Rare Gas Market
Rare Gas Market Size, Share, and Trends Analysis Report, By Gas Type (Argon, Krypton, Neon, Xenon, and Helium), By Supply Mode (Cylinders, Bulk & Micro Bulk, Drum Tanks, and On-Site), By Application (Healthcare, Manufacturing, Electronics, Laser, Lighting, and Others), Forecast Period 2022-2028 Update Available - Forecast 2024-2030
Rare gas market is anticipated to grow at a CAGR of 5.2% during the forecast period. Rare gases such as argon, krypton, neon, xenon, and helium are gaining immense popularity in various end-user applications which include healthcare, manufacturing, electronics, laser, lighting, and others owing to their unique physical and chemical properties. The increasing demand from electronics and automotive industries in emerging countries such as China and India is witnessing rapid economic growth. The healthcare industry is also serving new growth opportunities to the market as rare gases such as helium and oxygen are widely used in to treat various diseases, including emphysema, asthma, and other respiratory diseases. In addition, helium has been extensively used in MRI machines to cool superconductive magnets. It is also used in helium-neon eye surgeries. Moreover, the demand for rare gas is surging owing to increasing healthcare expenditure, rapid technological advancements, and the rising consumption of substantial volumes of specialty gas in therapies. This, in turn, drives the growth of the market.
Apart from these, the rising adoption of rare gases in high-temperature metallurgical procedures is also helping in widening the market growth. Growth in the welding and metallurgical sector is anticipated to spur demand for gases such as argon. In addition, rising investments in R&D for developing noble gas-based devices are expected to fuel market growth.
Segmental Outlook
The global rare gas market is segmented based on type, supply mode, and application. Based on gas type, the market is sub-segmented into argon, krypton, neon, xenon, and helium. Among these, the helium rare gas segment is expected to hold a lucrative market share during the forecast period. The increasing consumption of helium in the electronics and semiconductor industry and the growing usage in the healthcare industry are likely to drive the market demand, which in turn, will boost segment growth. Whereas increasing demand for smartphones and GPS-enabled vehicles are further expected to create sales prospects for helium gas over the forecast period. Based on supply mode, the market is subdivided into cylinders, bulk & micro bulk, drum tanks, and on-site. Further, based on application, the market is sub-categorized into healthcare, manufacturing, electronics, laser, lighting, and others. Among these, the healthcare segment is likely to hold the largest share among other end-users. Rare gases are gaining immense popularity in the healthcare industry which is driving the segment growth. For instance, helium can reach a temperature of -269° C, making liquid helium the best option for cooling the magnets of MRI machines. Helium is also being used for breathing observation.
Regional Outlook
Geographically, the global market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, North America held the highest share and dominated the market in 2021. The region is further likely to contribute a high share of the market growth. The US and Canada are the two major economies contributing a prominent share to the market growth. Moreover, massive investments in production technologies in North America are anticipated to surge the demand for rare gas in the region in the coming years.
Global Rare Gas Market Growth, By Region 2022-2028
Asia-Pacific Emerge as Fastest Growing in Rare Gas Market Share
The Asia-Pacific is projected to be the fastest-growing in global rare gas market growth. The regional growth is attributed to the increased rare gases demand from end-user industries such as healthcare, semiconductors, and others. In addition, the evolution of various alternative technologies, increasing need for electronic products, and growing energy demands are also crucial factors powering rare gas market growth. China and Japan are expected to hold a high share during the forecast period. The initiatives taken by governments of different countries of Asia Pacific to strengthen their manufacturing and electronics industries in the form of subsidies and supportive policies, as well as increasing foreign investments, are expected to expand product demand in these economies over the forecast period.
Market Players Outlook
The major market players in the global rare gas market include Praxair Inc., Airgas Inc., The Linde Group, Air Liquide S.A, Air Products and Chemicals Inc., Messer Group, Iceblick Ltd., Iwatani Corp, and among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2022, Airgas launched its new campaign embodied in the theme line “Fill Your Potential” to enhance its brand, inspire customers and associates, attract new customers, and build brand loyalty.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rare gas market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Airgas, Inc.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Air Liquide S.A.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Linde Group
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Rare Gas Market by Gas Type
4.1.1. Argon
4.1.2. Krypton
4.1.3. Neon
4.1.4. Xenon
4.1.5. Helium
4.2. Global Rare Gas Market by Supply Mode
4.2.1. Cylinders
4.2.2. Bulk & Micro Bulk
4.2.3. Drum Tanks
4.2.4. On-Site
4.3. Global Rare Gas Market by Application
4.3.1. Healthcare
4.3.2. Manufacturing
4.3.3. Electronics
4.3.4. Laser
4.3.5. Lighting
4.3.6. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Advanced Specialty Gases, Inc
