Specialty Gases Market is Expected to Grow at a CAGR of 5.88% by 2030| ChemAnalyst

According to ChemAnalyst report, “Specialty Gases Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Specialty Gases market witnessed a strong demand in the past five years and is projected to achieve a CAGR of 5.88% through 2030 due to increasing demand that is expected to grow from 1.85 million tons in 2020 to 3.31 million tons by 2030 owing to increasing consumption of specialty gases like Carbon, Hydrogen, among others in end user industries such as electronics and healthcare.

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Specialty gases are highly pure gases, may consist of a single gas or be a mixture of many gases blended in a cylinder. They can be utilized as analytical lab gases as well as intermediates in production processes. These gases are used for specific purpose only that’s why are termed as specialty gases. Specialty Gases are primarily categorized into pure gases and gas mixture. Specialty gases market is driven by their wide range applications such as Electronics industry, for applications such as LEDs, laser technology, photovoltaic products and in the fabrication of semiconductors. In medical & healthcare sector, it is used for Magnetic Resonance Imaging (MRI), reanimation procedures, ventilation purpose and others. It is also utilized in analytical and calibration applications for ensuring quality and processes ranging from monitoring the quality of foodstuffs to testing engines in automobiles, chemical processes, metallurgy or environmental monitoring along with other industrial applications such as use in welding, cutting, lighting for hardening, and marking, metal processing, and diving gear.

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