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Asia as a choice market for specialty gas companies is becoming popular
The healthcare industry in Asia has the most promising growth aspects due to its huge population. With a vast aging population, Asia as a choice market for specialty gas companies is becoming popular. Oxygen is expected to hold half the share of this growth in 2013 with home and institutional respiratory therapies on the rise. Due to its gaining popularity, huge investments have been planned in specialty gas by some of the major global players.
Specialty gases represent rare or ultra-high purity gases, that is, 99.995% pure and above. These gases include all the minor gases which are used in specialized applications. Different types of specialty gases such as high purity gases, noble gases, carbon gases, halogen gases, and other specialty gases have unique properties and thus benefit many industries, including analytical, pharmaceutical, electronics, petrochemical, etc., ultimately helping them to lower costs, improve yields, and optimize performance.
Helium, nitrous oxide, and a few other key gases used in the healthcare industry are expected to experience an increase in demand. Various other applications of specialty gases in the medical field include sterilization, imaging equipment operations, anesthesia, and also in analytical equipment. Laboratory uses are also expected to contribute to the demand in specialty gases. China’s healthcare industry, one of the major consumers of specialty gases in the Asia-Pacific region, is expected to grow at a healthy growth rate of 8.9% for the next five years. Additionally, the Indian healthcare industry is also one of the fastest growing industries in Asia-Pacific and is expected to grow at a 9.2% growth rate for the next five years.
With the global supply of helium always being under acute shortage, research activities to develop novel ways to secure helium is underway. In one such initiative, Air Products and Chemicals (U.S.) has developed a new process to extract helium from a naturally occurring underground carbon dioxide stream. This plant which is in association with Kinder Morgan CO2 Company LP (U.S.) would be the first and only plant in the world to extract helium from CO2 and is expected to come on stream in 2015. Also, Air Liquide S.A. (France) has participated in the two innovation centers which would work on both, reducing the energy use at its industrial facilities and new generation photovoltaic systems.
Related Reports:Specialty Gas Market by Types (High Purity, Noble, Carbon, Halogen, & Others), by Applications (Manufacturing, Electronics, Healthcare, Academics, & Others) & Geography - Global Trends and Forecast to 2018.
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