High Purity Gas Market Size ,COVID19 impact on Industry and Outlook 2030

The high-purity gas market is growing at a rapid pace. The market growth attributes to the increased market demand led by the booming industrialization worldwide. Besides, the rising consumption of various industrial gases for cooling, insulation, and illumination applications defines the growing landscape of the High Purity Gas Market Size. The electronics industry is a major user of high-purity gas. Therefore, the burgeoning electronics industry escalates market growth to further heights.

On June 10, 2020, the Korea Institute of Energy Research (KIER — South Korea) announced the development of a modular device that can collect 99.99 percent pure hydrogen, the main element for the low-cost production of hydrogen fuel using liquefied natural gas (LNG). This new integrated convection system is expected to increase the efficiency of heat and mass transfer.

Additionally, the surging demand for energy and uses of high-purity gas in several processes of petroleum refinery act as key growth drivers for the market. Extensive consumption of high-purity gases in the production of refractory materials, cement, and glass drive substantial market demand. Furthermore, the application expanse of high-purity gas in surface coating and polymer additives substantiates the market growth.

Global High-Purity Gas Market — Segments

The report is segmented into three dynamics;

By Product: Carbon Gases, Noble Gases, High Atmospheric Gases, and others.

By Application: Electronics, Automotive, Pharmaceutical, and others.

By Regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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Global High-Purity Gas Market — Regional Analysis

Asia Pacific dominates the global high-purity gas market. The largest market share is attributed to the massive consumption of high-purity gases in major end-use applications. Besides, the presence of major industry players and end-user industries in the region drives market growth. Moreover, booming electronics sectors in rapidly developing economies such as China and India foster regional market growth.

Also, the rising production in the automotive and pharmaceutical industry boosts market growth, creating a huge market demand in the region. The APAC high-purity gas market is expected to retain its dominance over the global market throughout the assessment period.

North America is another lucrative market for high purity gases. The market is majorly driven by the large petroleum industry and growing telecom infrastructure in the region. Due to its vast industrialization, the region requires enormous amounts of high purity gases, which drive the growth of the market. Additionally, substantial developments in automotive industries and renewable energy sectors drive the market demand considerably.

The high purity gas Growth Projections in Europe is growing substantially. Factors such as the presence of well-established automotive, pharmaceutical and electronics industries push market growth. Moreover, considerable developments in large automotive sectors are a vital source for growth in the European pacific high-purity gas market.

Europe also possesses large quantities of high-purity gases, which increases the size of the market. Furthermore, proliferating battery industries in Germany, Italy, and Sweden provide an enormous impetus to regional market growth.

Global High-Purity Gas Market — Competitive Landscape

Highly competitive, the high-purity gas market appears fragmented due to the presence of numerous big and small players. Strategies such as mergers & acquisitions, collaboration, and product/technology launches remain key trends for the leading players to gain a larger competitive share.

Industry players invest substantially to develop new high-purity & specialty gas lines to be used in countless applications, ranging from life-saving oxygen for hospitals to electronics manufacturing, clean fuels, and much more. They strive to deliver state-of-the-art gas processing solutions to support customer expansion, efficiency improvements, and emissions reductions.

Major Players:

Players active in the global high-purity gas market include Linde Group (Germany), Praxair Inc. (U.S.), Air Liquide S.A. (France), Advanced Specialty Gases Inc. (U.S.), Messer Group (Germany), Matheson Tri-Gas Inc. (U.S.), Air Products and Chemicals Inc. (U.S.), Airgas Inc. (U.S.), Iceblick Ltd. (Ukraine), and Iwatani Corporation (Japan), among others.

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