A new report from Transparency Market Research states the noble gases market; helium, xenon, neon, krypton, and argon, is expected to reach 202.2bn by 2019.
According to the report, the global noble gases market was estimated to be 179.2bn litres in 2012 and is expected to reach 202.2bn litres by 2019, growing at a CAGR of 1.74% from 2013 to 2019.
Rising demand for energy efficient lighting solutions, impending and enacted energy efficient building codes are thereby generating the demand for insulated windows supplemented by rising health concerns are likely to attribute the overall market growth in the coming two to four years.
Price fluctuations owing to economic instability coupled with utilisation of alternate gases such as nitrogen and hydrogen are some of the key challenges to the market growth. Proliferation of new technologies across the world is likely to generate new opportunities for the market.
Key product segments analysed in this study include helium, neon, krypton, xenon and argon. Helium segment dominated the overall market, accounting to 99.21% share in 2012. Excluding helium, neon and argon dominated the noble gases market in 2012 amidst the rare gases (neon, xenon, argon and krypton). Apparently, it is evident that the demand for krypton and xenon is expected to rise rapidly in the coming four to five years.
North America dominated the global noble gases market in 2012, accounting for 32.09% share of the market. Asia Pacific followed North America in terms of market share and is expected to dominate the overall market by 2019 owing to growing applications in the construction and healthcare industry.
China and Japan held majority of market share in Asia-Pacific region. Apparently, economic meltdown in Europe and North America withered the market growth declining the demand for noble gases. Developing economies in the region are driving the market.
Some of the key players of the market include Air Liquide S.A., Airgas Inc., Air Products and Chemicals Inc., Praxiar Inc., The Linde Group, Ellenbarrie Industrial Gases Ltd., Proton Gases and Universal Industrial Gases Inc. The report provides an overview of these companies followed by their financial revenue, business strategies, and recent developments.
The research analyses and estimates the performance and market of noble gases in the global scenario, providing detailed trend analysis of the market by geography and comprehensive analysis of companies that are dealing in noble gases manufacturing.
A Hot Topic regarding noble and rare gases will address the market, and issues with supply, in September’s issue of gasworld magazine. Don’t miss it!