Global High Purity Gas Market to Register a Strong Growth during the Period of 2016 – 2024
Albany, New York, April 20, 2017: Market Research Reports Search Engine (MRRSE) has announced the addition of a new report, titled as “High Purity Gas Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”. The report states that the Global High Purity Gas Market is expected to expand rapidly during the period between 2016 and 2024 due to growing demand in the global industrial gas market.
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This report scans the global high-purity gases market to provide forecast about the market’s growth trajectory during the forecast period, based on comprehensive analysis of the present market trends and its past developmental history. Standard Industrial analytical tools such as SWOT analysis and Porter’s five forces analysis have been used in the study for the proper understanding of the market situation. Market dynamics such as market drivers, restraints, risks and opportunities have been duly analyzed in the report, along with the ongoing trend in the market.
According to the report, the electronics and industrial sector are the major end-user of high purity gases. Thus, the growth of the electronics and industrial sector in developing countries is a major growth driver of this market in these regions. However, a major restraint is the high cost of gas processing. This is due to the high technological complexity of the air separation procedure, which is the most common procedure for the production of high purity gases.
Moreover, according to the report, cooling, insulation and illumination are the chief applications of high purity gases in the industrial sector. Atmospheric gases such as nitrogen and oxygen are the most extensively used high purity gases in industries. However, in the next few years, high purity noble gases are likely to dominate the global high-purity gas market. The geographical regions covered in the report are as follows:
- North America
- Asia Pacific
- The Middle East and Africa
- South America
Among these, Asia Pacific has registered a rapid growth in the global high-purity gases market in a short time span and is likely to grow rapidly throughout the forecast period. North America is the most dominant market for high purity gases globally. However, it is the high growth rate in Asia Pacific that is likely to be a significant feature of the global market over the next few years.
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The high purity gases market is dominated by big players such as Airgas, Inc., Praxair, Inc. and Air Liquide S.A. Mergers and acquisitions have emerged as one of the major strategies for players to increase their business in the global market and to concentrate on developing countries to capitalize on the their impressive growth.
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