PUNE, India, December 2, 2015 /PRNewswire/ --
The report "High Purity Gas/Ultra High Purity Gas/Pure Gas Market by Product (High Atmospheric Gases, Noble Gases, Carbon Gases, Others), Manufacturing Process, Function, End-Use Industry, Storage & Distribution & Region - Global Forecast to 2020" published by MarketsandMarkets, The High Purity Gases Market size is estimated to grow from USD 20,836.6 Million in 2015 to USD 28,164.0 Million by 2020, at a CAGR of 6.2% from 2015 to 2020.
Browse 161 market data Tables and 59 Figures spread through 213 Pages and in-depth TOC on "High Purity Gas/Ultra High Purity Gas/Pure Gas Market"
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The market has been segmented on the basis of major regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW), wherein their value and volume has been projected. The size of the markets in key countries has also been covered and projected.
Growing demand in the electronics and metal production sectors are the major drivers
The global High Purity Gases Market is driven by factors which include strong growth in sectors such as the electronics and metal production industries among others. High demand from chemical and automotive advancements in terms of product innovations and technologies in the market are expected to create strong investment opportunities. Regulatory and structural instructions are expected to be the strongest restraints for the industry. High cost of gas processing is the major challenge, whereas fluctuating demand patterns and advancements of alternative technologies are projected to be the burning issues for the market.
Noble gases to contribute maximum market share
The noble gases segment is projected to be the largest market for the global High Purity Gases Market. It covers a variety of applications, including arc welding and cutting, as well as in the production of titanium, zirconium, and other metals. It is also used as lifting gas in balloons, as a coolant in nuclear reactors, and for growing germanium and silicon crystals for transistors
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China is expected to attain the largest market share in the Asia- Pacific High Purity Gases Market
China is expected to have the largest market share and dominate the Asia- Pacific High Purity Gases Market from 2015 to 2020. The growing economy, rising metal production and electronics market exhibits high potential growth opportunities for the High Purity Gases Market in China.
The major players include Praxair Inc. (U.S.), Airgas Inc. (U.S.), The Linde Group (Germany), Air Liquide S.A. (France), and Air Products and Chemicals Inc. (U.S.). Other players in this market include Iwatani Corporation (Japan), Messer Group (Germany), Iceblick Ltd. (Ukraine), Matheson Tri-Gas Inc. (U.S.), and Advanced Specialty Gases Inc. (U.S.). Companies have adopted organic growth strategies such as mergers and acquisitions to cope with the increasing demand in the emerging markets.
The scope of the report covers detailed information regarding the major factors influencing the growth of the High Purity Gases Market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, and recent developments associated with the market.
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