Noble or inert gases are other names for rare gases. It is a collection of elements with comparable properties. Neon, helium, argon, krypton, radon and xenon are six uncommon gases naturally. The gases are colorless, odorless, have low/no reactivity, inflammable, tasteless, odorless and volatile, having a wide range of applications, giving them a competitive advantage over ordinary gases. Rare gas uses in specialized markets such as laser technology, window insulations, energy-efficient manufacturing, semiconductors and electronics are likely to boost the market growth.
Market Size Growth Rate:
As per the research report by DataM Intelligence, the global rare gas market size was valued at USD YY billion in 2021; it is projected to reach USD YY billion by 2029, with growth at a CAGR of 6.0% over the forecast period 2022-2029. The rare gas market includes various applications such as filler gas, loadlock cooling, carrier gas, silicon ingot production, plasma, sputtering, and cryogenic cleaning. The unique property of rare gas is to produce bright light, which may be in the form of a laser (helium/neon laser) or a light source (xenon). Rare gas discharges have focused on intense research for more than a century. On the other hand, low-pressure discharges in rare gases have never been used for general lighting. The most readily excited radiation spectrum is in the VUV and the phosphor conversion efficiency to visible light is inefficient.
The rare gas market is driven by the high demand from various industries to replace conventional operations with energy-efficient substitutes. Almost 3.7 billion people generate more than 2.5 quintillion bytes of data daily. The rare gas market is expected to increase significantly, reaching 160 zettabytes per year in 2025, requiring high demand for storage devices. The air in hard drives has been replaced with helium gas. The use of helium reduces the amount of drag, thereby reducing the energy needed to spin the platters by 20%. Companies like Amazon, Google and Facebook require tons of it for massive data centers, surging the demand for the helium-driven territory of zettabytes.
Additionally, the use of gases like krypton is becoming more prevalent in the lighting industry. Now, the auto industry sells headlights that function using krypton. Rare gas is also utilized as a filler in halogen lamps, energy-saving bulbs and gas discharge tubes in lit billboards. The healthcare industry also relies heavily on rare gases. Pharma-grade rare gases are anticipated to meet pharmacopeia criteria to a high degree. Because the pharmaceutical and healthcare industries are so concerned with patient safety, high-purity rare gases are in high demand.
The high cost of rare gas storage & transportation is projected to restrain the rare gas market expansion. The high cost of transportation and storage associated with the necessity for special preparations influences the market for rare gases. Another significant issue limiting market expansion is the high cost of handling rare gases.
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The rapidly growing healthcare sector provides vast opportunities for the rare gas market. Helium gas is used in MRI because it boils at 4.2K in liquid form, which is the ideal temperature for superconductive magnet coils in MRI magnets. However, other rare gases have also been recently utilized to identify new areas in MRI technology. UK researchers have taken MRI imaging to the next level with a scanning method that delivers high-resolution images of lung disease and pulmonary tissue. The imaging technique utilizes specially treated krypton gas that can be inhaled and employed as a contrast agent to reveal new lung areas on an MRI scan.
Unlike other hyperpolarized noble gases, krypton provides pulmonary diagnostics without requiring an MRI scanner. Xenon MRI offers the ability to provide a detailed, quantitative image of the lung’s shape and function. The hyperpolarized gas has been developed to boost the MRI signal, allowing lung function and regional ventilation to be seen on a scan. Xenon MRI can potentially allow for the investigation of pulmonary function in ways that current lung imaging and diagnostic technologies cannot.
COVID-19 Impact Analysis
The pandemic broke out for more than a year, sending shockwaves to virtually every aspect of existence. COVID-19 infectious virions are present on various surfaces (e.g., metals, plastic and cardboard) for several hours. It presents a transmission cycle for the infection that can be broken by designing new inactivation approaches. An efficient cold atmospheric plasma has been used with argon feed gas to inactivate SARS-CoV-2 on various surfaces, including plastic, cardboard, basketball composite leather, football leather, metal and baseball leather.
The results reveal the great potential of CAP as an effective and safe means to prevent virus transmission and infections on surfaces that experience regular human contact. It is a substantial milestone in preventing and treating COVID-19 and presents a new opportunity for the engineering, scientific and medical communities. Global helium markets have been affected by COVID-19 in several ways. The most significant impact has been reduced demand. Initially, China’s second-largest helium market’s demand was reduced greatly when the Chinese economy was put on lockdown.
A major challenge in front of the market is the ongoing conflict between Russia and Ukraine. Various countries were dependent on Ukraine for the supply of rare gases. South Korean companies are continuously monitoring the situation as Western sanctions on Russia over the Ukraine-Russia geopolitical crisis may endanger the supply chains of the country’s key exports such as semiconductors, batteries and automotive. As Korea imports 23% of neon, 30.7% of krypton and 17.8% of xenon from Ukraine, the crisis can push their prices and cause difficulties in their supply chains. Moreover, Top chipmakers in South Korea and Taiwan are reviewing their stockpiles of critical industrial gases after Russia’s invasion of Ukraine sparked fears of supply chain disruption that could exacerbate a chip shortage.
Recent Developments in the Industry:
- In February 2022, Electronic Fluorocarbons, LLC issued a press release regarding the tensions in Ukraine. Ukraine is one of the world’s biggest providers of rare gases. The company detailed that it had sufficient reserves to meet the demand for 2022 and is taking extra steps to ensure the stability of its supply chain.
