Specialty Gas Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Report Covers Specialty Gas Companies and the Market is Segmented by Type (High-Purity Gases, Noble Gases, Carbon Gases, Halogen Gases, and Other Types), End-User Industry (Automotive, Electronics, Healthcare, Food and Beverage, Oil and Gas, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts in terms of revenue (USD million) for all the above segments.

Specialty Gas Market Size

Specialty Gas Market Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Specialty Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Specialty Gas Market Analysis

The specialty gas market is projected to register a CAGR of more than 4% during the forecast period.

  • COVID-19 negatively impacted the market in 2020. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
  • The growth of the specialty gas market is anticipated to be driven by the increasing demand in manufacturing semiconductor devices and flat panel displays and its usage as a cleaning gas for plasma-enhanced chemical vapor deposition (PECVD) for high-tech thin films.
  • Stringent environmental regulations and restrictions on specialty gas production and quality control are expected to hinder the market growth. Applications in the pharmaceutical or biotechnology sector are expected to act as opportunities for the market during the forecast period. The Asia-Pacific region dominates the global market, with the largest consumption from countries such as China, India, and Japan.

Specialty Gas Market Trends

This section covers the major market trends shaping the Specialty Gas Market according to our research experts:

Electronics Sector to Drive the Specialty Gas Market

  • In the electronics industry, light-emitting diodes (LEDs) are one of the major applications of specialty gas, which find major consumer demand due to their advantages like lower energy consumption and longer operating life than other traditional lighting sources. Ammonia is used in nitride-based thin films and epitaxial crystals. In the application of LEDs, ultra-high purity of epitaxial crystals is critical.
  • Furthermore, semiconductors utilized in the production of personal computers (PCs) and smartphones are constantly increasing, thus propelling the growth of the specialty gas market. The global consumer electronics industry has been growing rapidly worldwide over the years, owing to the consistently increasing demand for cellular phones, portable computing devices, gaming systems, and other personal electronic devices.
  • China has the world's largest electronics production base. Electronic products, such as wires, cables, computing devices, and other personal devices, recorded the highest growth in electronics. The country serves the domestic demand for electronics and exports electronic output to other countries, thus providing huge market growth.
  • Also, the Indian electronics industry is one of the fastest-growing industries globally. According to "A Call to Action for Broadening and Deepening Electronics Manufacturing," a study by the Ministry of Electronics and IT, India wants to make USD 300 billion from electronics manufacturing by 2026.
  • According to India Brand Equity Foundation (IBEF), India exported USD 2,009.07 million worth of electronics in September 2022, up 71.99% year-over-year. Key export items in this industry include mobile phones, consumer electronics (TV and audio), IT hardware (laptops, tablets), industrial electronics, and auto electronics, supporting the market growth.
  • All the aforementioned factors are expected to drive the specialty gas market during the forecast period.
Specialty Gas Market : IT-ITeS Industry Exports, India, (USD billion), 2016-2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to be the fastest-growing specialty gas market during the forecast period due to the wide consumption of specialty gases in the electronics, automotive, healthcare industries, etc., which are among the booming sectors in the region.
  • Electronic products in the region have the highest growth rates in the consumer electronics segment of the market in terms of demand. With the increase in the disposable incomes of the middle-class population, the demand for electronic products is projected to increase steadily, thereby driving the market studied.
  • According to the National Bureau of Statistics (NBS) of China, the overall profit of China's electronics manufacturing businesses increased by 38.9% year-on-year in 2021, thus positively impacting the market's growth.
  • Furthermore, according to Japan Electronics and Information Technology Industries Association (JEITIA), the overall production value of the Japan electronics sector increased by almost 10% to around USD 100 billion in 2021. The sector includes electronic devices and components, as well as consumer and industrial electronic equipment.
  • Additionally, the expansion of the automotive segment in China is anticipated to benefit the demand for specialty gas. According to the International Organization of Motor Vehicle Manufacturers (French: Organisation Internationale des Constructeurs d'Automobiles) (OICA), China is the largest producer of automobiles. The country alone produced 2,60,82,220 units of vehicles in 2021.
  • Thus, the rising demand from various industries is expected to drive the market in the region during the forecast period.
Specialty Gas Market : Growth Rate by Region, 2021-2026

Specialty Gas Industry Overview

The specialty gas market is partially consolidated in nature. Some of the players in the market are Linde plc, Air Liquide, Messer Group GmbH, Showa Denko K.K., and Air Products and Chemicals, Inc.

