Methane Market Size was valued at USD 89.9 Billion in 2022. The Methane market industry is projected to grow from USD 95.4 Billion in 2023 to USD 153.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2023 - 2032). The expanding use of graphene in semiconductors and electronic components, the expansion of installed semiconductor capacity, and the use of integrated circuits in a variety of electronic devices, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Electronic parts including silicon wafers, integrated circuits (IC), semiconductors, and solar cell devices all utilize high purity gases. High purity methane gas is one of the primary raw materials used to create graphene, which has remarkable properties such as little optical absorption, high charge mobility, flexibility, high electrical conductivity, and bendability. Carbon atoms are arranged in a honeycomb arrangement to form graphene, which is one carbon atom thick. These qualities make graphene suitable for a variety of applications, including as solar cells and transistors. One of graphene's most intriguing possible applications is as a transparent conducting electrode. The transparent conductive electrode must have good optical transparency and electrical conductivity. Indium-tin-oxide (ITO) is often used as transparent conductive electrodes due to its great optical transparency and high conductivity.
Additionally, the production of microchips and transistors, two components that are crucial to almost all electrical devices, uses graphene. Many companies are already working on the creation of conductive ink, a type of ink that conducts electricity and is used to print graphene circuits. Chemical vapour deposition (CVD) is the most promising technology for producing graphene for large-scale electronic device applications because to its lower cost and improved efficiency. The market for high purity methane gas is therefore being driven by the increasing use of graphene for semiconductors and electronic components, as well as the capacity of installed semiconductors, integrated circuits used in various electronic equipment, and the development of new technologies.
The market for high-purity methane gas is expanding as a result of rising demand for electronic goods. Components that govern the flow of electrical currents into processing systems are known as electronic products. These devices have an electrical circuit that, while in use, has the ability to produce or emit a physical radiation field. Due to the development of new technologies, such as software, app development, robots, and artificial intelligence, consumer electronics have grown and intersected with many industries and sectors, fueling consumer electronics growth. The requirement for high-purity methane gas to generate materials for cells and other electrical devices has expanded as a result of the growth in demand for consumer electronics products. For instance, gfu Consumer and Home Electronics GmbH, a consumer electronics company with headquarters in Therefore, the market for high-purity methane will be driven by the rising demand for electronics goods. Thus, driving the Methane market revenue.
The Methane market segmentation, based on source, includes natural and synthetic. In 2022, the natural category led the market, and this trend is anticipated throughout the forecast period. This is explained by methane's widespread availability in the environment.
The Methane market segmentation, based on application, includes fuel, natural gas, liquefied natural gas, liquid-methane rocket fuel, and chemical feedstock. In 2022, the worldwide liquid-methane rocket fuel market was dominated by the fuel category. This can be linked to the rising demand for gasoline across many industries worldwide.
The Methane market segmentation, based on End Use Industry, includes automotive and aerospace & defense. Due to the growing use of methane in the automotive industry, the automotive segment led the methane market in 2022.
Figure 1: Â Methane Market, by End Use Industry, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Methane Market dominated this market in 2022 (45.80%). This region has grown as a result of a number of causes, including a high rate of industrialisation, rising consumer spending, the presence of major businesses, and technical breakthroughs. The market for high purity methane gas is expanding in the area as a result of rising automotive penetration, rising vehicle modernization, and attempts to encourage the use of electric vehicles. The growth in this region is also fueled by expanding applications in the electrical and electronics industries. Further, the U.S. Methane market held the largest market share, and the Canada Methane market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Â METHANE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Methane market is expected to register significant growth from 2023 to 2032. The chemical sector and the thriving and expanding car industry belong to this. By using methane gas, many significant players are also manufacturing liquefied natural gas. Further, the German Methane market held the largest market share, and the U.K Methane market was the fastest growing market in the European region
The Asia Pacific Methane market, accounted for the healthy market share in 2022. The market for methane in emerging nations is quite promising. The demand for methane, which is utilized as a chemical feedstock in businesses, has expanded as a result of urbanization and industrialisation. Methane is used as a fuel in the expanding automotive sector. Moreover, China’s Methane market held the largest market share, and the Indian Methane market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Methane market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Methane industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Methane industry to benefit clients and increase the market sector. In recent years, the Methane industry has offered some of the most significant advantages to medicine. Major players in the Methane market, including Oil and Natural Gas Corporation, Royal Dutch Shell PLC, Senex Energy Limited, G3 Exploration, Black Diamond Energy Inc., Halliburton Co., IGas Energy, China National Offshore Oil Company, China National Petroleum Corporation, Metgasco Ltd., BP PLC, TLOU Energy Ltd, Dart Energy Corporation, Bow Energy, and American Gas Products, are attempting to increase market demand by investing in research and development operations.
