Asia Pacific Electronic Gases Market to Grow with a CAGR of 3.78% through 2028
Surge in research and development activities is expected to drive the Asia
Pacific Electronic Gases Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Asia Pacific
Electronic Gases Market– By Region, Competition, Forecast and Opportunities,
2018-2028F”, the Asia Pacific Electronic Gases Market stood at USD3.15
billion in 2022 and is anticipated to grow with a CAGR of 3.78% in the forecast
period, 2023-2028. The initiatives taken by government based on electronic
gases has led to favorable market conditions for the Asia Pacific Electronic
Gases Market. Several factors contribute to the growth of various electronic
gases market products.
The
International Monetary Fund (IMF) emphasizes the crucial role fiscal policy can
play in addressing climate change in Asia. To combat the environmental
challenges, governments could consider implementing measures like imposing
carbon taxes or offering incentives to industries that actively reduce their
greenhouse gas emissions, including those associated with electronic gases.
These efforts would contribute to a sustainable future by encouraging
eco-friendly practices and fostering a greener economy.
Amazon Web
Services (AWS) proposes that governments in the Asia-Pacific region adopt
cloud-first policies as part of their strategy to decarbonize their economies.
By prioritizing the use of cloud technologies, countries can reduce their
reliance on traditional, energy-intensive IT infrastructure. This shift towards
cloud-based solutions not only promotes environmental sustainability but also
indirectly impacts the electronic gases market by mitigating the demand for
conventional IT setups. Embracing cloud-first policies can catalyze the
transition to a more efficient and eco-conscious digital landscape.
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In recent years,
the industrial manufacturing and construction sectors have experienced a
significant surge in research and development (R&D) activities, which in
turn has contributed to the remarkable growth of the electronic gases market.
These sectors heavily rely on a diverse range of industrial gases for a myriad
of applications, including but not limited to welding, cutting, and heat
treatment processes. With ongoing innovation and advancements in these sectors,
the need for high-quality and specialized gases has become even more crucial,
thereby further intensifying the demand for electronic gases. This growing
demand underscores the pivotal role that electronic gases play in supporting
the ever-evolving needs of the industrial manufacturing and construction
industries.
The Asia Pacific
Electronic Gases Market is segmented into type, application process, regional
distribution, and company.
Based on its type, the specialty electronic gases segment
held the largest share in the market. The growth of related industries, such as
the automotive sector, telecommunications, and consumer electronics,
significantly contributes to the increasing demand for specialty electronic
gases. With the automobile industry increasingly relying on electronics and
semiconductors for advanced features and functionalities, the demand for these
gases continues to surge. As more industries and sectors embrace technological
advancements, the need for specialty electronic gases becomes even more crucial
to support their operations and innovations.
Based on region, China segment is expected to grow
during the forecast period.
In recent years, China has been actively ramping up
its domestic production of natural gas, recognizing the importance of meeting
the surging demand. Moreover, in order to ensure a diversified supply chain,
China has been exploring various import sources. This strategic move not only
satisfies the increasing demand for natural gas but also plays a significant role
in fueling the growth of the electronic gases market. As natural gas serves as
a primary component in the production of electronic gases, this upward
trajectory in demand creates favorable conditions for the expansion and
development of the electronic gases industry.
Major companies operating in
Asia Pacific Electronic Gases Market are:
- Taiyo Nippon Sanso Corporation (TNSC)
- Praxair India Pvt Ltd
- Air Products PLC
- Air Liquide International SA
- Linde PLC
- Yingde Gases Group Company
- Sumitomo Seika Chemicals Co., Ltd.
- Hangzhou Hangyang Co., Ltd.
- Suzhou Jinhong Gas Co., Ltd.
- Showa Denko Electronics KK
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“Growing application of electronic gases in various
end user industries are key drivers of the electronic gases market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of electronic gases with every
passing year are anticipated to register an impressive growth to Asia Pacific
Electronic Gases Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Electronic Gases Market By Type (Specialty
Electronic Gases, Bulk Electronic Gases), By Application Process (Deposition,
Etching, Doping & Lithography, Others), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Asia Pacific Electronic Gases Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Asia Pacific Electronic Gases Market.
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