Deuterium Gas Market Size, Share, Growth, and Industry Analysis by Type (5N Рurіtу Deuterium Gаѕ, 4N Рurіtу Deuterium Gаѕ, and Оthеrѕ) By Application (Fiber Optic, Pharmaceutical Industry, Electronics Industry, and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 13 November 2023

Deuterium Gas Market Report Overview

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The global deuterium gas market size was USD 303.06 million in 2021 and is expected to reach USD 556.34 million in 2031, exhibiting a CAGR of 6.26% during the forecast period.

One of the two stable isotopes of hydrogen is deuterium, often known as hydrogen-2 or heavy hydrogen. Due to a rise in nuclear power plant construction activities around the world during the course of the projection period, there has been a growth in demand for specialty gas-grade deuterium. Deuterium gas has several uses because of the advantages offered by its physical characteristics. The isotope's potential applications further increase when it is converted to a gas form, opening up a range of other possibilities. Nuclear projects and deuterium arch lights are two further uses.

It is a type of hydrogen that has one additional neutron and is widely distributed in the oceans of the world. Nuclear fusion reactions can be powered by deuterium gas, which offers a reliable, sustainable supply of energy. Moreover, in comparison to other methods of energy production, its wastes are quite safe. For non-nuclear applications like oil exploration, forensics, and numerous chemical processes, deuterium is a crucial element. Deuterium is used in nuclear applications such as enhancing fission processes in the development of weapons, research reactors for neutron scattering investigations, and the production of radioisotopes via the "heavy water" method.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with deuterium gas experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The worldwide economy was hurt hard by the coronavirus (COVID-19) outbreak. This pandemic has had an impact on every part of human society, including the energy market and business. Prices, demand, supply, investment, and several other elements of the energy sector, including the oil and gas business, have all been impacted by the pandemic. The purpose of this article is to assess how COVID-19 has affected the oil and gas sector and to provide a view of the post-COVID-19 deuterium gas market.

LATEST TRENDS

"Expansion of Nuclear Power Production to Boost Market Growth"

The necessity for greater energy security has led to an expansion in nuclear power production facilities throughout these regions, which can be ascribed to deuterium gas market growth. Increased emphasis on carbon reduction, particularly with partnerships between oil companies and car manufacturers set out to produce zero-emission cars by 2030; higher investment opportunities due to low-interest rates, etc. are some of the factors driving deuterium gas market growth. These countries are primarily emerging nations. Strict CO emission restrictions put in place by the European Union (EU) have caused consumers to become more environmentally conscious and eager for electric vehicles running on alternative fuels, such as hydrogen.

Deuterium Gas Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: 5N Рurіtу Deuterium Gаѕ, 4N Рurіtу Deuterium Gаѕ, and Оthеrѕ. The 5N Рurіtу Deuterium Gаѕ dominates the deuterium gas market share.

• By Application Analysis

Based on application, the market is segmented as follows: Fiber Optic, Pharmaceutical Industry, Electronics Industry, and Others. The fiber optic segment is anticipated to lead the deuterium gas market share.

DRIVING FACTORS

"Rise in Demand for Alternative Fuels to Facilitate Market Development"

The development of renewable energy sources and the rise in demand for alternative fuels are the key drivers of the worldwide deuterium gas market. More natural gas can now be extracted from shale deposits thanks to the development of new gas processing techniques. The greater hydrogen content of hydrogen is what has sparked a surge in interest in using it as a fuel for vehicles like electric cars. Due to its application in the display of nuclear energy and hydrogen fuel cells, which are developing into a desirable alternative to batteries, demand for D0 is predicted to increase dramatically throughout the projection period. Scientists' growing interest in neutron diffusion on samples, including pure deuterium gas, has led to a fresh round of funding for this sector, opening up a tonne more potential for corporations and research support.

"Various Benefits of Deuterium Gas to Promote Industry Progress"

The deuterium gas market has a variety of growth factors. In recent years, deuterium gas has grown in significance as a source of energy. The widespread use of deuterium gas is anticipated to boost deuterium gas market expansion. To make optical fiber, deuterium gas is used. The optical properties of optical fiber are diminished by water absorption. Deuteration of optical fibres extends cable life and decreases transmission losses brought on by water absorption. A few deuterated precursors are also made using deuterium gas, and these precursors are then employed to make additional interesting deuterated compounds. Deuterium gas is thus expected to develop the market due to its many benefits.

RESTRAINING FACTORS

"Hampered Supply Networks to Hinder Market Growth"

The supply of precise raw materials, like deuterium gas, used in the production of semiconductors, poses the greatest danger. Additionally, tariffs are applied to practically all industrial supplies and items, which is to be expected for chips. These tariffs have an immediate impact on the cost of making the chips since they affect components to import and export. The availability of chips has been restricted in 2021 due to a shortage, which has hampered supply networks. As the industry continues to expand, delays are anticipated for the rest of this year, which will indirectly influence the worldwide deuterium gas market. Vendors have been dealing with element shortages since the second quarter of 2020.

Deuterium Gas Market Regional Insights

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"Increase in Demand to Propel Market Progress in North America"

Due to an increase in demand for non-nuclear applications over the course of the forecast period, the North American region was expected to account for a sizable portion of the worldwide deuterium gas market in 2021. For non-nuclear applications like oil exploration, forensics, and numerous chemical processes, deuterium is a crucial element. Deuterium is used in nuclear applications such as enhancing fission processes in the production of weapons, developing reactors for neutron scattering experiments, and creating radioisotopes using the "heavy water process." Due to the rising demand for deuterium products in nuclear applications as a result of higher investments and the expansion of various sectors, the North American region is predicted to have a significant share in the worldwide deuterium gas market.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Huate Gas (China)
• Foshan Zhicheng Gas (China)
• KEY DH Technologies Inc. (Canada)
• Electronic Fluorocarbons LLC (U.S.)
• MATHESON (U.S.)
• PERIC Special Gases co., Ltd (U.S.)
• Air Liquide (France)
• Linde (Praxair included) (Ireland)

REPORT COVERAGE

The report covers overall market aspects, including market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.