Noble gas includes helium, argon, xenon, radon, krypton and neon which have similar properties under standard conditions. Noble gases are all tasteless, odorless, colorless, and non flammable gases. Helium is obtained from natural gas whereas argon, krypton, neon, and xenon are separated from the air by using the process of fractional distillation and liquefaction of gases. Noble gases play an important role in industries such as space exploration, lighting, and welding. Noble gases have applications in superconducting magnets, cryogenics, semiconductors, satellite propellants, plasma displays and television, gas chromatography, creation of inert atmosphere, light bulbs, excimer lasers, and medicine. Geographically the market is segmented into the U.S., Japan, Canada, Asia-Pacific, Europe, Latin America, and the Middle East.
Noble gases can be segmented into industrial gases and specialty gases. Specialty gases include krypton, neon, and xenon whereas industrial gases include argon, helium, and neon. Helium is a widely used industrial gas and is expected to fuel the growth of the segment. Since 2011, the industry is facing a shortage of helium because the demand is exceeding the current production capacity. Both industrial and specialty gases are expected to show moderate growth in the market and onsite gas segment is the fastest growing one in both industrial and specialty noble gases. The supply argon, krypton, and xenon which are a by-product of large scale oxygen production are driven by the demand for oxygen and not the rare gas.
Environment and semiconductor are the fastest growing application segments in the noble gas industry. The U.S. continues to be the largest market for noble gases followed by Asia-Pacific, Latin America, and the Middle East. Increase in concentration of semiconductor, food and health care industries in India and china will lead to more opportunities for the noble gas industry in the region. It is expected that the noble gas manufactures worldwide will continue to grow as the growth in global market of healthcare, electronics, and the energy sector will drive the demand.
Some of the market players in this industry include Air Products and Chemicals Inc., Praxair Inc., Airgas Inc., Air Liquide, Inc., Taiyo Nippon Sanso Corporation American, Air Liquide Holdings, and the Linde Group.
This research report analyzes this market depending on its market segments, major geographies, and current market trends.
Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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