Engineering and industrial gas provider Linde plc (Linde). Industrial, process, and speciality gases are provided by it. producing well producing industrial gases including carbon dioxide, helium, hydrogen, electronic gases, and acetylene, the company also produces atmospheric gases like oxygen, nitrogen, and argon. Additionally, Linde provides a variety of gas production and processing services in addition to designing, engineering, and constructing machinery that produces gases for internal use. Healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel production, aerospace, chemicals and energy, electronics, and water treatment are just a few of the industries it supports. In APAC, EMEA, and the Americas, it runs cryogenic air separation plants, hydrogen plants, and carbon dioxide plants. In Guildford, Surrey, United Kingdom, Linde is headquartered.
The industrial and healthcare industries are served by Air Liquide SA (Air Liquide), a provider of gases, technologies, and services. Along with argon and other rare gases, the company also produces gases such as oxygen, nitrogen, and hydrogen. Customers in a variety of industries, including steel, food and pharmaceuticals, chemicals, electronics, automotive, and manufacturing, are served by this company's supply of these gases. The business also creates processing facilities and associated infrastructure. Skin disinfectants, antiseptics, and medical device disinfection products are offered by Air Liquide. The business distributes its goods via local facilities, tanker trucks, and cylinders. It operates in the Americas, Europe, Africa, the Middle East, and Asia-Pacific. The headquarters of Air Liquide are located in Paris, Ile-de-France, France.
December 2021:Â In order to research methods to reduce methane emissions in the oil, coal, and gas industries, the U.S. Department of Energy (DOE) announced a USD35 million investment in twelve projects. In an effort to reduce methane emissions in the United States, the Advanced Research Projects Agency-Energy (ARPA-E) of the DOE announced the Reducing Emissions of Methane Every Day of the Year (REMEDY) program earlier this year.
November 2021:Â For its initial data submission to the UN-sponsored Oil and Gas Methane Partnership 2.0 (OGMP 2.0), Jonah Energy LLC was awarded the Gold Standard.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 89.9 Billion |
| Market Size 2023 | USD 95.4 Billion |
| Market Size 2032 | USD 153.2 Billion |
| Compound Annual Growth Rate (CAGR) | 6.10% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Source, Application, End Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Oil and Natural Gas Corporation, Royal Dutch Shell PLC, Senex Energy Limited, G3 Exploration, Black Diamond Energy Inc., Halliburton Co., IGas Energy, China National Offshore Oil Company, China National Petroleum Corporation, Metgasco Ltd., BP PLC, TLOU Energy Ltd, Dart Energy Corporation, Bow Energy, and American Gas Products |
| Key Market Opportunities | Development of new technologies |
| Key Market Dynamics | The growing usage of graphene in electronic components and semiconductors, the increasing capacity of installed semiconductors, and integrated circuits employed in various electronic equipment |
Methane Market Highlights:
Frequently Asked Questions (FAQ) :
The Methane market size was valued at USD 89.9 Billion in 2022.
The Methane market is projected to grow at a CAGR of 6.10% during the forecast period, 2023-2032.
North America had the largest share in the Methane market
The key players in the Methane market are Oil and Natural Gas Corporation, Royal Dutch Shell PLC, Senex Energy Limited, G3 Exploration, Black Diamond Energy Inc., Halliburton Co., IGas Energy, China National Offshore Oil Company, China National Petroleum Corporation, Metgasco Ltd., BP PLC, TLOU Energy Ltd, Dart Energy Corporation, Bow Energy, and American Gas Products
The Natural Source dominated the Methane market in 2022.
The Fuel Application had the largest share in the Methane market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
