Dublin, Dec. 31, 2024 (GLOBE NEWSWIRE) -- The "Australia Specialty Gases Market, By Region, Competition, Forecast & Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The Australia Specialty Gases Market was valued at USD 115.86 Million in 2023, and is expected to reach USD 149.68 Million by 2029, rising at a CAGR of 4.56%. Specialty gases play a pivotal role across diverse industries, providing high-purity gases with minimal impurities essential for applications demanding precision and reliability, spanning from healthcare to manufacturing.
In Australia, the specialty gases sector is witnessing notable expansion, propelled by several factors. A key catalyst is the escalating demand for specialty gases in research and development, analytics, and calibration endeavors. As Australian industries endeavor to innovate and optimize their operations, the requirement for top-tier specialty gases is projected to escalate.
The growth of Australia's specialty gases market is bolstered by local manufacturing and distribution networks. Entities like Coregas contribute significantly to market expansion by locally producing gases and distributing them across Australia and New Zealand. This localized production fosters a dependable supply chain, a critical aspect for industries heavily reliant on these gases.
Key Market Trends
Focus on Renewable Energy
The focus on renewable energy has become a significant trend in Australia's specialty gases market, particularly with the increasing adoption of solar and wind energy technologies. Specialty gases like argon and helium play a critical role in the production and maintenance of photovoltaic (solar) cells and wind turbine components. Argon, for instance, is used as a shielding gas in welding processes for assembling wind turbines, ensuring high-quality joints and durability. Similarly, helium is employed in leak detection during the manufacturing and maintenance of solar panels, ensuring the integrity of these critical components.
Australia's commitment to renewable energy has accelerated this trend, with the government setting ambitious targets to achieve net-zero emissions by 2050. Policies such as the Renewable Energy Target (RET) and substantial investments in solar energy projects have boosted demand for specialty gases in solar cell production. For example, argon and nitrogen are integral in creating the inert atmospheres required for high-purity silicon wafer production, a key component of photovoltaic cells.
Recent advancements in green hydrogen technology have also influenced the specialty gases market. Australia's hydrogen industry roadmap emphasizes the use of hydrogen as a renewable energy source, requiring high-purity specialty gases for hydrogen production, storage, and transportation. This has further driven innovation and demand in the specialty gases sector.
The collaborations between gas manufacturers and renewable energy companies are fostering innovation in the efficient use of specialty gases. Companies are developing customized gas solutions to support renewable energy projects, ensuring sustainable and efficient operations. For example, research projects supported by the Australian Renewable Energy Agency (ARENA) have explored the use of specialty gases in optimizing solar panel efficiency and longevity. These developments underline the critical role of specialty gases in supporting Australia's transition to a renewable energy-driven future.
Surge in Technological Advancements
In recent times, Australia's specialty gases sector has witnessed a notable upsurge in technological advancements, marking a significant transformation across various facets of the industry. Technological breakthroughs are propelling substantial progress in the production, refinement, and packaging of specialty gases. Sophisticated manufacturing methodologies such as cryogenic distillation and membrane separation are facilitating the generation of gases with heightened purity levels and meticulously tailored compositions. These advancements not only elevate the caliber and dependability of specialty gases but also streamline production processes, thereby curbing environmental impacts.
The integration of digitalization and automation technologies marks a substantial stride forward in optimizing gas production and distribution processes within the specialty gases industry. Through the utilization of cutting-edge digital tools and automated systems, gas suppliers are attaining unparalleled levels of operational efficiency and resource utilization.
At the core of this technological evolution are real-time monitoring and control systems, which furnish gas suppliers with invaluable insights into production processes and distribution networks. These systems enable suppliers to perpetually monitor essential performance indicators, including gas flow rates, pressure levels, and temperature conditions, facilitating proactive adjustments and optimization in real-time.
Regional Insights
Australia Capital Territory & New South Wales emerged as the dominant player in the Australia Specialty Gases Market in 2023, holding the largest market share in terms of value. The strong presence of esteemed research institutions and academic hubs in Australia Capital Territory (ACT) and New South Wales (NSW) provides an ideal environment for collaborative ventures between academia and industry. This partnership acts as a driving force for the development and enhancement of groundbreaking technologies and uses for specialty gases. Through the collaboration of researchers, scientists, and industry experts, this cooperative ecosystem fosters innovation and expedites the assimilation of specialty gases into forefront research endeavors and burgeoning industries.
Key Market Players
- Linde Material Handling
- Supagas Holdings
- Coregas
- Air Liquide Australia
- BASF Australia
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $115.86 Million |
| Forecasted Market Value (USD) by 2029 | $149.68 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Australia |
Report Scope:
In this report, the Australia Specialty Gases Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Australia Specialty Gases Market, By Type:
- High purity
- Nobel
- Carbon
- Halogen
- Others
Australia Specialty Gases Market, By Application:
- Manufacturing
- Electronics
- Healthcare
- Others
Australia Specialty Gases Market, By Region:
- Australia Capital Territory & New South Wales
- Northern Territory & Southern Australia
- Western Australia
- Queensland
- Victoria & Tasmania
For more information about this report visit https://www.researchandmarkets.com/r/caytvh
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