Noble Gas Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global Noble Gas market, historically known as inert gases, is projected to experience significant growth during the forecast period, according to a recent market report. The market, valued at USD 2319.5 million in 2021, is predicted to grow at a Compound Annual Growth Rate (CAGR) of 5.4 percent. Rising demand for noble gases in the healthcare and industrial sectors, along with favorable government policies, are expected to drive market expansion.

Helium Gas Sector to Lead the Market

The helium gas sector is set to dominate the market throughout the forecast period, primarily driven by increasing demand from end-use industries such as manufacturing, aerospace, and healthcare. Additionally, helium gas is finding expanded application scope in cryogenics analytical applications, further fueling its growth.

COVID-19 Impact on the Noble Gas Market

The COVID-19 pandemic has had a mixed impact on the noble gas market. On one hand, the demand for noble gases in the healthcare industry increased significantly, especially for respiratory care due to the virus's impact on patients' lungs. To fulfill this demand, industry manufacturers have been establishing additional noble gas manufacturing facilities to boost production capacity.

However, the pandemic also led to a drop in demand from commercial end-users and industries due to global lockdowns. Many important end-use sectors, including electronics, lighting, aeronautics, and healthcare, faced manufacturing process restrictions, hampering the noble gases market's development potential.

Drivers for Market Growth

The market's growth is supported by several factors. Firstly, the increasing need for steel, driven by a surge in construction and car manufacturing following the pandemic, is expected to boost demand for noble gases. Argon, in particular, plays a vital role in steel manufacturing processes, protecting the metals from deterioration.

Secondly, expanding research efforts to create new chemical compounds involving noble gases are driving growth. Despite their historical reputation for being unreactive, scientists are finding ways to elicit reactivity from these elements, leading to new chemical applications.

Challenges in the Market

The noble gas market faces challenges due to fluctuating production costs. Except for helium, all inert gas pricing is individually negotiated between users and manufacturers, leading to price fluctuations. Moreover, increased energy costs and price changes are affecting the supply networks for rare-earth elements, making it challenging for manufacturers to offer high-quality products while remaining profitable.

Segment Overview

Helium is projected to dominate the market due to its widespread applications in healthcare, aerospace, automotive, and manufacturing industries. Unlike other noble gases, helium cannot be extracted from the atmosphere and is produced as a byproduct of natural gas extraction.

The healthcare sector holds the largest market share among various end-use industries, with noble gases being extensively used in medical applications, including MRI equipment cooling and respiratory disorders treatment.

Regional Landscape

North America is expected to be the leading revenue contributor in the noble gas market. The region's significant demand for consumer and investment goods, particularly in the United States, drives its growth. Large-scale production and investments in air separation techniques and technologies further support the region's market dominance.

Key Market Players

Several prominent companies operate in the noble gas market, including Airgas Inc., Air-Liquide, Air products and chemicals Inc., BASF SE, American Gas, Gulf Cryo, Royal Dutch Shell PLC., Linde AG., Praxair Technology Inc., and RasGas Company Limited. These players are continuously investing in research and development to meet the increasing demand and stay ahead in the competitive market landscape.

1. Executive Summary

1.1. Global Noble Gas Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
  - 2.2.1.1. Driver A
  - 2.2.1.2. Driver B
  - 2.2.1.3. Driver C
- 2.2.2. Restraints
  - 2.2.2.1. Restraint 1
  - 2.2.2.2. Restraint 2
- 2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Pre-Covid and Post-Covid Scenario
- 2.5.2. Supply Impact
- 2.5.3. Demand Impact
2.6. Impact of Russia-Ukraine Conflict on the Global Noble Gas Market
2.7. Government Regulations
2.8. Technology Landscape
2.9. Economic Analysis
2.10. PESTLE

3. Production Output and Trade Statistics, 2018 - 2022

3.1. Regional Production Statistics
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East & Africa
3.2. Trade Statistics
3.3. Supply Impact Russia-Ukraine Conflict

4. Price Trends Analysis and Future Projects, 2018 - 2030

4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Gas Type
4.4. By Region

5. Global Noble Gas Market Outlook, 2018 - 2030

5.1. Global Noble Gas Market Outlook, by Agriculture Method, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. Helium
  - 5.1.1.2. Argon
  - 5.1.1.3. Krypton
  - 5.1.1.4. Neon
  - 5.1.1.5. Xenon
  - 5.1.1.6. Misc.
5.2. Global Noble Gas Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Medical Devices
  - 5.2.1.2. Electronics
  - 5.2.1.3. Metallurgy
  - 5.2.1.4. Welding Consumables
  - 5.2.1.5. Construction
  - 5.2.1.6. Lighting and Imaging
  - 5.2.1.7. Glass Insulation
  - 5.2.1.8. Satellites
  - 5.2.1.9. Misc.
- 5.2.2. BPS/Market Attractiveness Analysis
5.3. Global Noble Gas Market Outlook, by Region, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. North America
  - 5.3.1.2. Europe
  - 5.3.1.3. Asia Pacific
  - 5.3.1.4. Latin America
  - 5.3.1.5. Middle East & Africa
- 5.3.2. BPS/Market Attractiveness Analysis

6. North America Noble Gas Market Outlook, 2018 - 2030

6.1. North America Noble Gas Market Outlook, by Agriculture Method, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. Helium
  - 6.1.1.2. Argon
  - 6.1.1.3. Krypton
  - 6.1.1.4. Neon
  - 6.1.1.5. Xenon
  - 6.1.1.6. Misc.
6.2. North America Noble Gas Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Medical Devices
  - 6.2.1.2. Electronics
  - 6.2.1.3. Metallurgy
  - 6.2.1.4. Welding Consumables
  - 6.2.1.5. Construction
  - 6.2.1.6. Lighting and Imaging
  - 6.2.1.7. Glass Insulation
  - 6.2.1.8. Satellites
  - 6.2.1.9. Misc.
6.3. North America Noble Gas Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. U.S.
  - 6.3.1.2. Canada
- 6.3.2. BPS/Market Attractiveness Analysis

7. Europe Noble Gas Market Outlook, 2018 - 2030

7.1. Europe Noble Gas Market Outlook, by Agriculture Method, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. Helium
  - 7.1.1.2. Argon
  - 7.1.1.3. Krypton
  - 7.1.1.4. Neon
  - 7.1.1.5. Xenon
  - 7.1.1.6. Misc.
7.2. Europe Noble Gas Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Medical Devices
  - 7.2.1.2. Electronics
  - 7.2.1.3. Metallurgy
  - 7.2.1.4. Welding Consumables
  - 7.2.1.5. Construction
  - 7.2.1.6. Lighting and Imaging
  - 7.2.1.7. Glass Insulation
  - 7.2.1.8. Satellites
  - 7.2.1.9. Misc.
7.3. Europe Noble Gas Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Germany
  - 7.3.1.2. France
  - 7.3.1.3. U.K.
  - 7.3.1.4. Italy
  - 7.3.1.5. Spain
  - 7.3.1.6. Russia
  - 7.3.1.7. Rest of Europe
- 7.3.2. BPS/Market Attractiveness Analysis

8. Asia Pacific Noble Gas Market Outlook, 2018 - 2030

8.1. Asia Pacific Noble Gas Market Outlook, by Agriculture Method, Volume (Tons) and Value (US$ Mn), 2018-2030
- 8.1.1. Key Highlights
  - 8.1.1.1. Helium
  - 8.1.1.2. Argon
  - 8.1.1.3. Krypton
  - 8.1.1.4. Neon
  - 8.1.1.5. Xenon
  - 8.1.1.6. Misc.
8.2. Asia Pacific Noble Gas Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Medical Devices
  - 8.2.1.2. Electronics
  - 8.2.1.3. Metallurgy
  - 8.2.1.4. Welding Consumables
  - 8.2.1.5. Construction
  - 8.2.1.6. Lighting and Imaging
  - 8.2.1.7. Glass Insulation
  - 8.2.1.8. Satellites
  - 8.2.1.9. Misc.
8.3. Asia Pacific Noble Gas Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. China
  - 8.3.1.2. Japan
  - 8.3.1.3. South Korea
  - 8.3.1.4. India
  - 8.3.1.5. Southeast Asia
  - 8.3.1.6. Rest of Asia Pacific
- 8.3.2. BPS/Market Attractiveness Analysis

9. Latin America Noble Gas Market Outlook, 2018 - 2030

9.1. Latin America Noble Gas Market Outlook, by Agriculture Method, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 9.1.1. Key Highlights
  - 9.1.1.1. Helium
  - 9.1.1.2. Argon
  - 9.1.1.3. Krypton
  - 9.1.1.4. Neon
  - 9.1.1.5. Xenon
  - 9.1.1.6. Misc.
9.2. Latin America Noble Gas Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018-2030
- 9.2.1. Key Highlights
  - 9.2.1.1. Medical Devices
  - 9.2.1.2. Electronics
  - 9.2.1.3. Metallurgy
  - 9.2.1.4. Welding Consumables
  - 9.2.1.5. Construction
  - 9.2.1.6. Lighting and Imaging
  - 9.2.1.7. Glass Insulation
  - 9.2.1.8. Satellites
  - 9.2.1.9. Misc.
9.3. Latin America Noble Gas Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 9.3.1. Key Highlights
  - 9.3.1.1. Brazil
  - 9.3.1.2. Mexico
  - 9.3.1.3. Rest of Latin America
- 9.3.2. BPS/Market Attractiveness Analysis

10. Middle East & Africa Noble Gas Market Outlook, 2018 - 2030

10.1. Middle East & Africa Noble Gas Market Outlook, by Agriculture Method, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 10.1.1. Key Highlights
  - 10.1.1.1. Helium
  - 10.1.1.2. Argon
  - 10.1.1.3. Krypton
  - 10.1.1.4. Neon
  - 10.1.1.5. Xenon
  - 10.1.1.6. Misc.
10.2. Middle East & Africa Noble Gas Market Outlook, by Application Type, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 10.2.1. Key Highlights
  - 10.2.1.1. Medical Devices
  - 10.2.1.2. Electronics
  - 10.2.1.3. Metallurgy
  - 10.2.1.4. Welding Consumables
  - 10.2.1.5. Construction
  - 10.2.1.6. Lighting and Imaging
  - 10.2.1.7. Glass Insulation
  - 10.2.1.8. Satellites
  - 10.2.1.9. Misc.
10.3. Middle East & Africa Noble Gas Market Outlook, by Country, Volume (Tons) and Value (US$ Mn), 2018 - 2030
- 10.3.1. Key Highlights
  - 10.3.1.1. GCC
  - 10.3.1.2. South Africa
  - 10.3.1.3. Rest of Middle East & Africa
- 10.3.2. BPS/Market Attractiveness Analysis

11. Competitive Landscape

11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Company Profiles
- 11.3.1. Air Products and Chemicals Inc.
  - 11.3.1.1. Company Overview
  - 11.3.1.2. Product Portfolio
  - 11.3.1.3. Financial Overview
  - 11.3.1.4. Business Strategies and Development
- 11.3.2. Cryoin Engineering Ltd.
- 11.3.3. Ingas LLC
- 11.3.4. Linde Plc
- 11.3.5. Taiyo Nippon Sanso Group
- 11.3.6. Air Liquide SA
- 11.3.7. Praxair, Inc.
- 11.3.8. Guanggang Gases & Energy
- 11.3.9. BASF SE
- 11.3.10. Gazprom
- 11.3.11. Yingde Gases Group Co. Ltd.
- 11.3.12. AZOVSTAL IRON & STEEL WORKS
- 11.3.13. Norco Inc.
- 11.3.14. Messer
- 11.3.15. Iwatani Corporation

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations