North America - Biggest Market of Specialty Gas
North America has always been a strong market for specialty gas and globally, this market has been a leader for specialty gas with respect to demand. The region has the presence of most global leaders in specialty gas manufacturing. Specialty gas consumption in the region is estimated to grow at a CAGR of about 6.3% from 2013 to 2018. The region has a relatively moderate growth rate as a result of its dominant market size and continuously increasing demand. The demand in the region is mainly due to the increasing appetite for specialty gas in U.S.
Asia-Pacific - The Fastest Growing Specialty Gas Market
Asia-Pacific being the fastest growing specialty gas market globally is estimated to grow at a CAGR of 8.1% for the next five years. Asia-Pacific is witnessing a high industrial growth which hints at an ever increasing demand for specialty gas for its diverse applications. China dominates the specialty gas market in the Asia-Pacific region being a major consumer and the fastest growing country in terms of specialty gas demand. Currently, a high share of specialty gas is consumed by the manufacturing industry and the demand for specialty gas through the manufacturing industry is expected to grow in the next five years at a CAGR of more than 6.1% from 2013 to 2018. After China, countries that include India, South Korea and other Asian countries are showing increasing growth in demand for specialty gas.