Global Neon Gas Market Report and Forecast 2023-2028

Global Neon Gas Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global neon gas market attained a value of USD 1295.46 million in 2022. Aided by the increasing applications in various industries such as electronics, automotive, and lighting, the market is projected to further grow at a CAGR of 10.2% between 2023 and 2028 to reach a value of USD 596.80 million by 2028.

Neon gas is a noble gas that is colourless, odourless, and tasteless in its natural state. It is primarily used for producing neon signs, high-voltage indicators, and gas discharge tubes. Additionally, neon gas is utilised as a cryogenic refrigerant, a filling gas for glass windows, and as a component in lasers, among other applications. The neon gas market is significantly influenced by the rapid industrialisation and urbanisation in emerging economies, leading to increased demand for neon gas in various industries. The construction of new commercial and residential buildings, along with infrastructure development projects, has created a higher demand for neon gas-based lighting solutions.

The increasing applications in the electronics industry are driving the growth of the neon gas market. The rising demand for electronic products, particularly in emerging economies, has led to an increase in the consumption of neon gas. Neon gas is used as a component in laser technology, which has applications in various sectors such as healthcare, telecommunications, and defence. The advancements in laser technology and the growing adoption of lasers in various industries are driving the demand for neon gas.

Another factor propelling the growth of the neon gas market is its widespread use in the automotive industry. Neon gas is employed in the production of high-intensity discharge (HID) lamps, which are used in automotive headlights. These lamps provide better visibility and have a longer lifespan compared to traditional halogen lamps. The growing demand for energy-efficient lighting solutions in the automotive sector is driving the adoption of HID lamps, thereby boosting the demand for neon gas. The increasing focus on environmental sustainability and the adoption of eco-friendly practices across industries are driving the demand for neon gas.

In addition, neon gas is extensively used in the lighting industry, particularly for the production of neon signs. The increasing demand for advertising and decorative lighting in commercial establishments, such as restaurants, bars, and retail stores, is contributing to the growth of the neon gas market. Moreover, neon signs are energy-efficient and have a long lifespan, which makes them an attractive choice for businesses.

Market Segmentation

The market can be divided on the basis of application, end use, and region.

Market Division by Application:

• Semiconductor
• LCD
• Imaging and Lighting
• Laser
• Others

Market Breakup by End Use:

• Aerospace and Aircraft
• Automotive and Transportation Equipment
• Electronics
• Healthcare
• Others

Market Segregation by Region:

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global neon gas companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Linde plc
• L’Air Liquide S.A. (Air Liquide)
• Ingas LLC
• Cryoin Engineering Ltd.
• Messer Group GmbH
• Others

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.