According to the latest market research study released by Technavio, the global specialty gases market is expected to grow at a CAGR of more than 6% during the forecast period 2017-2021.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global specialty gases market based on type:
Global specialty gases market shares by type 2015
|
Carbon-based gases |
38.2% |
|
Others |
31.3% |
|
Noble gases |
11.4% |
|
Halogen-based gases |
10.5% |
|
Atmospheric gases |
8.6% |
Source: Technavio
The top three revenue contributing type segments are discussed below:
Global specialty gases market by carbon-based gases
In 2016, carbon-based gases in the global specialty gases market accounted for around 38% share. Gases such as carbonyl sulfide, carbon dioxide, and other carbon derivative gases form part of carbon-based specialty gases. Compressed carbon dioxide and liquid carbon dioxide can be produced in different combinations of purities and concentrations. High-purity carbon dioxide is primarily used in beverage carbonation application. It is used to create carbonated beverages that have fizz.
“The applications of carbon-based specialty gases include food packaging, waste water neutralization, and end-users such as food and beverage and metal working industries. The grade of the gas depends on the application; it is being used for. Key vendors of the market are either setting up their new carbon dioxide facilities or opting for M&As,” says Ajay Adhikhari, a lead analyst at Technavio for research on specialty chemicals.
Global specialty gases market by noble gases
Noble gases, also known as inert gases or aerogens, are a group of chemical elements that show chemical unresponsiveness because of their unique atomic structures. Most of these gases are unreactive because of which they are extensively used in non-reactive applications. There are six naturally occurring noble gases such as helium, argon, xenon, neon, krypton, and radon. Noble gases have great industrial applications due to their inert nature. Food and beverage, healthcare, chemical, and automotive industries are the prominent end-use industries in the noble gases market and are increasingly used for cryogenic applications too. They are used as cooling mediums for large hadron colliders (LHC) and for superconducting magnets in magnetic resonance imaging (MRI) scanners and nuclear magnetic resonance (NMR) spectrometers. The continuous rise in the demand for the noble gases from the imaging and electronics industry is expected to lead to huge price fluctuations and occasional supply deficits during the forecast period.
Global specialty gases market by halogen-based gases
Halogens are a non-metallic group of elements that exist in all states of matter such as bromine (liquid), iodine and astatine (solid), and fluorine and bromine (gas). Halogen gases such as hydrogen fluoride is used in glass etching process. Methyl bromide is used as an agricultural fumigant. High-purity chlorine gas has great demand from a wide range of industries that use carrier gases for chromatography techniques, food processing, metallization furnaces, and manufacture of semi-conductors. The power and energy industry uses chlorine gas for water treatment and disinfection. Chlorine is an important reagent in the polymer production, agrochemical, and pharmaceutical industries. In the textile industry, chlorine gas is used as a bleaching agent. Of late, high demand is observed from the electronics industry which uses high purity chlorine gas for semiconductor applications.
The top leading vendors operating in the global specialty gases market are:
- Air Liquide
- Air Products and Chemicals
- Linde
- Messer
- Praxair
Other prominent vendors in the market include Advanced Gas Technologies, Advanced Specialty Gases, Maine Oxy, Norco, Showa Denko K.K., Taiyo Nippon Sanso, and Welsco.
A more detailed analysis is available in the Technavio report titled, ‘Global Specialty Gases Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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