North America Specialty Gas Market, By Type (High Purity Gases, Noble Gases, Carbon Gases, Halogen Gases, and Others), Ingredients (Argon, Bromine, Nitrogen, Helium, Carbon Monoxide, Xenon, Methane, Krypton, Oxygen, Neon, Hydrogen, and Others), Application (Manufacturing, Electronics, Healthcare, Academics, Analytical & Calibration, Refrigeration, and Others) – Industry Trends and Forecast to 2030.
North America Specialty Gas Market Analysis and Size
The rise in expenditure in the medical and healthcare sectors across the region acts as one of the major factors driving the growth of the North America specialty gas market. The increase in demand for manufacturing semiconductor devices and flat panel displays and the high usage of specialty gas as cleaning gas for plasma enhanced chemical vapor deposition (PECVD) for high-tech thin films accelerate the market growth.
Data Bridge Market Research analyses that the North America specialty gas market which was USD 10.70 billion in 2022, would rocket up to USD 19.10 billion by 2030, and is expected to undergo a CAGR of 7.1% during the forecast period of 2023 to 2030. The “High Purity Gases” segment in the type segment dominates the specialty gas market as it is crucial in various industries, including electronics, healthcare, and manufacturing. They are used in critical applications like semiconductor manufacturing, healthcare, and laboratory research, where precision and purity are paramount.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
North America Specialty Gas Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volume in Kilo Tons, Price in USD
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Segments Covered
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Type (High Purity Gases, Noble Gases, Carbon Gases, Halogen Gases, and Others), Ingredients (Argon, Bromine, Nitrogen, Helium, Carbon Monoxide, Xenon, Methane, Krypton, Oxygen, Neon, Hydrogen, and Others), Application (Manufacturing, Electronics, Healthcare, Academics, Analytical & Calibration, Refrigeration, and Others)
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Countries Covered
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U.S, Canada, and Mexico
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Market Players Covered
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The Linde Group (Germany), Air Liquide (France), Southern Industrial Gas Sdn Bhd (Malaysia), Air Products and Chemicals Inc. (U.S.), Praxair Technology, Inc. (U.S.), Showa Denko K.K. (Japan), Messer Group Gmbh (Germany), Mitsui Chemicals Inc. (Japan), and TAIYO NIPPON SANSO CORPORATION (Japan).
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Market Opportunities
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Market Definition
Specialty gases, also known as high-purity gases, are ultra-pure gases employed in diverse industries for precise applications. They adhere to stringent quality standards due to their low impurity levels. These gases serve various purposes, such as calibrating analytical instruments in research labs, enabling semiconductor manufacturing, preserving food in the food industry, and powering propulsion systems in aerospace. In healthcare, they play a vital role in medical gases and anesthesia. The versatility of specialty gases extends to environmental monitoring, electronics, and many other sectors, where purity and precision are essential.
North America Specialty Gas Market Dynamics
Drivers
- Increasing Technological Advancements
Continuous technological innovations drive the North America Specialty Gas Market. Advanced applications in the electronics industry, such as semiconductor manufacturing and nanotechnology, rely on ultra-pure gases. As technology evolves, the demand for high-purity and specialty gases is expected to increase, particularly in the United States and Canada, which are hubs for technological innovation.
- Rise in Healthcare Advancements
The healthcare sector is a significant driver, with ongoing medical advancements and an aging population leading to increased demand for medical gases. Specialty gases are essential for applications like anesthesia and diagnostic testing. With a growing emphasis on healthcare quality, this trend is expected to boost the market's growth.
- Stringent Environmental Regulations
Stringent environmental regulations in North America are driving the demand for specialty gases in emissions monitoring and environmental testing. To comply with air and water quality standards, industries require accurate and reliable specialty gases for calibration, resulting in market growth.
Opportunities
- Rising Green Initiatives
The increasing focus on sustainability presents an opportunity for eco-friendly specialty gases. The development of low-global warming potential (GWP) gases and sustainable production methods aligns with environmental consciousness, offering a competitive edge and growth potential for manufacturers.
- Rapid Industrialization
North America's rapid industrialization, particularly in sectors like automotive, aerospace, and energy, creates opportunities for specialty gas applications. For instance, the growth of electric vehicles and renewable energy technologies necessitates specialty gases in manufacturing and quality control processes.
Restraints
- Price Volatility
Fluctuations in raw material prices and energy costs impact the production and pricing of specialty gases. The uncertainty surrounding prices can hinder market stability and profitability, affecting both suppliers and consumers.
- Supply Chain Challenges
The North America specialty gas market relies on complex supply chains, with transportation and logistics playing a crucial role. Disruptions, such as those caused by natural disasters or geopolitical tensions, can lead to supply chain challenges and affect the timely delivery of specialty gases.
Challenges
- Competitive landscape
The North America specialty gas market is highly competitive, with several established players. New entrants face challenges in establishing a foothold and differentiating themselves in this mature market. Competition may also lead to price pressures, affecting profitability.
- Regulatory Compliance
Meeting evolving and stringent regulatory standards for gas purity, labeling, and safety poses a significant challenge. Companies must invest in quality control and compliance measures to ensure their products meet the required standards, which can be resource-intensive.
This specialty gas market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Specialty Gas market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In June 2023, Meritus Gas Partners joined forces with Global Calibration Gases, LLC. Global Calibration Gases, based in Sarasota, Florida, specializes in manufacturing and distributing specialty gases, particularly calibration gases, for a range of industries, including chemicals, pharmaceuticals, petrochemicals, natural gas, and petroleum refineries, among others. This strategic partnership is expected to enhance the capabilities of Meritus Gas Partners, with a focus on specialty gases. Ray Borzio, the President of Global Calibration Gases, will continue to lead the company, ensuring continuity and expertise in the specialty gas sector
North America Specialty Gas Market Scope
The North America specialty gas market are segmented on the basis of the type, ingredients, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
TYPE
- High Purity Gases
- Noble Gases
- Carbon Gases
- Halogen Gases
- Others
INGREDIENTS
- Argon
- Bromine
- Nitrogen
- Helium
- Carbon Monoxide
- Xenon
- Methane
- Krypton
- Oxygen
- Neon
- Hydrogen
- Others
APPLICATION
- Manufacturing
- Electronics
- Healthcare
- Academics
- Analytical & Calibration
- Refrigeration
- Others
North America Specialty Gas Market Regional Analysis/Insights
The North America specialty gas market is analysed and market size insights and trends are provided by country, type, ingredients, and application as referenced above.
The countries covered in the North America specialty gas market report are U.S, Canada and Mexico.
The U.S. is expected to dominate the specialty gas market due to its robust economy, diverse industries, innovation, research, and established regulatory standards, and it is expected to witness the highest growth in the forecast period due to its strong industrial base and innovation.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of the global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Specialty Gas Market Share Analysis
The North America specialty gas market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the North America specialty gas market.
Some of the major players operating in the North America specialty gas market are:
- The Linde Group (Germany)
- Air Liquide (France)
- Southern Industrial Gas Sdn Bhd (Malaysia)
- Air Products and Chemicals Inc. (U.S.)
- Praxair Technology, Inc. (U.S.)
- Showa Denko K.K. (Japan)
- Messer Group Gmbh (Germany)
- Mitsui Chemicals Inc. (Japan)
- TAIYO NIPPON SANSO CORPORATION (Japan)
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