Semiconductor Gases Market To Generate Massive Revenue in Future by 2029
The global semiconductor gases market size is expected to grow substantially backed by the surging demand for consumer electronics in the foreseeable future. This information is published by Fortune Business Insights in its report, titled “Semiconductor Gases Market, 2022-2029“. Gas suppliers provide high-quality and stable gases to keep the process of various electronics clean and stable. The oxide formed by the gases acts as a barrier in the case dopant chemicals are diffused or deposited on the surface. For instance, helium is usually used as a coolant in the electronic semiconductor industry.
Market Faces Revenue Contraction Owing to Pandemic Situation
The COVID-19 situation has resulted in high incidence of production delays with stringent lockdown norms imposed. The International Data Corporation has already given an estimate of 6% revenue contraction in 2020 due to the pandemic. The impact on the automotive sector especially in China faced a reduction in exports and imports. With the number of people recovering globally, and the lockdown norms easing down, the chances of production facilities operating at full capacity have high probability. This is expected to boost the demand for the product.
Browse Summary of this Research Report
By type, the market for semiconductor gases is segmented into hydrogen, nitrogen trifluoride, chlorine gas, silicon gas, ammonia gas, and others. On the basis of application, this market is segmented into semiconductors, PCBs, displays, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The global market for semiconductor gases report has details on all the latest technology available in the market. The technological advances made in the industry have been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advises various solutions to them. It also mentions the growth stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
High Consumption by Electronics Industry to Fuel Growth
The high consumption experienced by the consumer electronics industry is predicted to boost the semiconductor gases market growth. The increasing focus on development of advanced infrastructure globally is leading to a high demand for electronic equipment. According to the Global OLED sales report, approximately 1 billion units of T.V. sets were sold in the fourth quarter of 2019. The rising consumption of these devices is expected to propel the demand for the product.
The market is quite competitive and research-intensive. The increasing investment and research by prominent market leaders are expected to increase production in the forthcoming years.
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Asia-Pacific to Remain Dominant; Presence of Large Production Units to Aid Growth
Asia Pacific is projected to hold the largest semiconductor gases market share during the foreseeable future. This is owing to the rapid urbanization in countries such as China, Japan, India, and others. Moreover, in countries such as China, these gases are utilized on a large scale for producing printed circuit boards, transformers, television sets, and others.
North America is expected to hold a significant market share during the foreseeable future. The presence of technologically advanced equipment in the region is likely to propel the demand for semiconductor gases.
Increasing Investment in R&D Activities by Eminent Players to Intensify Market Competition
The prominent players of the market have a strong portfolio and a history of continuous investment in research and development. They devise strategic product launches along with advanced solutions to propel their product sales. With the wide range of potential opportunities in this market, even the new entrants of the market can easily stabilize their position. This has resulted in the entrance of several domestic players into the market
List of Key Players Profiled in the Market Semiconductor Gases:
- The Linde Group ltd
- Solvay chemicals fb Air Liquide ltd
- Praxair Technology Inc.
- Air Products and Chemicals Inc.
- lwatani Corporation
- Colfax Corporation
- Ichor systems
- Matheson Tri-Gas
- Messer group GMBH
- Holdings AB
- Applied Energy Systems Inc.
- Indiana Oxygen Inc.
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