Growing demand from various end-use industries such as chemicals, electronics, automotive, food & beverages, and medical, is projected to drive the global market for high purity gases. Also, growing concerns regarding the quality of food and healthcare services across the globe is set to propel the market growth over the coming years. The global high purity gases market is likely to increase from USD 26.9 billion in 2019 to USD 40.2 billion by 2027, at a CAGR of 5.2% over the forecast period (2020-2027) according to QuantAlign Research.

High purity gases may be defined as gases that have a concentration of more than 99.99%. These include gases such as nitrogen, oxygen, and argon; hydrogen; carbon dioxide, carbon monoxide; nobel gases such as xenon and krypton neon, helium; and other organic and inorganic gases. High purity gases are mainly used in applications where purity is highly essential. To ensure that the properties are fully utilized, high purity gases are distributed at high concentration without the addition of other gases.

Furthermore, high purity gases are increasingly being used in LED manufacturing. High purity gases such as hydrogen, nitrogen and ammonia are used in the manufacturing process of LED chips. Among these ammonia and hydrogen account for the largest portions of costs and form majority of the atmosphere in which the crystal layers are grown. Therefore, the availability of routine and stable supply of high purity gases is a prerequisite for a high volume LED manufacturing facility as their purity is critical to the performance and quality of LED devices.  However, high processing costs as well as stringent government regulations may restrain the market growth.

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Global High Purity Gases Market Perspective, Demand Outlook, COVID-19 Impact, Trend Analysis By Manufacturing Process(Air separation, Hydrogen reforming), By Type, By Function (Insulation, Coolant, Illumination), By Application and Industry Estimates 2020-2027-  “https://quantalignresearch.com/global-high-purity-gases-market-report “

Key insights: 

• Nobel gas segment dominated the global market in 2019 and is expected to witness a healthy CAGR during 2020 to 2027
• Air separation segment is projected to account for a significant share of the global market by 2027
• Electronics segment held the major share of the market in 2019, while witnessing a significant CAGR during 2020 – 2027
• North America held the majority share of the global market in 2019, whereas Asia-Pacific is expected to witness considerable growth over the forecast period.

Key players operating in the market include Praxair Technology, Inc.; Air Liquide; The Linde Group; Messer Group GmbH; Iwatani Corporation; Air Products and Chemicals, Inc.; Osaka Gas Liquid Co., Ltd.; Matheson Tri-Gas, Inc.; & Advanced Specialty Gases; among others..