High Purity Methane Gas Global Market Report 2024

The global high purity methane gas market has grown strongly in recent years. It will grow from $7.35 billion in 2023 to $7.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historical period can be attributed to the increasing demand in industrial applications, specific requirements from the petrochemical industry, ongoing research and development initiatives, and the prevalent use of gas chromatography in laboratory applications.

The global high purity methane gas market is expected to see strong growth in the next few years. It will grow to $10.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The projected growth in the forecast period can be attributed to the increase in semiconductor and electronics manufacturing, continued use in gas chromatography and laboratories, and growing demand in the energy sector. Major trends expected in this period include ongoing market innovation and research and development (R&D), expansion into new markets, compliance with safety and quality standards, heightened attention to environmental concerns and regulations, increased applications in healthcare and medical fields, and the adoption of advanced manufacturing processes.

The high-purity methane gas market is experiencing significant growth, primarily fueled by the surging demand for electronic products. Electronic products, which encompass a broad range of devices controlling electrical currents for processing systems, have become integral across various sectors due to technological advancements. This expansion of consumer electronics, including software, robotics, artificial intelligence, and app development, has led to a global increase in demand. The production of materials for cells and other electronic devices requires high-purity methane gas. Notably, the consumer electronics segment witnessed a substantial growth of 9.6%, reaching $37.4 billion in sales in 2021, as reported by gfu Consumer and Home Electronics GmbH, highlighting the direct correlation between the growing demand for electronic products and the high-purity methane gas market's upward trajectory.

The high-purity methane gas market is poised for further growth, propelled by the escalating demand for semiconductors. Semiconductors, critical components usually made of silicon, play a pivotal role in modern electronics. High-purity methane gas is indispensable in semiconductor manufacturing, used for producing crucial materials and facilitating the cleaning and etching of semiconductor wafers. The global semiconductor sales surged by 20% to reach $600 billion in 2021, with an anticipated average growth rate of 6% to 8% by 2030, according to McKinsey and Company. This surge in semiconductor demand underscores the crucial role of high-purity methane gas in the semiconductor industry, positioning it as a key driver for the market's sustained growth.

A prominent trend in the high-purity methane gas market is the focus on technological advancements, particularly in methane gas leak detection systems. Companies operating in the market are actively engaged in research and development to introduce cutting-edge tools and technologies. NOVATEK-Yurkharovneftegas, a Russia-based gas company, exemplifies this trend with its initiative to monitor methane leaks using unmanned aerial vehicles (UAVs). This innovative approach forms part of a comprehensive environmental program, providing more precise and rapid observations compared to traditional monitoring methods. The market's emphasis on technological advancements reflects a commitment to enhancing safety and efficiency.

Major players in the high-purity methane gas market are concentrating on developing innovative products to cater to evolving customer needs. An example is Panasonic Holdings Corporation's introduction of a 5 kW Type Pure Hydrogen Fuel Cell Generator in October 2021. This generator utilizes high-purity hydrogen and oxygen to produce electricity through a chemical reaction, emitting only water as a byproduct. Widely used in applications requiring a quiet and reliable power source, such as hospitals and data centers, the generator boasts an industry-leading electrical efficiency of 56%. This innovation exemplifies the market's commitment to providing clean and sustainable energy solutions, further driving its growth.

In February 2021, Rosetti Marino S.p.A., an Italy-based company specializing in engineering and construction services, successfully acquired a 60% stake in Green Methane s.r.l for an undisclosed amount. This strategic acquisition aligns with Rosetti Marino's objective to position itself as an integrated contractor offering comprehensive solutions across the entire Biogas treatment line. The company aims to provide advanced facilities for the generation of Green Methane, including liquefied options, as well as Green Hydrogen tailored to meet specific customer requirements. Green Methane s.r.l is an Italian company focused on the production of high-purity methane gas.

Major companies operating in the high purity methane gas market report are Air Liquide S.A, Axcel Gases, Bhuruka Gases Limited, Chemix Specialty Gases and Equipment, Chengdu Taiyu Industrial Gases Co. Ltd., CryoCarb, Taiyo Nippon Sanso Corporation, Wuhan Newradar Special Gas Co. Ltd., EFC Gases & Advanced Materials, Gas Innovation, Linde PLC, Matheson Tri-Gas Inc., The Messer Group GmbH, Middlesex Gases & Technologies, Osaka Gas Co. Ltd., Scientific Gas Australia Pty Ltd., Advanced Specialty Gases, AGT SpA, Sumitomo Seika Chemicals Company, Air Products and Chemicals Inc., Praxair Inc., Airgas Inc., Air Water Inc., Iwatani Corporation, Electronic Fluorocarbons, Qingdao Guida Special Gas Co. Ltd., Cryostar SAS, Showa Denko K.K., American Welding & Gas, Green Methane s.r.l

North America was the largest region in the high purity methane gas market in 2023. The regions covered in the high purity methane gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the high purity methane gas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of high-purity methane gas applications include chemical synthesis, heat detection, hydrogen fuel, and others. Chemical synthesis involves one or more chemical reactions to convert reactants into products. High-quality methane gas is utilized in the chemical synthesis of various products such as methanol, synthetic ammonia, hydrogen, acetylene, carbon black, and carbon disulfide. Applications span across medical, automotive, defense, electronics, and other industries. Distribution methods include on-site production, bulk transportation (liquid gas transport), and cylinder distribution (merchant).

This report provides high purity methane gas market statistics, including high purity methane gas industry global market size, regional shares, competitors with a high purity methane gas market share, detailed high purity methane gas market segments, market trends and opportunities, and any further data you may need to thrive in the high purity methane gas industry. This high purity methane gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The high purity methane gas market consists of sales of methane, hydrogen, carbon monoxide, carbon dioxide, and steam. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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