Market Trends of High Purity Gas/Ultra-high Purity Gas/Pure Gas Industry
This section covers the major market trends shaping the High Purity Gas Market according to our research experts:
Noble Gas Product Type to Dominate the Market
- Currently, the noble gas product type has contributed to the highest to the market share in the high purity gas/ultra high purity gas/pure gas market.
- A noble gas, such as helium, argon, and krypton are used for a wide range of applications in the insulation and lighting applications.
- Helium is used for cryogenic rocket propellants in space and missile applications, metal production and nuclear reactors. It is also used in welding, lifting gas in balloons and fluorescent lamps and electronic tubes.
- Hence, owing to the growing demand from end-user industries, noble gas product type is likely to dominate the market studied during the forecast period.
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Asia-Pacific to Witness the Highest Growth Rate
- The Asia-Pacific region is the most attractive market for high purity gases owing to the mass production of electronics devices in China and India.
- The growth of this region is supplemented by the government policies to increase semiconductor production in the region.
- For instance, the Chinese government is aiming to rise up major investments in domestic chip companies to build a world-class semiconductor industry, which is likely to propel the growth of the market studied during the forecast period.
- Additionally, there has been increasing demand for high purity gas from the southeast Asain countries in the recent past for usage in industries like electronics, chemicals, energy& power, etc..
- Hence, owing to the above-mentioned reasons, Asia-Pacific is likely to witness the highest growth rate during the forecast period.
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