Materials & Chemicals Market Research News

Specialty gas market worth $23,162.1 million by 2018 according to market forecasts

Materials & Chemicals Research

The report has been analyzed in detail to assist clients with all the vital data to frame tactical business judgments and propose strategic growth plans. The Specialty Gas market report offers a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures.

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The report, "Specialty Gas Market by Types (High Purity, Noble, Carbon, Halogen, and Others), by Applications (Manufacturing, Electronics, Healthcare, Academics, and Others) & Geography - Global Trends and Forecast to 2018", define and segment the global Specialty Gas Market with analysis and projection of the global consumption value.

The global specialty gas market is witnessing high growth on an account of increasing applications, technological advancements, and growing demand in the Asia-Pacific region. It is a preferred and widely accepted range of gas due to its inherent properties and wide range of applications.

Specialty gases consumption has grown significantly in the recent times and is at an emerging stage in various countries.

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North America - Biggest Market of Specialty Gas

North America has always been a strong market for specialty gas and globally, this market has been a leader for specialty gas with respect to demand. The region has the presence of most global leaders in specialty gas manufacturing.

Specialty gas consumption in the region is estimated to grow at a CAGR of about 6.3% from 2013 to 2018. The region has a relatively moderate growth rate as a result of its dominant market size and continuously increasing demand.

The demand in the region is mainly due to the increasing appetite for specialty gas in U.S.

Asia-Pacific - The Fastest Growing Specialty Gas Market

Asia-Pacific being the fastest growing specialty gas market globally is estimated to grow at a CAGR of 8.1% for the next five years. Asia-Pacific is witnessing a high industrial growth which hints at an ever increasing demand for specialty gas for its diverse applications.

China dominates the specialty gas market in the Asia-Pacific region being a major consumer and the fastest growing country in terms of specialty gas demand. Currently, a high share of specialty gas is consumed by the manufacturing industry and the demand for specialty gas through the manufacturing industry is expected to grow in the next five years at a CAGR of more than 6.1% from 2013 to 2018.

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