Market Size of Specialty Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
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.
