A rare gas is a term coined within inert or noble gases and
are remarkable group of elements. Chemical bonds between other gases and noble
gases are normally quite volatile owing to several redox reactions that results
into exploration of noble gas chemistry constituting a series of capabilities
offered by low temperature experimental techniques. Low temperature solid hosts
are shown to synthesize and determine the novel species. On the basis of
end-use, the global rare gases market is segmented into manufacturing
& construction, electronics, healthcare, automotive & transportation
equipment.
Applications of rare gas enjoy a broader spectrum. Rare gases
are used increasingly in numerous industries ranging from electronics and glass
fiber via lighting to automotive and aerospace. The use of rare gases is
increasingly harnessing the benefits of noble gases which are similar to oxygen
and nitrogen. Rare gases such as xenon, neon and krypton are also produced from
air via cryogenic separation and purification.
Neon is best known for luminescent properties and it plays a
vital role in ophthalmology. While operating a patient with cornea a suitable
mixture of argon, neon and fluorine is used to correct eyesight through a laser
beam. Krypton is pivot in energy-saving windows and is used as filler gas
between insulate glass panes due to its low thermal conductivity. The low
conductivity thus increases effectiveness of insulation. Xenon is an extremely
noble gas accounting only for a small fraction of air. This includes
applications such as semiconductors, plasma screens, car headlights, camera
flashes and anesthetics.
From the commercial point of view, with the growing popularity
of rare gases in various industries worldwide coupled with growth in demand
owing to their inertness makes favorable chances for development of rare gas
market. Therefore, the market dynamics coupled with market driving factors
leverages the market growth and sets a healthy CAGR for the global market
during the forecast period.
The key driving factors responsible for the growth of global
rare gases market include new energy-efficient codes, growth in oil prices,
demand for energy-efficient building structures, and growth in electronics
industry and government regulatory frameworks. On the basis of type, the global
rare gases market is segmented into neon, krypton and xenon. On the basis of
function, the global rare gases market is segmented into illumination,
insulation, scanning, anesthesia, semiconductors and satellites. On the basis
of transportation mode, the global rare gases market is segmented into
cylinders & liquid containers, tonnage distribution, bulk and micro bulk
delivery.
On the basis of geographic segmentation, the global rare
gases industry spans North America, Latin America, Europe, Middle-East,
Asia-Pacific and Africa. APAC regions are anticipated to grow at a higher CAGR
during the forecast period owing to growth in end-use industries. Europe and
North American markets are anticipated to grow at a higher CAGR owing to rise
in demand for innovative lights in shopping complex and malls.
Middle-East regions are set to witness a substantial CAGR
growth for the forecast period owing to proliferated use of luminous lights.
The key players in the global rare gases market include Praxair Inc, Airgas
Inc, The Linde Group, Air Liquide S.A., AirProducts and Chemicals Inc, Messer
Group Iwatani Corporation, and Iceblick Ltd.
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