High Purity Methane Gas Market Size Is Estimated To Grow With A During Forecast 2020 – 2030
The new study report titled, “High Purity Methane Gas Market Share, Size, Trends, Industry Analysis Report, By End-Use (Automotive, Chemical, Oil & Gas, Electronics, Industrial, Medical); By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
“According to the research report published by Polaris Market Research, the global high purity methane gas market size is expected to reach USD 9.26 billion by 2028 according to a new study by Polaris Market Research.”
Growing adoption of hydrogen as a clean fuel, increasing need to reduce carbon emissions, and depleting fossil fuels have increased the demand for high purity methane gas across the globe. Increasing adoption of alternative fuel vehicles and growing application in semiconductor manufacturing and production of electronic devices has further resulted in greater demand for the product. However, the outbreak of COVID-19 has hampered the growth of industries such as transportation, energy and power, and electronics, thereby impacting the market for the product. The pandemic has resulted in operational challenges, logistic slowdown, disruption of the supply chain, and workforce impairment, negatively impacting the market.
The application segment has been divided into heat detection, chemical manufacturing, electronics development, research and development, and others. The chemical manufacturing segment is expected to grow during the forecast period. Rising use in the manufacturing of methanol, hydrogen, and acetylene boosts segment growth. Increasing environmental concerns, increasing industrialization, and technological advancements further drive the growth of this segment.
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Top Market Players
- Air Liquide S.A.
- Messer Group GmbH
- Advanced Specialty Gases
- Linde plc
- Matheson Tri-Gas Inc.
- AGT International
- Osaka Gas Co. Ltd.
- Sumitomo Seika Chemicals Company Ltd.
- Bhuruka Gases Limited.
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Polaris Market Research has segmented the high purity methane gas market report on the basis of application, end-use, and region:
High Purity Methane Gas, Application Outlook (Revenue, USD Billion, 2016 – 2028)
- Heat Detection
- Chemical Manufacturing
- Electronics Development
- Research & Development
High Purity Methane Gas, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Oil & Gas
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