Noble Gas Market Size Worth $4.03 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 19, 2022 /PRNewswire/ -- The global noble gas market is expected to reach USD 4.03 billion by 2030, registering a CAGR of 5.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing application cases for noble gases in healthcare and industrial sectors and supportive government policies is expected to boost the market growth.

Key Insights & Findings from the report:

• In 2021, the Helium segment emerged as the largest segment and accounted for 47.81% share owing wide application range in healthcare, manufacturing, and aerospace increasing its demand.
• The U.S. emerged as the largest noble gas market in North America in 2021 The U.S. is the most significant market for noble gas in North America owing to the bulk production of these gas in the country. The production of high-purity noble gas is carried out on a large scale in the U.S. owing to their surged consumption in healthcare applications.
• The healthcare application segment is expected to account for the largest share of the market from 2027 to 2030. Increased preference for noble gas in healthcare facilities owing to their risen applicability rate in medical applications is a factor driving the growth of the healthcare application segment of the market.

Read 98-page market research report, "Noble Gas Market Size, Share & Trends Analysis Report By Product (Helium, Neon, Argon, Krypton, Xenon, Others), By Application (Healthcare, Electronics, Aerospace, Construction, Energy & Power, Others), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Noble Gas Market Growth & Trends

Noble gases are expected to gain preference in the manufacturing industry worldwide owing to their usage in metal melting applications due to their inertness at high temperatures. These gases are used for the distillation of highly pure oxygen by carrying out the cryogenic distillation of air. The flourishing display market worldwide plays a vital role in surging the consumption of noble gases in electronic applications. Improving economic conditions in China and India also contribute to the rising demand for electronic goods, thereby leading to increased consumption of noble gases in these countries.

Rapid growth in end-use industries such as healthcare, manufacturing, chemical, and electronics is expected to drive the noble gas market. These gases have unique properties which benefit many end-use industries by improving yield, optimizing performance, and lowering cost.

The demand for noble gas has increased in the healthcare sector due to the increased hospitalizations. The COVID-19 virus damaging a patient's lungs has led to many serious patients needing respiratory support across the globe increasing the demand for noble gases in the sector. However, demand from industrial and commercial end-users saw a significant dip in 2020 owing to the lockdown imposed in the majority of the countries around the globe.

The demand for noble gas has increased in the healthcare sector due to the increased hospitalizations. The COVID-19 virus damaging a patient's lungs has led to many serious patients needing respiratory support across the globe increasing the demand for noble gases in the sector. However, demand from industrial and commercial end-users saw a significant dip in 2020 owing to the lockdown imposed in the majority of the countries around the globe.

Grand View Research has segmented the global noble gas market based on product, application, distribution, and region:

Noble Gas Market - Product Outlook (Revenue, USD Million, 2019 - 2030)

• Helium
• Neon
• Argon
• Krypton
• Xenon
• Others

Noble Gas Market - Application Outlook (Revenue, USD Million, 2019 - 2030)

• Healthcare
• Electronics
• Aerospace
• Construction
• Energy & Power
• Others

Noble Gas Market - Distribution Outlook (Revenue, USD Million, 2019 - 2030)

• Bulk
• Cylinder
• Others

Noble Gas Market - Regional Outlook (Revenue, USD Million, 2019 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• Russia
• Italy
• Spain
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Central and South America
• Brazil
• Colombia
• Middle East and Africa
• South Africa
• UAE
• Egypt

List of Key Players in Noble Gas Market

• Air Liquide
• Air Products Inc.
• BASF SE
• Linde plc
• Messer
• TAIYO NIPPON SANSO CORPORATION
• Norco Inc.
• Iwatani Corporation
• SHOWA DENKO K.K.
• MESA Specialty Gases & Equipment
• Gulf Cryo

Check out more related studies published by Grand View Research:

• Specialty Gas Market - The global specialty gas market size is expected to reach USD 18.22 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.8% from 2021 to 2028. Increased preference for specialty gases in the healthcare sector owing to an increased rate of applicability in medical applications is a driving factor for the strong market growth.
• Industrial Gases Market - The global industrial gases market size is expected to reach USD 147.1 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.0% from 2021 to 2028. The use of industrial gas in the electronics (photovoltaic) industry for the manufacturing of semiconductors, solar, displays, LED solid-state lighting, wafers, and polysilicon compel the growth prospects for this market.
• Tight Gas Market - The global tight gas market demand is expected to reach 15,452.3 billion cubic feet (BCF) by 2027, ascending at a CAGR of 5.02% from 2020 to 2027, according to a new report by Grand View Research, Inc. The rise in government policies for clean fuel production, along with the deployment of advanced drilling technologies across several countries, is likely to drive the market over the forecast period.

Browse through Grand View Research's Petrochemicals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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