Rare Gases Market Increasing At A Phenomenal Pace To Reach $52.88 Million By 2032

Major companies in rare gases market are Noble Gas Solutions, Praxair Inc., Linde, Airgas Inc, Air Products and Chemicals, Advanced Specialty Gases Inc., Air Liquide, Ellenbarrie Industrial Gases Ltd., Messer Group and Iwatani Corporation among others. These players are set to bolster the development of global rare gases market.

According to Zion Market Research, the global Rare Gases Market was worth USD 30.08 Million in 2023. The market is forecast to reach USD 52.88 Million by 2032, growing at a compound annual growth rate (CAGR) of 6.47% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Rare Gases Market industry over the next decade.

This review is based on a report by Zion market research, titled “rare gases market by type (neon, krypton, xenon and others) by functions (illumination, insulation, satellites, anaesthesia and others), by end user (manufacturing & construction, electronics, automotive and transportation equipment, aerospace, health care), by transportation mode (bulk and micro bulk delivery, cylinders & liquid containers, tonnage distribution and others) and by region: global industry perspective, comprehensive analysis and forecast, 2024-2032.”

Increasing Applications In Industries To Spur Growth

“The rapidly increasing applications of rare gases in the end-user industries will garner the growth for rare gases market in the years ahead,” says the author of this study. In addition to this, new energy-efficient codes are the main reason that has driven the growth of the global market. In addition to this, increasing oil prices are also boosting the growth of the global market. Additionally, affordable cost of labour is also driving the growth of the global market. Furthermore, high demand from the industry is also powering the growth of the global rare gases market.

Huge job opportunities are also one of the main reasons that are towering the global market. In addition to this, demand for greener building structures is also lowering the growth of the global market. Besides, increasing electronics industry is also driving the growth of the global market. Furthermore, high government mandates are also powering the growth of the global rare gases market.

On the other hand, high cost for transportations is the main reason hampering the growth of global rare gases market. Besides, the high cost of ownership for the processing of rare gases is one of the reasons that are decreasing the growth of the global market. Moreover, high cost for raw material is also one of the significant reasons that are restraining the growth of the global market.

Rising Manufacturing Activities To Support Asia-Pacific Growth

Regionally, Asia-pacific has been one of leading the worldwide rare gases market and is anticipated to continue to grow in the years to come, states the rare gases market study. New energy-efficient codes and increasing oil prices are boosting the global market in the U.S. and Canada. Demand for greener building is towering the global market in countries such as India and China. The Rest of the World will witness a moderate growth in the global market in the coming future.

Browse the full “Rare Gases Market By Type (Helium, Neon, Krypton, Xenon And Others) By Functions (Illumination, Insulation, Satellites, Anesthesia And Others), By End User (Manufacturing & Construction, Electronics, Automotive And Transportation Equipment, Aerospace, Health Care), By Transportation Mode (Bulk And Micro Bulk Delivery, Cylinders & Liquid Containers, Tonnage Distribution And Others) And By Region: Global Industry Perspective, Comprehensive Analysis And Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/rare-gases-market

The global rare gases market is segmented as follows:

By Type

• Neon
• Helium
• Krypton
• Xenon
• Others

By Functions

• Illumination
• Insulation
• Satellites
• Anesthesia
• Others

By End Use

• Manufacturing & Construction
• Electronics
• Automotive And Transportation Equipment
• Aerospace
• Health Care

By Transportation Mode

• Bulk And Micro Bulk Delivery
• Cylinders & Liquid Containers
• Tonnage Distribution
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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