Pune, India -- (SBWIRE) -- 08/09/2018 -- High Purity Gas Market – Overview
High Purity Gas are find usage in some of the end use application such as electrical & electronics, pharmaceutical, automotive, and others. The High Purity Gas market is projected to witness significant growth on account of increasing demand for cooling, insulation, and illumination along with excellent usage in various end use industries specifically in pharmaceutical, electrical & electronics, automotive, and others. Electronics is predicted to be the fastest growing application segment in 2016 and is estimated to witness healthy growth on account of their dominance due to continuous expansion of electronics industry in emerging economies. The factors attributed to the High Purity Gas Market growth are expanding pharmaceutical industry in developing countries, growing expenditure on healthcare, and continuous growth of automotive industry. Furthermore, increasing per capita disposable income combined with rising spending on smart phones and electronics products has raised the consumption of High Purity Gases which in turn has propelled the demand for high purity gas over the assessment period.
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Regionally, Asia Pacific is estimated to hold the largest High Purity Gas Market share in 2016 which is followed by Europe and further trailed by North America. In North America the High Purity Gas Market is estimated to exhibit steady growth during the assessment period on account of increasing awareness regarding the benefits associated with product along with raised consumption in end use industries in this region. Asia Pacific is predicted to witness above average growth over the forecast period in High Purity Gas Market due to growing application of High Purity Gas in various end use industries segment. In Asia Pacific, the demand for High Purity Gas is expected to enhance in numerous countries such as the Philippines, Taiwan, China, India, Japan, South Korea, and Indonesia due to rising population along with shifting of production facilities for most of the major operating players in this region. In Europe, High Purity Gas Market is expected to register moderate growth due to shifting end user preference towards the High Purity Gas combined with high adoption rate in pharmaceutical, automotive, and electronics end use industries specifically in Germany, Poland, Spain, UK, France, Italy, Belgium, and Russia.
Industry/ Innovation/ Related News:
July 2016- Air Products announced that the company will build a new plant in eastern China to provide high purity gases used in the semiconductor industry. This strategic move helped company to meet the increasing demand for high purity gases in Asia Pacific.
March 2018- Showa Denko expanded capacity for their high purity hydrogen bromide plant. This expansion helped company to fulfil the ongoing demand of high purity HBr in semiconductor industry.
January 2018- Praxair, Inc., a leading supplier of high purity gases announced to establish a long term contract with an electronics manufacturer in Shanghai, China. To build air separation plants which will supply high purity oxygen and nitrogen. This strategic move will help company to serve electronics consumers in China and across the globe.
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The High Purity Gas Report has analysed the degree of competition among the major producers in High Purity Gas Market as well as sector growth and market scenario. The Global High Purity Gas Market comprises of broad range of suppliers operating in the market which consists of medium level and large scale suppliers. Key manufacturers of High Purity Gas which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high level suppliers belongs to this province specifically from Japan, Australia, China, India, South Korea, the Philippines, Malaysia, Taiwan, and Thailand. Furthermore, the manufacturers of High Purity Gas are observed to follow various strategic plans to enhance their product portfolio such as distribution agreements, joint ventures, mergers, product launches, strategic acquisition, and exclusive agreements. The prominent manufacturers in this market are expected to enhance their manufacturing capacity of High Purity Gas to meet the rising demand for high purity gas worldwide.