- In October 2021, Iwatani Corporation’s subsidiary in Thailand announced the construction of the Bangkok Helium Gas Centre in Samut Sakhon Province, Thailand. It will expand the industrial gas production capacity, mainly for helium and will strengthen the company’s offerings for the Southeast Asia region.
As per the research analysis, the global rare gas market is segmented by end-user into electronics, healthcare, automotive, aerospace and manufacturing.
- Electronics: Since the beginning, rare gases have been used in electronic device manufacture, allowing for vital operations and ever-more sophisticated designs and products. Manufacturers and gas suppliers have evolved alongside the industry, expanding output, developing new materials and achieving extraordinary purity and quality control levels.
- Healthcare: In healthcare, rare gases, including Helium, neon, argon, krypton, xenon and radon, have many applications. Helium and xenon are the gases that have found the most applications in anesthesia and allied specialties. Helium gas is employed in some of the most crucial procedures in the medical business. In addition, Helium has a wide range of uses due to its unique chemical and physical properties, including low density, low solubility and high thermal conductivity.
- Automotive: In recent decades, the use of rare gases in the automotive sector has expanded dramatically. Xenon is used in car headlights, while argon is used in indication lamps. Further, lasers are used to cut sheet metal for doors and automobile bodies using particular gas combinations. The rising use of xenon headlights in automobiles, combined with legislation requiring energy-saving bulbs, has driven greater demand for this gas. The automotive industry’s move to xenon lights is motivated by more than just brightness. A reduction in energy and fuel use was also enticing.
- Aerospace: Inert gases like argon and xenon are used in aircraft operations, maintenance and repairs in the aerospace industry. Xenon is the most commonly utilized rare gas in aircraft, with a strong ionization potential, high density and low heat capacity. Ion engines are a novel method of propulsion for rockets and satellites in space. In such ion thrust propulsion, highly purified xenon is used. Ion beams are created by ionizing xenon and accelerating the ions with an electrical or magnetic field. In addition, xenon’s large molecular weight boosts the impulse performance of electron thrusters, giving them a high thrust-to-weight ratio.
- Manufacturing: Rare gases are used in various manufacturing processes, including creating light bulbs, metal, windows, polymers and other bought raw materials. Rare gases are critical in producing light bulbs comprising argon, neon, krypton and xenon in the lighting industry. The gases also bridge the gap between double-glazed windows, ensuring that our modern structures are well-insulated and energy-efficient. Many manufacturing processes, such as hydrogen and nitrogen mixtures in metal heat treatment, rely on them to induce hardness and other physical qualities.
According to the report, the global rare gas market is divided into regions, i.e., North America, South America, Europe, Asia-Pacific and Middle East & Africa.
Global Rare Gas Market:
North America now has the largest market share for rare gas globally with continued government energy-efficiency measures. In the short term, the dominance is expected to persist. The rising demand for rare gases is likely to be boosted by increasing applications in specialist markets such as laser technology, window insulations, energy-efficient manufacturing, semiconductors and electronics. Furthermore, rare gases have features such as being odorless, tasteless and inflammable. Rare gases also allow application-specific alterations, giving them a competitive advantage over conventional gases. As a result, the demand for rare gases has been rising.
U.S. Rare Gas Market: U.S. dominated the region’s rare gas market in 2021. For example, a proposal from U.S. Department of Energy’s Center for Functional Nanomaterials and Nuclear Science & Technology Department was selected as a Technology Commercialization Fund project in 2020, with the startup Forge Nano as a partner. It aims to develop xenon and krypton trapping nano-cages to improve nuclear power generation and waste disposal.
Canada Rare Gas Market: The market has developed with collaborations and expansion to meet the growing industry demand. The Linde Group has boosted its supply of rare gases required by the semiconductor industry, particularly Xenon, in response to the rising demand for etching 3D semiconductor architectures.
Mexico Rare Gas Market: The rising demand for rare gases like helium and neon in medical, military & aerospace applications is expected to drive the market expansion. The expanding number of industries affiliated with the electronics, automotive and construction sectors can also be related to the increase.
The key players are adopting various growth strategies such as product launches, innovative technologies, acquisitions and collaborations, encouraging the growth of the global rare gas market. In September 2020, Air Products Inc. inked a long-term supply contract with a leading chip manufacturer to supply rare gases for its new fabrication plant in Penang, Malaysia. The gases will be used for chip assembly and cold testing of finished products.
Major market players contributing to the expansion include Linde PLC, Uniper SE, Air Liquide, Air Products Inc., Matheson Tri-Gas Inc, Iwatani Corporation and Others.
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The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the global rare gas market segmentation by material, modulus, tow size, application, end-user and country, highlighting the key commercial assets and players.
- By Type: Helium, Krypton, Neon, Xenon, Argon, Radon
- By Transportation: Cylinders & Liquid Containers, Tonnage Distribution, Bulk And Micro Bulk Delivery, Others
- By Application: Filler Gas, Loadlock Cooling, Carrier Gas, Plasma, Silicon Ingot Production, Sputtering, Cryogenic Cleaning, Others
- By End-User: Electronics, Healthcare, Automotive, Aerospace, Manufacturing
- By Region: North America, South America, Europe, Asia-Pacific, Middle East & Africa
- Identify commercial opportunities in Global Rare Gas Market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
- Excel data sheet with thousands of the global rare gas market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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