Specialty Gas Market Leaders

  1. Air Liquide

  2. Messer Group GmbH


  4. Linde plc

  5. Air Products and Chemicals, Inc.

*Disclaimer: Major Players sorted in no particular order

Market Concentration.png

Specialty Gas Market News

  • February 2023: Linde announced a long-term arrangement with OCI to supply clean hydrogen and other industrial gases to the company's new world-scale blue ammonia factory in Beaumont, Texas. Linde will construct, own, and manage an on-site complex that will supply OCI's 1.1 million tons of blue ammonia production with clean hydrogen and nitrogen per year. Linde will provide clean hydrogen to OCI by sequestering more than 1.7 million tons of CO2 emissions yearly.
  • February 2023: Air Products (a major gas separation and purification membrane producer) introduced its new product- PRISM InertPro Nitrogen Membrane System- at the Middle East Oil and Gas Show in Bahrain. The PRISM InertPro is a new nitrogen membrane system for the energy and oil and gas industry that is based on an innovative, flexible modular platform providing nitrogen systems exhibiting world-class efficiencies.

Specialty Gas Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Wide Applications in the Electronics Industry

      2. 4.1.2 Increasing Demand from the Healthcare Sector

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations and Restrictions on Specialty Gas Production and Quality Control

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 High-purity Gases

      2. 5.1.2 Noble Gases

      3. 5.1.3 Carbon Gases

      4. 5.1.4 Halogen Gases

      5. 5.1.5 Other Types

    2. 5.2 End-User Industry

      1. 5.2.1 Automotive

      2. 5.2.2 Electronics

      3. 5.2.3 Medical and Healthcare

      4. 5.2.4 Food and Beverage

      5. 5.2.5 Oil and Gas

      6. 5.2.6 Other End-User Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Aregentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Air Liquide

      2. 6.4.2 Air Products and Chemicals, Inc.

      3. 6.4.3 Coregas

      4. 6.4.4 Iwatani Corporation of America

      5. 6.4.5 Linde plc

      6. 6.4.6 MESA Specialty Gases & Equipment

      7. 6.4.7 Messer Group GmbH

      8. 6.4.8 Mitsui Chemicals, Inc.

      9. 6.4.9 Norco Inc.

      10. 6.4.10 SHOWA DENKO K.K.


      12. 6.4.12 ILMO Products Company

    5. *List Not Exhaustive

    1. 7.1 Use in the Pharmaceutical or Biotechnology Sector

**Subject to Availability

Specialty Gas Industry Segmentation

Specialty gases are gaseous substances of high purity and can be used in industrial processes as analytical lab gases and intermediates. These gases are essential to many sectors, including the healthcare, petrochemical, environmental, pharmaceutical, semiconductor, and chemical markets.

The specialty gas market is segmented by type, end-user industry, and geography. Based on type, the market is segmented into high-purity gases, noble gases, carbon gases, halogen gases, and other types. Based on the end-user industry, the market is segmented into automotive, electronics, healthcare, food and beverage, oil and gas, and other end-user industries. The report also covers the market size and forecasts for specialty gas in 15 countries across major regions.

For each segment, the market sizing and forecasts have been done based on revenue (USD million).

High-purity Gases
Noble Gases
Carbon Gases
Halogen Gases
Other Types
End-User Industry
Medical and Healthcare
Food and Beverage
Oil and Gas
Other End-User Industries
South Korea
Rest of Asia-Pacific
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Specialty Gas Market Research FAQs

The Specialty Gas Market is projected to register a CAGR of greater than 4% during the forecast period (2023-2028).

Air Liquide, Messer Group GmbH, SHOWA DENKO K.K., Linde plc and Air Products and Chemicals, Inc. are the major companies operating in the Specialty Gas Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Specialty Gas Market.

Specialty Gas Industry Report

Statistics for the 2023 Specialty Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Specialty Gas analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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