India Specialty Gases Market to Grow at over 12% CAGR between 2017-2026
Rapid economic development and industrialization
coupled the growth in automobile and healthcare sectors is expected to drive
the demand for specialty gases during the forecast period.
According to a recently published TechSci Research report “India
Specialty Gases Market By Type, By Application, By Distribution,
Competition Forecast and Opportunities, 2012-2026”, the Indian market for specialty gases will grow at a CAGR of more
than 12% by value during 2017-2026. Specialty gases are ultra-pure gases or
minor gases used in specific quantities and proportions for specialised
operations in various end user applications. Owing to their unique properties
and nature, specialty gases find use in many industries, improving the
production process, optimizing operations, improving efficiency and reducing
labour time, thus bringing down the overall cost. The two key segments set to
drive the specialty gases market in the country are metal & mining and
healthcare. Healthcare sector has shown high growth, with healthcare spending
in India expected to reach $ 250 billion by the year 2020. Indian mining sector
too, which contributes around 2.5% to the GDP, is growing robustly, and thereby
boosting demand for specialty gases in the country. Given the popularity of government
schemes, which will boost demand for various metals, such as Make in India
initiative, India specialty gases market is expected to grow at a fast pace
over the forecast period.
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https://www.techsciresearch.com/report/india-specialty-gases-market-by-type-noble-gases-high-purity-gases-hydrocarbon-gases-halogen-gases-and-others-by-application-energy-power-metal-mining-healthcare-etc-by-distribution-packaged-and-bulk-competition-forecast-and-opportunities/1088.html
In terms of regions, West and
North regions dominated the India specialty gases market, owing to the level of
industrialization, with automobile companies such as Fiat India Automobiles Limited, Mahindra & Mahindra, Maruti
Suzuki, etc. setting up their factories in these two regions. Energy &
Power and Metals & Mining were the leading demand generators for specialty
gases, primarily due to their extensive usage of specialty gases in various
industrial processes. Noble gases and high purity gases were the leading
segments in the India specialty market. Noble gases find use in halogen lights,
illuminated billboards, flat panel televisions, etc. and high purity gases are
majorly used for sparging, blanketing and purging purposes in food industry and
as a carrier gas in the semiconductor industry.
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“India specialty gases market is on the rise due to rising
developments in iron & steel industry which is the major consumer of specialty
gases in India. The major market for specialty gases is driven by growth in steel,
chemical & petrochemical and healthcare industry, which are exhibiting a
consistent uptrend in India. These developments are expected to positively
influence specialty gases market in India over the course of next five years.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Specialty
Gases Market By Type, By Application, By Distribution, Competition Forecast and
Opportunities, 2012-2026” has evaluated the India specialty gases market and has provided
the statistics and information on market structure, industry behavior and trends.
The report includes market projections and demand forecasting. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with strategic recommendations for India specialty gases market.
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