Global Rare Gases Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Rare Gases Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Rare gases, also known as noble gases, refer to a group of chemical elements that belong to Group 18 of the periodic table. These elements include helium (He), neon (Ne), argon (Ar), krypton (Kr), xenon (Xe). The rare gases have a complete outer electron shell, making them chemically stable and unreactive under normal conditions. This stability gives them unique properties and various practical applications. For example, helium is widely used in cryogenics and as a lifting gas, while neon is commonly used in signs and lighting. Argon is often used as a shielding gas in welding, and xenon finds applications in lighting, imaging, and as a propellant in ion thrusters. With the development of industrial production and science and technology, noble gases are more and more widely used in industry, medicine, cutting-edge science and technology and even daily life.

Market Overview:

The latest research study on the global Rare Gases market finds that the global Rare Gases market reached a value of USD 11211.62 million in 2022. It’s expected that the market will achieve USD 8981.97 million by 2028, exhibiting a CAGR of -3.63% during the forecast period.

Fast-growing demand in emerging economies

The growth of emerging economies in the Asia-Pacific region, such as China, India, and Southeast Asian countries, has a substantial impact on the rare gases market. These economies are experiencing rapid industrialization, infrastructure development, and technological advancements, which contribute to the increased demand for rare gases in various sectors.
Countries in Southeast Asia and South Asia, represented by Vietnam and India, rely on their low-cost labor advantages and preferential policies to attract foreign investment, and actively undertake international industrial transfer, resulting in some foreign-funded enterprises in China shifting their factories from China to countries such as Vietnam and India. In addition, India has launched a series of policies such as

Made in India and Indian Skills in the past five years, aiming at promoting India to become a global manufacturing center.

In summary, the growing demand for rare gases in emerging economies like Asia-Pacific presents significant opportunities for manufacturers. The expanding industrial sectors, infrastructure development, energy efficiency initiatives, technological advancements, and the booming healthcare sector in these regions contribute to the increasing demand for rare gases, making it an advantageous market for manufacturers to capitalize on.

Wide downstream application

The extensive downstream application of rare gases has played a crucial role in driving the development of the industry. The unique properties and characteristics of rare gases make them highly valuable and sought-after in various industrial sectors.
For example, Xenon and krypton are used in a wide range of industrial technologies such as electronics, medical devices, gas lasers and plasma flow. In the field of electronics, xenon is an important component of the use of electronic special gas in the ion implantation production stage, while krypton gas is an important component of the electronic special gas used in the photoresist printing production stage.
The extensive downstream applications of rare gases have not only driven the growth of the industry but have also led to continuous innovations, advancements in technology, and the exploration of new applications. The increasing demand from multiple industries has stimulated the development of the rare gases industry and motivated research and investment in this field.

Region Overview:

Asia Pacific had the highest growth rate of all regions in 2022.
In 2022, the share of the Rare Gases market in North America stood at 39.99%.

Company Overview:

Linde is one of the major players operating in the Rare Gases market, holding a share of 29% in 2023.

Linde

Linde is an industrial gas and engineering company. It supplies industrial, process, and specialty gases. The company's products include atmospheric gases such as oxygen, nitrogen and argon; and process gases including carbon dioxide, helium, hydrogen, electronic gases and acetylene. Linde also designs, engineers, and builds equipment that produce gases for internal use and offers a wide range of gas production and processing services.

Air Liquide

Air Liquide supplies industrial gases and services to various industries including medical, chemical and electronic manufacturers.

Segmentation Overview:

The Neon segment by type showed a value growth of 1102.7% in 2022.

Among different product types, Helium segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Large Industries segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Rare Gases market covered in Chapter 3:

Iwatani Corp.
Messer Group
AirPower Technologies Limited
Ingas
Linde
Air Products
Cryoin Engineering
Chromium
Nippon Sanso Holdings Corporation
Hangzhou Oxygen Plant Group Co.,ltd.
Air Liquide

In Chapter 4 and Chapter 14.2, on the basis of types, the Rare Gases market from 2018 to 2029 is primarily split into:

Helium
Neon
Argon
Krypto
Xenon

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Rare Gases market from 2018 to 2029 covers:

Large Industries
Electronics
Healthcare
Aerospace
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)