February 09, 2021
According to a recent study titled ‘Global Specialty Gas Mixtures Market Size study, by Type (UHP, Special Application Gas Mixtures, High End Gas Mixtures, EPA Protocol, and Others), By Applications (Industrial Use, Science & Research and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global specialty gas mixtures market is expected to register an appreciable growth rate over 2020-2027.
As per the findings of the report, global specialty gas mixtures market growth is mainly driven by strong consumer development which can be ascribed to high demand from industries in applications such as manufacturing (lighting, chemicals, laser, etc.), electronics (flat panel displays, semiconductor products, etc.), academics (analytical and testing tools), healthcare, and automotive.
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Moreover, government support to strengthen manufacturing and electronics industry through subsidies and polices that ease trade and attract foreign investment is expected to accelerate global specialty gas mixtures market expansion. For instance, initiatives like Make in India and the Belt and Road Initiative in China are likely to present massive opportunities and create a favorable environment for manufacturing industries.
For the uninitiated, specialty gases are referred to as all small gases found in earth’s atmosphere. There are various type of specialty gases, including mercury gases, noble gases, high-purity gases, and halogen gases, and are preferred across various industries as they help reduce costs, maximize efficiency, and improve yields.
Despite the positive outlook of global specialty gas mixtures industry, restrictions on the use of some specialized gases are negatively impacting the business landscape as they are considered to be liable for causing global warming.
Geographically, North America, Asia Pacific, Europe, and Latin America are the key contributors to the overall specialty gas mixtures industry remuneration. Of these, Asia Pacific is major growth hub for the market owing to strong presence of several end-use industries like electronics, healthcare, manufacturing, and pharmaceuticals in this region. Adoption of new technology for production processes and packaging, along with large scale investments in development of custom blending techniques are will further accelerate the regional market expansion in the coming years, claim industry experts.
Leading players influencing the global specialty gas mixtures market trends are Taiyo Nippon Sanso Corporation, Messer Group GmbH, Matheson Tri-Gas, Inc., Itron, Inc., Colfax Corp., Iwatani Corp., Air Products and Chemicals, Inc., Praxair, Inc., Air Liquide S.A., and Linde plc (Linde AG-Praxiar, Inc., merger).