The global high purity gases market was valued at USD 19,741.7 Million in 2014, and is projected to grow at a CAGR of 6.2% from 2015 to 2020. The increasing demand in various applications such as metal production, oil & gas, chemical, electronics, medical & healthcare, and food & beverage are the major factors driving the growth of the high purity gases industry. Additionally, with rapid urbanization, growth in infrastructural activities, and increasing industrialization across the globe, there is a rapidly increasing need for high purity gases. The noble gases segment is the fastest-growing segment on the basis of product.

The high purity gases industry is increasing proportionally with the overall industrial gas industry. The development of economies plays an essential role in increasing the demand for high purity gases in the global market. High purity gases are used in industries such as electronics, metal production, chemical, and oil & gas among others for functions such as insulation, illumination, and cooling.

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End User:

Metal production
Oil & gas
Chemical
Electronics
Medical & healthcare
Food & beverage
Aerospace
Automotive
Laboratories
Glass
Diving
The market has been segmented broadly on the basis of product, manufacturing process, storage & distribution and transportation, function (insulation, illumination, and cooling), end-use, and region. The market drivers, restraints, opportunities, and challenges have been discussed in detail.

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Growing demand in the electronics and metal production sectors are the major drivers

The global high purity gases market is driven by factors which include strong growth in sectors such as the electronics and metal production industries among others. High demand from chemical and automotive advancements in terms of product innovations and technologies in the market are expected to create strong investment opportunities. Regulatory and structural instructions are expected to be the strongest restraints for the industry. High cost of gas processing is the major challenge, whereas fluctuating demand patterns and advancements of alternative technologies are projected to be the burning issues for the market.

Key Players:

The major players include Praxair Inc. (U.S.), Airgas Inc. (U.S.), The Linde Group (Germany), Air Liquide S.A. (France), and Air Products and Chemicals Inc. (U.S.). Other players in this market include Iwatani Corporation (Japan), Messer Group (Germany), Iceblick Ltd. (Ukraine), Matheson Tri-Gas Inc. (U.S.), and Advanced Specialty Gases Inc. (U.S.).

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