SAN FRANCISCO, Aug. 25, 2020
SAN FRANCISCO, Aug. 25, 2020 /PRNewswire/ -- The global noble gas market size is expected to reach USD 12.62 billion by 2027, ascending at a CAGR of 7.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing applications across several industries along with the rising demand for energy-efficient systems are some of the factors likely to strengthen the demand for noble gases over the forecast period.
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Read 100 page research report with ToC on "Noble Gas Market Size, Share & Trends Analysis Report By Product (Helium, Neon, Argon, Krypton, Xenon), By End User (Healthcare, Electronics, Aerospace, Construction, Energy & Power), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/noble-gases-market
The market is primarily driven by diversified applications of noble gas across several markets including the semiconductor industry, window insulations, laser technologies, electronics, and energy-efficient lighting industry. Noble gases are non-toxic, non-corrosive, inflammable, colorless, odorless, and tasteless in nature, thereby offering changes as per application that allows a competitive edge over other regular gases.
The COVID-19 pandemic has stimulated the requirement of noble gases in the medical and healthcare sector. For instance, helium gas is used in respiratory condition applications such as asthma exacerbation, upper airway obstruction, post-extubation stridor, and others. Liquid helium serves as a cryogenic agent for magnets in MRI scanners. This trend is expected to generate heavy demand for noble gases in the near future.
Industry participants are focusing on innovation and technological advancements in order to develop economic noble gas extraction techniques. Moreover, the market players are practicing several strategic initiatives such as joint ventures, partnerships, mergers and acquisitions, and global expansion. The players are also focused on establishing production facilities across potential economies of the world in order to enhance their foothold in the market for noble gases.
Grand View Research has segmented the global noble gas market on the basis of product, end-user, and region:
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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