Noble Gas Market Size

Statistics for the 2023 & 2024 Noble Gas market size, created by Mordor Intelligence™ Industry Reports. Noble Gas size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Noble Gas Industry

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Noble Gas Market Summary
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

Noble Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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.

Noble Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)