06-14-2024 12:45 PM CET |
Press release from: The Business Research Company
High Purity Methane Gas Global Market Report 2024
"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.
High Purity Methane Gas Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12.92 billion In 2028 At A CAGR Of 10.6% :
The high purity methane gas market size has grown strongly in recent years. It will grow from $7.35 billion in 2023 to $7.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrial applications, petrochemical industry requirements, research and development, gas chromatography and laboratory applications.
The high purity methane gas market size is expected to see strong growth in the next few years. It will grow to $10.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rise in semiconductor and electronics manufacturing, continued use in gas chromatography and laboratories, energy sector demand. Major trends in the forecast period include market innovation and r&d, expansion into new markets, safety and quality standards compliance, environmental concerns and regulations, healthcare and medical applications, advanced manufacturing processes.
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High Purity Methane Gas Market Major Segments
The high purity methane gas market covered in this report is segmented -
1) By Type: Chemical Synthesis, Heat Detection, Hydrogen Fuel, Other Types
2) By Distribution: On-site, Bulk (Liquid Gas Transport), Cylinder (Merchant)
3) By Application: Medical, Automotive, Defence, Electronics, Other Applications
Key Driver - Surging Demand For Electronic Products Drives Growth In The High-Purity Methane Gas Market
Growing demand for electronic products is driving the growth of the high-purity methane gas market. Electronic products are components that control the passage of electrical currents to process systems. These devices contain an electronic circuit that can generate or emit a physical radiation field while in operation. Consumer electronics has expanded and intersected with numerous businesses and sectors due to the development of new technology, including software, app development, robots, artificial intelligence, thus driving global consumer electronics growth. Such a surge in demand for consumer electronics devices has increased the need for the high-purity methane gas to produce materials for cells and other electrical devices. For instance, In December 2022, according to a market figure published by gfu Consumer and Home Electronics GmbH, a Germany-based consumer electronics company, stated that with $37.4 billion in sales in 2021, the consumer electronics segment is up 9.6% from $34.1 billion in 2021. Therefore, the growing demand for electronics products will propel the high-purity methane market.
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Prominent Trend - Technological Advancements Drive Innovation In High-Purity Methane Gas Market
Technological advancements are the key trend gaining popularity in the high-purity methane gas market. The market is witnessing the implementation of an advanced methane gas leak detection system. Major companies operating in the high-purity liquid gas market are focused on research and development for technological advancements tools and technology to strengthen their market position. For instance, in August 2022, NOVATEK-Yurkharovneftegas, a Russia-based gas company, announced an initiative to monitor methane leaks using unmanned aerial vehicles (""""UAVs""""). The project is part of the comprehensive environmental and climate change targets program, including constructing a multi-level leak detection system. It allows for more precise and faster observations compared to other monitoring methods.
High Purity Methane Gas Market Players
Major companies operating in the high purity methane gas market report are Air Liquide S.A, Axcel Gases, Bhuruka Gases Limited, Chemix Specialty Gases and Equipment, Chengdu Taiyu Industrial Gases Co. Ltd., CryoCarb, Taiyo Nippon Sanso Corporation, Wuhan Newradar Special Gas Co. Ltd., EFC Gases & Advanced Materials, Gas Innovation, Linde plc, Matheson Tri-Gas Inc., The Messer Group GmbH, Middlesex Gases & Technologies, Osaka Gas Co. Ltd., Scientific Gas Australia Pty Ltd., Advanced Specialty Gases, AGT SpA, Sumitomo Seika Chemicals Company, Air Products and Chemicals Inc., Praxair Inc., Airgas Inc., Air Water Inc., Iwatani Corporation, Electronic Fluorocarbons, Qingdao Guida Special Gas Co. Ltd., Cryostar SAS, Showa Denko K.K., American Welding & Gas, Green Methane s.r.l
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Largest And Fastest Growing Region In The Market
North America was the largest region in the high purity methane gas market in 2023. The regions covered in the high purity methane gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. High Purity Methane Gas Market Report Structure
3. High Purity Methane Gas Market Trends And Strategies
4. High Purity Methane Gas Market - Macro Economic Scenario
5. High Purity Methane Gas Market Size And Growth
…..
27. High Purity Methane Gas Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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This release was published on openPR.
