Rising yield improvement, cost reduction and performance enhancement demand in the end-use industries is projected to drive the global specialty gas market over the next six years. Automotive, healthcare, semi-conductors, electronics, academics and manufacturing are major specialty gas end-use industries. Increasing innovative specialty gas applications demand in plasma displays and photovoltaic cells are touted to aid the global market over the forecast period. Growing healthcare industry in Japan and U.S. characterized by aging population is expected to further aid in market growth and development. Threat of substitutes coupled with stringent regulations & guidelines is anticipated to challenge the global market growth.
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Plethora of end-use industries promises continuous opportunities for the industry participants. Massive infrastructure opportunities in Asia Pacific and Latin America promise abundant opportunities for the market participants. Brisk increase in automotive and electronics consumption in the emerging regions offers rich opportunities for the market over the next six years.
North America dominated the global specialty gas market over the recent years, followed by Europe and Asia Pacific. Healthcare industry is expected to take rapid strides in North America owing to its surge in aging population. Asia Pacific is presumed to witness significant growth due to fervent development in automotive, manufacturing and electronics industries.
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Frequent M&As and strategic alliances offer ample opportunities in the global in the specialty gas market for the industry participants. Prominent specialty gas industry participants include Praxair Inc., Linde Group, Amrican Air Liquide Holdings, Air Liquide, Air Products and Chemicals Inc., Airgas Inc. and Taiyo Nippon Sanso Corporation.
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