High Purity Gas Market worth $48.57 billion in 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Oct. 18, 2024 /PRNewswire/ -- The report "High Purity Gas Market by Type (High Atmospheric Gas, Noble Gas, Carbon Gas), Storage & distribution and Transportation, Function, Manufacturing Process, End-use Industry, and Region - Global Forecast to 2029", size is expected to reach USD 48.57 billion in 2029 from USD 34.62 billion in 2024, at a CAGR of 7.0% from 2024 to 2029.

The demand for high purity gas is driven by rising advancement in technologies, growing investments, government initiatives and increasing focus towards sustainability. High purity gases include high atmospheric gases, noble gases, and carbon gases that are used in wide range of applications where precision and purity is critical. These gases are produced through air separation technology, and hydrogen production method which are then distributed to numerous industries through various delivery systems. High purity gases are also used as an insulator, illuminator, and coolant in electronics, semiconductor, and food & beverages industry.

Browse in-depth TOC on "High Purity Gas Market"

396 – Tables

69 – Figures

323 – Pages

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Noble gas segment is expected to grow with highest CAGR in high purity gas market during the forecasted period.

The high purity gas market is segmented based on the type into high atmospheric gas, noble gas, carbon gas and other gases. Noble gases are high purity gases that are non-reactive and non-flammable. Helium, argon, and neon are the three major noble gases that are used in lighting, welding, food preservatives, and medical applications. The demand for these high purity noble gases is rising due to its heavy usage in gas chromatography and metal production industry. Recently, membrane separation technology is mostly used for the separation of noble gases from gas mixtures. This growing innovative process is likely to unlock the potential of membrane based noble gases for wide range of end-use industries.

Cylinders/packaged gas segment is expected to grow with highest CAGR in high purity gas market during the forecasted period.

The high purity gas market is segmented based on storage & distribution and transportation. In recent years, the use of cylinders/packaged gas as a delivery system has surged in many high purity gas manufacturing companies. Cylinders/packaged gas are made of robust materials and are designed to withstand high pressures, ensuring safe storage and transportation of high purity gases. Moreover, packaged gas cylinders are easier to transport, and handle as compared to bulk gas systems. Due to its lower transportation costs and improved delivery systems the demand for cylinders/packaged gas is rising in various industries.

Air separation technology segment is expected to have largest share during forecasting period in terms of value.

Air separation technology is the most cost-effective technology used to produce ultra-high purity (UHP) nitrogen, oxygen, or the "rare gases" like neon, krypton, and xenon. There are two methods for air separation: cryogenic separation and non-cryogenic separation. Cryogenic separation is the most used method for producing high purity gases at large scale and can achieve high levels of purity up to 99.99% as compared to non-cryogenic separation. The demand for this technology is increasing in metal production and electronics industry due to its simple installation, ease of operation, and capacity to produce high purity gases.

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Coolant segment is expected to have third largest share during forecasting period, both in terms of value and volume during the forecast period.

The demand for high purity gases as a coolant is rising mostly in food & beverages industry. High purity gases such as nitrogen, argon, helium, carbon dioxide, hydrogen are used as a cooling agent in wide range of applications. High purity nitrogen gas is used in food & beverages industry to avoid contamination of perishable products such as dairy products, bakery products, and fruits & vegetables. It is also used in electronics industry for enhancing the performance and longevity in electronic devices by maintaining the optimal temperature.

Chemicals segment is expected to have third largest share during forecasting period, both in terms of value and volume during the forecast period.

The demand for high purity gases such as oxygen, nitrogen is rising in chemicals industry due to its wide range of applications. High purity oxygen is used in laboratories, gas-cooled nuclear reactors, gas-cooled nuclear reactors, metal analysis instruments, and in semiconductor and optical fibre production to increase the efficiency of oxidation reactions. High purity nitrogen is used as a pressurizing gas, as it propels the liquids through pipelines It has wide range of applications in chemicals industry including inerting and blanketing, reactor cooling, nitrogen stripping & recovery. It is also used to shield oxygen-sensitive materials from the air and to remove volatile organic chemicals from process streams.

Asia Pacific region is expected to registered highest CAGR both in terms of value and volume during forecasted period.

The high purity gas market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

The Asia Pacific high purity gas market is experiencing explosive growth, due to strong demand of high purity gases in various end-use industries. Advancements in technologies, rapid urbanization, growing investments, and government initiatives is driving the demand for high purity gases in this region. Countries like China, Japan, and India are witnessing significant growth in electronics industry due to increasing consumption of consumer electronics, and presence of large number of electronics manufacturers that are using high purity gases in electronic devices. Various government initiatives have been taken to transform the electronics industry and promote semiconductor production by focusing on innovation and high-tech manufacturing process.

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Key players

Prominent companies include Linde Plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Iwatani Corporation (Japan), Messer SE & Co. KGaA (Germany), Matheson Tri-Gas Inc. (US), Daigas Group (Japan), Nippon Sanso Holdings Corporation (Mitsubishi Chemical Group Corporation, Japan), SOL India Private Limited (India), Ingas (Ukraine), Gruppo SIAD (Italy), Resonac Holdings Corporation (Japan), LLC "Akela-N"(Russia), Alchemie Gases & Chemicals Pvt. Ltd. (India), Bhuruka Gases Limited (India), Chemix Specialty Gases and Equipment (India), Ultra-Pure Gases (I) Pvt. Ltd. (India), Coregas (Australia), Seralgaz (Turkey), PurityPlus (US), Woikoski Oy (Finland), Specialty Gases Company Limited (Saudi Arabia), Amar Gases (India), Qingdao Baigong Industrial and Trading Co., Ltd. (China)and among others.

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