Global noble gases market has received a tremendous boost on account of rising applications in niche markets such as window insulations, laser technologies, electronics, energy-efficient lighting industry and semiconductors industry. Noble gases are tasteless, odorless, colorless and inflammable; they also have a volatile nature, allowing changes as per application which gains a competitive edge over other regular gases. Demand for noble gases has been rising particularly in energy-efficient lighting systems and in window-insulation. Since noble gases are inert in nature and do not react with other elements, demand has increased in applications where oxidation or other reactions are undesirable. Non-reaction to heat makes noble gases an ideal substance for application in bulbs and tubes, which is expected to boost their demand over the forecast period. In order to increase capacity production, various new noble gas manufacturing plants are expected to be set up to meet current demand, which is likely to increase demand later on.
Segmentation on product basis includes helium, neon, argon, krypton and xenon. Benefits such as precise treatment and less trauma for patients have led to increasing usage of lasers in medical applications. Noble gas lasers are hence being widely used for surgical purposes such as ophthalmic surgeries, cosmetic surgical treatments and dermatology. Helium has achieved highest growth potential owing to economical costs and abundant availability of the gas in natural air. Krypton, neon and argon are likely to witness moderate growth over the forecast period on account of their increasing application in niche markets. Argon is generally used in thermal insulation windows; U.S. Department of Energy (DOE) also encourages replacement of old windows with new energy-efficient ones by offering incentives and rebates, leading to higher demand for argon gases in this application. Xenon gas application as a medical anesthetic is also anticipated to expand the demand for rare gases throughout the forecast period. Xenon is also widely used in plasma televisions, which has contributed largely to the demand for noble gases in recent years. Noble gases are also widely used in the aviation and aerospace industry to provide propulsion for spacecrafts. Noble gases prices are highly influenced by conventional gas prices. Increasing hydrogen and nitrogen prices are expected to aid in decline of noble gas prices, providing incentives to market growth from consumption point of view. North America and European markets are expected to witness significant growth over the forecast period owing to increasing noble gases consumption in lasers and aerospace applications. Asia Pacific is expected to be driven by growing aerospace industry and increasing noble gases demand in energy efficiency applications.
Major market participants in the global noble gases market include Proton Gases, Noble Gas Solutions, The Linde Group, Noble Energy Inc., Airgas Inc., Praxair Inc Air, Liquide S.A. and Ellenbarrie Industrial Gases Ltd.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.