Electronic Gases Market Segmented By Nitrogen Trifluoride, Tungsten Hexafluoride, Hydrogen Chloride, Ammonia, Disilane, High Purity Carbon Dioxide, SF6, Hexafluorobutadiene, Hydrogen Fluoride Type Used By Solar Panels, Electrical Equipment, Display Panels
The Global electronic gases market was valued to be ~US$ 11 Bn in 2018 and is expected to exceed ~US$ 15 Bn by the end of 2029. The global electronic specialty gases market is projected to grow at a CAGR of ~3% during 2019-2029, and is estimated to reach a global value of ~US$ 15,000 Mn by the end of 2029.
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Electronic gases are used to clean these process chambers of any residue left by these films or layers and allow them to operate efficiently, playing a critical role in the overall process. Rapid growth in the solar power sector in the coming decade is projected to drive continuing production of solar panels and thus influence the market demand for electronic specialty gases.
Governments all around the world are putting more emphasis on the adoption of renewable power production technologies as environmental worries about the damaging consequences of fossil fuel-powered energy generation grow. Solar panels have emerged as the renewable energy choice with the quickest rate of growth among the different technologies that are now used to generate renewable energy, including solar cells, wind turbines, hydroelectric plants, etc. According to the International Energy Association, the capacity of solar power installations doubled between 2016 and 2018, and they made up 50% of all new renewable power capacity additions in that year.
The main forces behind this technology are the low cost per kilowatt of energy generation, the widespread availability of equipment like solar panels, and the highly decentralised nature of individual solar photovoltaic panel installations. Solar cells, the fundamental components of a solar panel and the heart of the technology, are frequently made with electronic speciality gases. During the production of solar cells, extremely thin semi-conductive layers and insulating films are deposited to panels and wafers in a process chamber.
Key Companies-
- Air Products and Chemicals, Inc.
- The Linde Group
- Air Liquide S A
- Showa Denko K K
- Taiyo Nippon Sanso Corporation
- SCI Analytical Laboratories
- Spec Air Specialty Gases and more
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China is Emerging as the Frontrunner in Electronic Specialty Gases on the Backdrop of Cost-Effective Labor and Tax Waivers
According to PMR, the Chinese market is expected to be the most dominant market for electronic specialty gases globally due to the increasing number of semiconductor and electronic manufacturing units in the region. Increasing number of multinational companies engaged in the electronics industry are setting up production units in China owing to cheaper labor costs and additional benefits offered by the government in the form of tax cuts and waivers on additional overhead costs.
Furthermore, the stable political scenario and the rapidly growing economy of China is also resulting in many companies moving to China from the western countries. In terms of value, nitrogen trifluoride, hydrogen chloride, sulfur hexafluoride and disilane are the products that account for a substantial portion of the market demand. The large presence of semiconductor fabrication units as well the huge demand for electrical equipment such as transformers is projected to drive demand for the electronic specialty gases market in China.
The market for electronic specialty gases is anticipated to grow as a result of the rising adoption of LED lighting technology.
One of the main causes supporting the expansion of the semiconductor business is the ongoing shrinking of electronic devices and the influx of technologically advanced electronic gadgets like wearables and palmtops. The advancement of LED and Liquid Crystal Display display technology is also assisting in the market’s expansion. The market for electronic specialty gases will continue to expand due to the demand for energy-efficient electrical lighting equipment like LED lamps. Nitrogen trifluoride, an electronic specialty gas, is used more frequently in the production of semiconductor industry products like flat-panel displays and thin-film solar cells.
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Key Questions Answered in This Report –
Which is the largest regional market for Electronic Gases?
What are the upcoming trends of Electronic Gases Market in the world?
What are the key driving factors for the growth of the Electronic Gases Market?
What are the top players operating in the Electronic Gases Market?
What are the key regions in the global Electronic Gases market?
Who are the key players/companies in the global Electronic Gases market?
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