  Central & South America
            --  Brazil
            --  Argentina
        --  Middle East & Africa
            --  Saudi Arabia
            --  UAE

Find more research reports on Distribution & Utilities Industry, by Grand View Research:

    --  Gas Pipeline Infrastructure Market - Global gas pipeline infrastructure
        market size was valued at USD 2,480.2 billion in 2019 and is expected to
        grow at a compound annual growth rate (CAGR) of 3.4% from 2020 to 2027.
    --  Natural Gas Generator Market - Global natural gas generator market size
        was valued at USD 5.30 billion in 2018 and is projected to grow at a
        CAGR of 10.7% over the forecast period.
    --  Pipeline Pigging Services Market - Global pipeline pigging services
        market size was valued at USD 9.7 billion in 2018 and is anticipated to
        witness a CAGR of 5.7% over the forecast period.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.