There were 595 press releases posted in the last 24 hours and 241,669 in the last 365 days.

Global Rare Gas Market is estimated to reach at high CAGR of 8.1% during the forecast period (2022-2029).

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.

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.

To Download free sample @ Click Here

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.

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:

As per the research analysis, the global rare gas market is segmented by end-user into electronics, healthcare, automotive, aerospace and manufacturing.

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.

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.

1) Unlimited Analyst support for 1 year. 

2) Any query regarding the scope offered will be addressed within 24- 48 hours.

3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights.

DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to clients' needs in key business areas. DataM Intelligence has an online platform whose coverage includes industries such as chemicals and materials, agriculture, health care services, animal feed and food & beverages. Our platform has Insights into markets that uncover the latest market research data distinct from the competition. With coverage across ten major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporates ease of access and custom personalization to research and markets.

Media Contact Company Name: DataM Intelligence Contact Person: Sai Email: Send Email Phone: +1 877 441 4866 Country: United States Website: https://www.datamintelligence.com/research-report/rare-gas-market

Press Release Distributed by ABNewswire.com To view the original version on ABNewswire visit: Rare Gas Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

EIN Presswire's priority is source transparency. We do not allow opaque clients, and our editors try to be careful about weeding out false and misleading content. As a user, if you see something we have missed, please do bring it to our attention. Your help is welcome. EIN Presswire, Everyone's Internet News Presswire™, tries to define some of the boundaries that are reasonable in today's world. Please see our Editorial Guidelines for more information.

© 1995-2022 Newsmatics Inc. dba EIN Presswire All Right Reserved.