High Purity Methane Gas Market: Segmented by Type (Chemical synthesis, Heat detection, Hydrogen Fuel and Others), By Application (Medical, Automotive, Defense, Electronics and Others), and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
High Purity Methane Gas Market to surpass USD 11.2 billion by 2030 from USD 6.6 billion in 2020 at a CAGR of 6.1% in the coming years, i.e., 2021-30.
High-purity methane gas is used in the manufacturing process of electronics devices like silicon wafers, solar cells, semiconductors, and electronic components. In the fields of cutting-edge technologies such as nanoparticle diamond, graphene, and monocrystal diamond, high-purity methane gas is garnering interest. Because of its low cost, great efficiency, and low striking voltage, high-purity methane gas is employed in fluorescent tubes for lighting reasons in this business.
Due to its unique qualities, high purity methane gas finds employment in a variety of end-use industries, including electrical and electronics, chemical, oil and gas, automotive and transportation, medicinal, and others. This is expected to surge growth of the market for high purity methane gas.
Global High Purity Methane Gas market is segmented by type into Chemical synthesis, Heat detection, Hydrogen Fuel, and Others. Chemical synthesis segment held the largest market share in the year 2020. The increased need for high-purity methane gas as a raw material for the manufacturing of methanol, synthetic ammonia, hydrogen, acetylene, carbon black, and carbon disulfide, among other products, is driving this segment's expansion.
Global High Purity Methane Gas market is divided by application into Medical, Automotive, Defense, Electronics, and Others. Over the forecast period, the electronics segment is projected to expand at the fastest pace. The electrical and electronics industries rely heavily on high purity methane gas. Because of its low cost, great efficiency, and low striking voltage, high-purity methane gas is employed in fluorescent tubes for lighting reasons in this business. The high purity methane gas market is being driven by the increasing use of high purity methane gas in the electronics and chemical sectors.
Growing use of graphene and various applicants
High purity gases are utilized in silicon wafers, integrated circuits (IC), semiconductors, and solar cell devices, among other electronic components. Low optical absorbance, high electrical conductivity, high charge mobility, flexibility, and bendability are all features of graphene, which is made from high purity methane gas. Carbon atoms are organized in a honeycomb configuration in graphene, which is only one atom thick. Microchips and transistors, both fundamental components in almost all electrical devices, are made from graphene. As a result, the market for high purity methane gas is being driven by the growing use of graphene for electronic components and semiconductors, as well as the increasing capacity of installed semiconductors, integrated circuits used in various electronic equipment, and the development of new technologies.
Increased demand from electronics and automotive industry
Rising demand from the electronics industry due to its heavy reliance on high purity methane gas as it has low cost and greater efficiency and low striking voltage is expected to drive demand. Additionally, growing Demand from chemical synthesis applications and increasing demand for hydrogen as a cleaning fuel in the automotive industry.
High cost and environmental issues
High cost associated with the methane gas is expected to hamper the market. There are also certain political and environmental hurdles that are limiting the market's growth, such as the exploitation of natural gas deposits in various regions and the environmental dangers involved with the use of methanol as a fuel.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global High Purity Methane Gas market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The market in North America is expected to hold the highest CAGR over the forecasted period due to significant demand from the electronic, electrical, construction, information technology, and healthcare industries. North America is the world's largest and fastest-growing market for high-purity methane gas, with the United States as the most important emerging market. The rapid increase in demand for High Purity Methane Gas from the electrical and electronic industries, as well as the chemical industry, can be ascribed to the expansion. The United States is a large producer of high purity methane gas and has the highest use of the gas.
|Market size value in 2020||USD 6.6 billion|
|Revenue forecast in 2030||USD 11.2 billion|
|Growth Rate||CAGR of 6.1% from 2021 to 2030|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Application, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||BASF, Osaka Gas, Sumitomo Seika, Linde Plc., Air Liquide, Matheson Tri-Gas Inc, Xergi, and Other Prominent Players.|
The High Purity Methane Gas Market size was estimated at USD 6.6 billion in 2020 and is expected to reach 11.2 billion by 2030.
Key players: BASF, Osaka Gas, Sumitomo Seika, Linde Plc., Air Liquide, Matheson Tri-Gas Inc, Xergi, and Other Prominent Players
Chemical synthesis segment and Electronics segment are anticipated to hold the largest High Purity Methane Gas Market.
Drivers: Growing use of graphene and various applicants and Increased demand from electronics and automotive industry
High-purity methane gas is used in the manufacturing process of electronics devices like silicon wafers, solar cells, semiconductors, and electronic components. In the fields of cutting-edge technologies such as nanoparticle diamond, graphene, and monocrystal diamond, high-purity methane gas is garnering interest.
Select License Type
US : +1 (716) 218-3733
UK : +44 (208) 1235555
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT