Market Size of Noble Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Noble Gas Market Analysis
The noble gas market is expected to register a CAGR of more than 5% during the forecast period.
COVID-19 had a positive impact on the noble gas market. Noble gases are primarily used in the healthcare sector and were largely unaffected by the COVID-19 pandemic. The demand for helium, neon, and argon increased during the pandemic for medical Purposes, which in turn increased the consumption of noble gases in the healthcare industry.
- Increasing demand from the healthcare industry and the expansion of the steel and automotive industry are expected to drive the noble gas market's growth.
- Growing usage in medical applications is likely to act as an opportunity in the future.
- However, the need for a high-efficient gas-extracting method and fluctuating prices of noble gases are the major factors hindering the growth of the studied market.
- United States is expected to dominate the noble gas market in North America and is also likely to witness the highest CAGR during the forecast period.
