Technavio Announces the Publication of its Research Report Global Specialty Gases Market 2017-2021
Technavio recognizes the following companies as the key players in the global specialty gases market: Air Liquide, Air Products and Chemicals, Linde, Messer, and Praxair.
Other Prominent Vendors in the market are: Advanced Gas Technologies, Advanced Specialty Gases, Maine Oxy, Norco, Showa Denko K.K., Taiyo Nippon Sanso, and Welsco.
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Commenting on the report, an analyst from Technavios team said: The latest trend gaining momentum in the market is innovations in storage design and packaging. Most specialty gases are packaged in cylinders at pressures of up to 300 barometers and are supplied to end-uses in volume variants of 1-50 liters. These cylinders are made of high-strength steel and aluminum to withstand high pressures, avoid leakages, and ensure maximum safety throughout transportation and storage. Distribution of specialty gases through this route is a cost-intensive process as transportation of these heavy cylinders incurs a large amount of energy in terms of fuel and packaging.
According to the report, one of the major drivers for this market is booming pharmaceutical and healthcare sectors. The global healthcare sector is primarily driven by changing lifestyles, aging population, unhealthy eating habits, and increased occurrence of chronic diseases across the globe. Specialty gases are an imperative part of the pharmaceutical industry. Pharma grade specialty gases are expected to be highly compliant with pharmacopeia standards.
Further, the report states that one of the major factors hindering the growth of this market is stringent safety legislation. Many of the specialty gases are defined as hazardous, toxic, carcinogenic, flammable and are stored at high pressure. This is a potential threat that puts the personnel working in this environment under a constant risk. Stringent safety legislation affects all facets of specialty gas manufacturing, right from product classification and labeling, registration, packaging and transportation, storage, product information, and product disposal.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Specialty Gases
Specialty gases are a class of high-purity gases that require precise blending of component gases in a gas mixture. To obtain high quality with minimal impurities, specialized preparation methods and laboratory analysis are incorporated to quantify the component gases within the mixture of gases. High-tech production processes, instrumentation, and analytical measurements require fewer and lower impurities for minimal interference in the process. Specialty gases are generally used in their purest form.
Technavios analysts forecast the global specialty gases market to grow at a CAGR of 6.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global specialty gases market for 2017-2021. To calculate the market size, the report considers the sales of different types of specialty gases in key applications and revenue generated from the specialty gases market across regions.
The market is divided into the following segments based on geography:
Technavio’s report, Global Specialty Gases Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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