Noble gases can be segmented into industrial gases and speciality gases. Speciality gases include krypton, neon, and xenon whereas industrial gases include argon, helium, and neon. Helium is a widely used industrial gas and is expected to fuel the growth of the segment. Since 2011, the industry is facing a shortage of helium because the demand is exceeding the current production capacity. Both industrial and speciality gases are expected to show moderate growth in the market and onsite gas segment is the fastest growing one in both industrial and speciality noble gases. The supply argon, krypton, and xenon which are a by-product of large scale oxygen production are driven by the demand for oxygen and not the rare gas.
Environment and semiconductor are the fastest growing application segments in the noble gas industry. The U.S. continues to be the largest market for noble gases followed by Asia-Pacific, Latin America, and the Middle East. Increase in concentration of semiconductor, food and health care industries in India and china will lead to more opportunities for the noble gas industry in the region. It is expected that the noble gas manufactures worldwide will continue to grow as the growth in global market of healthcare, electronics, and the energy sector will drive the demand.
Some of the market players in this industry include Air Products and Chemicals Inc., Praxair Inc., Airgas Inc., Air Liquide, Inc., Taiyo Nippon Sanso Corporation American, Air Liquide Holdings, and the Linde Group.
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