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India Specialty Gases Market to Grow at over 12% CAGR between 2017-2026

India Specialty Gases Market to Grow at over 12% CAGR between 2017-2026: TechSci Research Report

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.

Browse 7 market data Tables and 34 Figures spread through 111 Pages and an in-depth TOC on "India Specialty Gases Market"

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, 2012-2026has 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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