30-Sep-2021 | Zion Market Research
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 analysts at Zion market research, the rare gases market accounted for more than USD 7,364.6 million in 2020 and is expected to reach more than USD 12,897.4 million by 2028, growing at a CAGR of 7.5% from 2021 to 2028.
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, 2020 – 2028.”
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, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/rare-gases-market
The global rare gases market is segmented as follows:
By End Use
By Transportation Mode
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