Noble Gas Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Type (Helium, Krypton, Argon, Neon, Xenon, and Radioactive Radon), Application (Picture Projection, Anesthetic, Welding, Insulation, Lighting, Television Tubes, Advertising, Refrigerant, Working Fluid, and Chemical Analysis), End-user Industry (Oil and Gas, Mining, Healthcare, Aerospace, Energy Efficient Buildings, and Power), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

5 %

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Market Overview

The noble gas market is expected to register a CAGR of more than 5% during the forecast period. Some of the prominent trends that the market is increasing demand in the developing economies, especially in the healthcare industry.

  • Diversified usage of noble gas in various industries as well as growing needs for energy-efficient solutions are likely to drive the market’s growth.
  • Economic slowdown in America and Europe and evolution of substitutable technologies are likely to hinder the market’s growth.

Scope of the Report

The noble gas market report includes:

Type
Helium
Krypton
Argon
Neon
Xenon
Radioactive Radon
Application
Picture Projection
Anesthetic
Welding
Insulation
Lighting
Television Tubes
Advertising
Refrigerant
Working Fluid
Chemical Analysis
End-user Industry
Oil and Gas
Mining
Healthcare
Aerospace
Energy Efficient Buildings
Power
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Healthcare Industry

  • Noble gases find usage in a wide range of applications. They have the highest demand in the medical sector as they are involved in the cooling of superconducting magnets in the magnetic resonance imaging (MRI) scanners.
  • Helium has been effective in a variety of respiratory conditions, including upper airway obstruction, asthma exacerbation, post-extubation strido, etc. Microscopy has opened new possibilities for the use of helium gas in the technologically advanced fields of medicine.
  • Other noble gases, such as argon and xenon, are also used for various medical purpose. Argon is used as anesthetic and neuroprotective agent and xenon is found to be effective in the field of neuroprotective and anesthesia.
  • Moreover, countries, such as China, United States, Japan, etc., are the major countries contributing to the revenue of the healthcare sector. Rising health concerns and focus toward the medical sector in developing economies, mainly in the Asia-Pacific region, including India, Japan, and China, have witnessed a great demand for such gases.
  • Such a positive growth of the health care industry is likely to increase the demand for noble gas in the forecast period.

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United States Country to Dominate the North America Region

  • North America holds the highest market share in terms of revenue, due to the increasing demand for consumer and investment goods, especially in the United States.
  • It is estimated that the noble gas market in the United States is likely to witness a healthy growth, on the account of increased demand from aerospace, oil and gas, health, and laser applications.
  • The presence of large manufacturing industries associated with construction, healthcare, automobiles, and semiconductors is expected to be a factor that will support the growth of the noble gases market in the country.
  • In the oil and gas industry, noble gas is widely used in exploration and production of crude oil. The noble gas data permit an accurate description of complex natural and technological processes involved in exploring and extracting oil and gas discoveries.
  • The United States is the largest producer of crude oil in the world. According to BP, the production of crude in the United Sates was about 15,311 thousand barrels per day, in the recent past. The EIA projected that in 2024 the crude oil production in the United States is likely to witness the growth by around 4%.
  • Owing to the aforementioned factors, the demand for noble gases is expected to increase in various industries, during the forecast period.

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Competitive Landscape

The noble gas market is partially consolidated, with few players holding the major share in the market. Key players in the noble gas market include Royal Dutch Shell Plc, ITM Power, BASF, Linde, Messer, Taiyo Nippon Sanso, and Praxair Technology, Inc., among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Diversified Use in various Industries

      2. 4.1.2 Increasing Demand in the Developing Economies

      3. 4.1.3 Growing Needs for Energy-efficient Solutions

      4. 4.1.4 Growing Demand in the Healthcare Industry

    2. 4.2 Restraints

      1. 4.2.1 Low Reserves in America

      2. 4.2.2 Economic Slowdown in America and Europe

      3. 4.2.3 Evolution of Substitutable Technologies

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Helium

      2. 5.1.2 Krypton

      3. 5.1.3 Argon

      4. 5.1.4 Neon

      5. 5.1.5 Xenon

      6. 5.1.6 Radioactive Radon

    2. 5.2 Application

      1. 5.2.1 Picture Projection

      2. 5.2.2 Anesthetic

      3. 5.2.3 Welding

      4. 5.2.4 Insulation

      5. 5.2.5 Lighting

      6. 5.2.6 Television Tubes

      7. 5.2.7 Advertising

      8. 5.2.8 Refrigerant

      9. 5.2.9 Working Fluid

      10. 5.2.10 Chemical Analysis

    3. 5.3 End-user Industry

      1. 5.3.1 Oil and Gas

      2. 5.3.2 Mining

      3. 5.3.3 Healthcare

      4. 5.3.4 Aerospace

      5. 5.3.5 Energy Efficient Buildings

      6. 5.3.6 Power

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Air Liquide

      2. 6.4.2 Air Products and Chemicals Inc.

      3. 6.4.3 Airgas Inc.

      4. 6.4.4 American Gas

      5. 6.4.5 BASF SE

      6. 6.4.6 Buzwair Industrial Gases Factories

      7. 6.4.7 Gulf Cryo

      8. 6.4.8 ITM Power

      9. 6.4.9 Linde

      10. 6.4.10 Messer

      11. 6.4.11 Praxair Technology, Inc.

      12. 6.4.12 Ras Gas Company Limited

      13. 6.4.13 Royal Dutch Shell PLC

      14. 6.4.14 Taiyo Nippon Sanso

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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