6.2. Air Products and Chemicals, Inc.
6.3. American Gas Products
6.4. Axcel Gases
6.5. Dakota Gasification, Co.
6.6. Electronic Fluorocarbonsl, LLC
6.7. Iceblick, Ltd.
6.8. Inc., Air Water, Inc.
6.9. Iwatani Corp.
6.10. Matheson Tri-Gas, Inc.
6.11. Messer Group GmbH
6.12. Nova Gas Technologies, Inc.
6.13. Praxair, Inc
6.14. Specgas, Inc.
6.15. Specialty Chemical Products, Inc.
1. GLOBAL RARE GAS MARKET RESEARCH AND ANALYSIS BY GAS TYPE, 2021-2028 ($ MILLION)
2. GLOBAL ARGON GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL KRYPTON GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL NEON GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL XENON GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL HELIUM GAS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL RARE GAS MARKET RESEARCH AND ANALYSIS BY SUPPLY MODE, 2021-2028 ($ MILLION)
8. GLOBAL RARE GAS IN CYLINDERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL RARE GAS IN BULK & MICRO BULK MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL RARE GAS IN DRUM TANKS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL RARE GAS IN ON-SITE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL RARE GAS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
13. GLOBAL RARE GAS IN HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL RARE GAS IN MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL RARE GAS IN ELECTRONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL RARE GAS IN LASER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL RARE GAS IN LIGHTING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL RARE GAS IN OTHER END-USER INDUSTRIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
19. GLOBAL RARE GAS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
20. NORTH AMERICAN RARE GAS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. NORTH AMERICAN RARE GAS MARKET RESEARCH AND ANALYSIS BY GAS TYPE, 2021-2028 ($ MILLION)
22. NORTH AMERICAN RARE GAS MARKET RESEARCH AND ANALYSIS BY SUPPLY MODE, 2021-2028 ($ MILLION)
23. NORTH AMERICAN RARE GAS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
24. EUROPEAN RARE GAS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. EUROPEAN RARE GAS MARKET RESEARCH AND ANALYSIS BY GAS TYPE, 2021-2028 ($ MILLION)
26. EUROPEAN RARE GAS MARKET RESEARCH AND ANALYSIS BY SUPPLY MODE, 2021-2028 ($ MILLION)
27. EUROPEAN RARE GAS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC RARE GAS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC RARE GAS MARKET RESEARCH AND ANALYSIS BY GAS TYPE, 2021-2028 ($ MILLION)
30. ASIA-PACIFIC RARE GAS MARKET RESEARCH AND ANALYSIS BY SUPPLY MODE, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC RARE GAS MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2021-2028 ($ MILLION)
32. REST OF THE WORLD RARE GAS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
33. REST OF THE WORLD RARE GAS MARKET RESEARCH AND ANALYSIS BY GAS TYPE, 2021-2028 ($ MILLION)
34. REST OF THE WORLD RARE GAS MARKET RESEARCH AND ANALYSIS BY SUPPLY MODE, 2021-2028 ($ MILLION)
35. REST OF THE WORLD RARE GAS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. GLOBAL RARE GAS MARKET SHARE BY GAS TYPE, 2021 VS 2028 (%)
2. GLOBAL RARE GAS MARKET SHARE BY SUPPLY MODE, 2021 VS 2028 (%)
3. GLOBAL RARE GAS MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
4. GLOBAL RARE GAS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
5. GLOBAL ARGON GAS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL KRYPTON GAS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL NEON GAS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL XENON GAS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL HELIUM GAS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL RARE GAS IN CYLINDERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL RARE GAS IN BULK & MICRO BULK MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL RARE GAS IN DRUM TANKS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL RARE GAS IN ON-SITE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL RARE GAS IN HEALTHCARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL RARE GAS IN MANUFACTURING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL RARE GAS IN ELECTRONICS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. GLOBAL RARE GAS IN LASER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL RARE GAS IN LIGHTING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL RARE GAS IN OTHER END-USER INDUSTRIES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. US RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
21. CANADA RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
22. UK RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
23. FRANCE RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
24. GERMANY RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
25. ITALY RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
26. SPAIN RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF EUROPE RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
28. INDIA RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
29. CHINA RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
30. JAPAN RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
31. SOUTH KOREA RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
32. REST OF ASIA-PACIFIC RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF THE WORLD RARE GAS MARKET SIZE, 2021-2028 ($ MILLION)
