How Has the Gas Mixtures Market Size Evolved in Recent Years?
The gas mixtures market has seen considerable growth due to a variety of factors.
• There has been a significant growth in the market size of gas mixtures in recent years. The market, which is valued at $42.1 billion in 2024, is projected to escalate to $45.61 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.3%.
The expansion over the historical period owes much to factors including industrial growth, applications in healthcare, manufacturing of electronics, and legislative impetus in the environmental sector.
What are the Market Size and Expected Growth Rates for the Gas Mixtures Market?
The gas mixtures market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated substantial expansion is foreseen for the gas mixtures market in the coming years, with its value likely to reach $64.55 billion by 2029, expanding at a compound annual growth rate (CAGR) of 9.1%.
This escalation during the projection period is connected to factors like renewable energy, advancing technologies, and global expansion. Trends to watch in this forecast period encompass tailor-made gas mixtures, research and development, innovation, as well as hybrid and electric vehicles and collaboration initiatives.
What Are The Essential Drivers Behind The Growth Of The Gas Mixtures Market?
The surge in demand for electronics goods is anticipated to spur the expansion of the gas mixtures market. Electronic goods encompass software items accessible via electronic means. These gas combinations are utilized in microelectric production and semiconductor processing applications, such as thin film deposition, as well as insulation applications. For example, as per the Semiconductor Industry Association (SIA), a US-based trade association, semiconductor sales amounted to $574.1 billion in 2022, marking a 3.3% rise in comparison to the $555.9 billion figure in 2021. Therefore, it's clear that the escalating demand for electronic goods is catalyzing the development of the gas mixtures market.
How Is The Global Gas Mixtures Market Divided Into Key Segments?
The gas mixtures market covered in this report is segmented –
1) By Mixture: Oxygen Mixtures, Nitrogen Mixtures, Carbon Dioxide Mixtures, Argon Mixtures, Hydrogen Mixtures, Specialty Gas Mixtures, Other Mixtures
2) By Manufacturing Process: Air Separation Technology, Hydrogen Production Technology, Other Manufacturing Process
3) By Storage, Distribution, And Transportation: Cylinder And Packaged Distribution, Merchant Liquid Distribution, Tonnage Distribution
4) By End-Use Industry: Metal Manufacturing And Fabrication, Chemicals, Medical And Healthcare, Electronics, Food And Beverage, Other End-Users Industries
Subsegments:
1) By Oxygen Mixtures: Medical Oxygen Mixtures, Industrial Oxygen Mixtures, Specialty Oxygen Mixtures
2) By Nitrogen Mixtures: Nitrogen With Hydrogen Mixtures, Nitrogen With Oxygen Mixtures, Nitrogen With Argon Mixtures
3) By Carbon Dioxide Mixtures: Food And Beverage CO2 Mixtures, Industrial CO2 Mixtures, Laboratory CO2 Mixtures
4) By Argon Mixtures: Argon With Carbon Dioxide Mixtures, Argon With Oxygen Mixtures, Argon With Helium Mixtures
5) By Hydrogen Mixtures: Hydrogen With Nitrogen Mixtures, Hydrogen With Helium Mixtures, Hydrogen With Oxygen Mixtures
6) By Specialty Gas Mixtures: Calibration Gas Mixtures, Environmental Gas Mixtures, Research And Development Gas Mixtures
7) By Other Mixtures: Rare Gas Mixtures, Neon Mixtures, Krypton Mixtures, Xenon Mixtures
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What Trends Are Reshaping The Future Of The Opportunities Market?
The gas mixture market is increasingly witnessing the rise of product innovation as a significant trend. Major players in the market are channeling their efforts into creating new products to solidify their market positions. In an example from January 2022, SuperFlash LLC, a competitor from the US in the gas mixtures sector, launched a compact, mobile gas analyzer known as the GA300. The GA300 caters to systems that don't have an inbuilt analyzer and can conduct complex gas mixture analyses crucial to processes like food, beverage, and various industrial manufacturing applications. The product stands out with its portability, lightweight, durability, low maintenance, user-friendly menu option, and a digital LCD screen enabling constant gas mixture monitoring. Remarkably, it can monitor up to 10 binary gas mixtures.
Who Are the Key Players in the Gas Mixtures Market?
Major companies operating in the gas mixtures market include:
• Linde PLC
• The Messer Group GmbH
• Welsco Inc.
• Air Liquide S. A
• NexAir LLC
• Advanced Specialty Gases Inc.
• Air Products and Chemicals Inc.
• Solvay SA
• Iwatani Corporation
• Nippon Sanso Holdings Corporation
• Kanto Denka Kogyo Co. Ltd.
• Matheson Tri-Gas Inc.
• Gas Innovations
• Weldstar Company
• Gasco Affiliates LLC
• Ideal Calibrations
• EGas Depot
• Worthington Industries Inc.
• Showa Denko K. K.
• Ube Corporation
• Gas-Tech Corporation
• Bharat oxytech Pvt. Ltd.
• Mahler AGS
• Sinogas Management Pte Ltd.
• Henan Tian Lun Gas Group Ltd.
• Aims Oxygen Pvt. Ltd.
What are the Regional Insights into the Gas Mixtures Market?
North America was the largest region in the gas mixtures market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas mixtures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
