High Purity Methane Gas Market

Global High Purity Methane Gas Market Size (2024-2029):

The size of the global high purity methane gas market was worth USD 8.43 Billion in 2023. The global market is anticipated to grow at a CAGR of 5.4% from 2024 to 2029 and be worth USD 11.56 billion by 2029 from USD 8.89 billion in 2024. 

Current Scenario of the Global High Purity Methane Gas Market

High-purity methane gas is a form of natural gas that has been processed and purified to remove impurities and achieve a high level of purity. It is typically produced using various methods such as cryogenic distillation, pressure swing adsorption, and membrane separation. High-purity methane gas has numerous applications across various industries such as electronics, pharmaceuticals, chemicals, and metal fabrication. In the electronics industry, it is used as a process gas for semiconductor manufacturing and in the production of solar cells. In the pharmaceutical industry, it is used as a carrier gas for gas chromatography and in the synthesis of various drugs. In the chemical industry, high-purity methane gas is used as a feedstock for the production of various chemicals such as methanol and formaldehyde. It is also used as a fuel for transportation and power generation. The demand for high-purity methane gas is expected to grow in the coming years due to increasing industrialization, urbanization, and the growing use of natural gas as a cleaner energy source.

MARKET DRIVERS

The high-purity methane gas market is driven by several factors that are contributing to its growth. One of the key drivers is the increasing demand for high-purity methane gas from various end-use industries such as electronics, pharmaceuticals, and chemicals.

In the electronics industry, high-purity methane gas is used as a process gas for semiconductor manufacturing, and in the production of solar cells. As the demand for electronic devices such as smartphones, laptops, and tablets continues to grow, so does the high-purity methane gas market. Another driver for the high-purity methane gas market is the growing use of natural gas as a cleaner energy source. Natural gas is becoming increasingly popular as an alternative to fossil fuels such as coal and oil, as it produces fewer emissions and is more efficient. High-purity methane gas is used as a fuel for transportation and power generation, and thus the high-purity methane gas market grows.

MARKET RESTRAINTS

The high cost of production and purification of high-purity methane gas is limiting the market's growth rate.

The production and purification process requires advanced technology and equipment, which makes it expensive. This, in turn, makes the cost of high-purity methane gas higher than other forms of natural gas, which can limit its adoption in certain industries. Another restraint for the high-purity methane gas market is the increasing competition from other forms of natural gas such as liquefied natural gas (LNG) and compressed natural gas (CNG). These forms of natural gas are more widely available and cost-effective than high-purity methane gas, which can limit the market's growth. The limited availability of high-purity methane gas reserves is also a restraint to the market's growth. High-purity methane gas is a rare form of natural gas and is only found in a few locations globally. This limited availability can make it challenging to meet the growing demand for high-purity methane gas, which could further limit the market's growth. In conclusion, the high cost of production and purification, increasing competition from other forms of natural gas, and limited availability of high-purity methane gas reserves are expected to restrain the growth of the high-purity methane gas market in the coming years.

REPORT COVERAGE

SEGMENTAL ANALYSIS

High Purity Methane Gas Market Analysis By Application

The electronics segment is ruling with the dominant shares of the market. A growing number of companies and the rising prevalence of advanced technologies are prompting the demand of the market.

High Purity Methane Gas Market Analysis By Distribution Channel

The direct sales segment is a leading segment in the high-purity methane gas market as it allows customers to purchase the product directly from the manufacturer or supplier. Direct sales can also provide customers with personalized service and technical support.

High Purity Methane Gas Market Analysis By End-User Industry

The electronics and semiconductor industry is a leading segment in the high-purity methane gas market as it requires high-purity methane gas for various processes such as deposition and etching in the production of microelectronics.

REGIONAL ANALYSIS

North America is a leading segment in the high-purity methane gas market owing to rising per capita income. US and Canada are major countries contributing the largest shares of the market. The growing popularity of advanced technologies is accelerating the growth rate of the market in North America.

Asia Pacific high purity methane gas market shares are next to North America with the rising number of key players.

KEY PLAYERS IN THE GLOBAL HIGH PURITY METHANE GAS MARKET

Companies playing a prominent role in the global high purity methane gas market include Air Liquide S.A., Air Products and Chemicals, Inc., Linde plc, Praxair, Inc., Iwatani Corporation, Airgas, Inc., Matheson Tri-Gas, Inc., Messer Group GmbH, Taiyo Nippon Sanso Corporation, Iceblick Ltd., and Others.

RECENT HAPPENINGS IN THE GLOBAL HIGH PURITY METHANE GAS MARKET

• In February 2021, Air Liquide announced that it had signed a long-term contract with Steel Dynamics, Inc. to supply high-purity oxygen, nitrogen, and argon to its new steel mill in Sinton, Texas. As part of the agreement, Air Liquide will also supply high-purity methane gas to Steel Dynamics, Inc. to support its steel production process.
• In March 2021, Linde announced that it had signed a contract with Shanghai Huali Microelectronics Corporation (HLMC) to supply high-purity gases, including high-purity methane gas, to its new 300mm semiconductor manufacturing complex in Shanghai, China. The agreement aimed to support HLMC's efforts to produce advanced microchips for the global semiconductor market.
• In April 2021, Messer announced that it had acquired a new high-purity methane gas production plant in Suzhou, China. The plant was built to meet the growing demand for high-purity gases, including high-purity methane gas, in the electronics, semiconductor, and photovoltaic industries in the region.
• In May 2021, Air Products announced that it had signed an agreement with Samsung Electronics to supply high-purity industrial gases, including high-purity methane gas, to its new semiconductor manufacturing plant in Pyeongtaek, South Korea. The agreement aimed to support Samsung's efforts to produce advanced semiconductors and reduce its carbon footprint.

DETAILED SEGMENTATION OF THE GLOBAL HIGH PURITY METHANE GAS MARKET INCLUDED IN THIS REPORT

This research report on the global high purity methane gas market has been segmented and sub-segmented based on application, distribution channel, end-user industry and region.

By Application

• Electronics
• Semiconductor
• Photovoltaic
• Steel production

By Distribution Channel

• Direct sales
• Distributors
• Online channels

By End-User Industry

• Electronics
• Healthcare
• Petrochemical
• Others

By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa