[220 Pages] The global neon gas market is anticipated to be worth US$ 222.9 Million in 2022. With sales growing at a healthy 7% CAGR, the market valuation will reach US$ 439.1 Million by 2032.
| Attribute | Details |
|---|---|
| Neon Gas Market Base Year Value (2021A) | US$ 236.2 Million |
| Neon Gas Market Estimated Year Value (2022E) | US$ 222.9 Million |
| Neon Gas Market Projected Year Value (2032F) | US$ 439.1 Million |
| Neon Gas Market Value-based CAGR (2022 to 2032) | 7% |
| Neon Gas Market Collective Value Share: Top 3 Countries (2022E) | 50.1% |
As per FMI, the total demand for neon gas is projected to represent around 6-9% of the global rare gas market.
The growing adoption of lasers in various end-use industries including electronics, military and defense, sensors, and aviation is expected to augment the growth in the market over the forecast period.
Lasers are one of the prominent applications of neon gas. Consistent technological advancement and exploration of new application areas are expected to provide momentum to sales in the lasers segment in the forthcoming years.
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Demand for neon gas increased at a 3.7% CAGR between 2017 to 2021. Over the forecast period, sales are slated to surge at a 7% CAGR.
After the global financial crisis in 2009, demand for neon gas decreased dramatically. Although the supply of gas has rebounded at a quick pace since 2011, rising gas costs remain a major concern.
However, high demand for neon gas was observed after 2017. To cater to the growing demand, manufacturers are expanding their production capacities by setting up new air separation units in Russia and China to compete with Ukraine's neon gas supply.
Expansion of end-use industries such as semiconductors and lasers is expected to boost sales over the assessment period.
Neon gas manufacturing companies are focusing on technological advancements and production facility expansions to capitalize on the growing demand from the semiconductors and laser industries.
Since 2017, Neon gas has been in high demand due to growth in the semiconductor industry. In this sector, pure neon or neon gas mixtures are used for laser, which is further used in making chips.
Currently, due to the Russia-Ukraine war, the supply chain of neon gas is disrupted. Around 45% to 55% of the world's semiconductor-grade neon gas is supplied to these two countries in the world. Disruptions created due to the Russian invasion are expected to create opportunities for manufacturers based in other countries to increase the production of neon gas.
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Neon lights were invented long back in the twentieth century and have been used for advertising and illuminating buildings. Neon tubes that are filled with neon gas emit red light according to their emission spectrum. These tubes have an uncoated, clear, or red-tinted glass tube in them.
Further, neon also emits reddish-orange, or green if mercury is used in a yellow-green tube. There are also lines in orange and yellow in the neon emission spectrum, in addition to the powerful red lines, while the green lines are also emitted. The glass tubes are colored red to absorb the yellow and green wavelengths, resulting in dark red light.
Neon is emerging as a preferred choice for lighting among consumers due to its appealing colors and artistic effects. This is also propelling its applications in signage for advertising and promotional purposes, which is expected to push sales in the market in the forthcoming years.
The rising usage of neon gas for cryogenic applications is expected to boost the market over the forecast period. Rocket propulsion systems, particle colliders, and wave meter tubes use neon gas for cryogenic purposes.
Due to its low boiling point, neon and other noble gases are preferred for cryogenic applications. As a result, even at low temperatures, they are in a gaseous condition. Also, high-energy particle colliders are used to examine particles in nuclear physics.
Helium-neon lasers use a high-pressure helium-neon gas combination (He: Ne ratio 5:1- 20:1) to operate. The light beam emitted is red. He-Ne lasers are commonly utilized in laboratory demonstrations of optics and are widely used in commercial and industrial applications.
In holography, it is the most commonly utilized laser. Other important He-Ne laser applications include scanners for barcodes, alignment of tools, no-contact monitoring and measurement, analysis of blood, counting particles and categorizing food, and alignment of aiming beams with high-power CO2 and YAG therapy lasers.
Driven by these applications, sales of neon gas will gain momentum over the assessment period.
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Neon is a rare gas that is present in a low quantity as compared to other industrial gases. Also, the demand and supply side of neon gas across the globe is quite bound. Thus it leads to a rise in the price of gas globally.
Above 70% of the global demand for neon, gas is catered by Ukraine. The ongoing Russian invasion of Ukraine has disrupted the production and supply chain of noble gases. This is raising concerns about the structure and robustness of the global supply network for various rare gasses including neon, krypton, and others.
Also, the price of neon gas is usually high compared to other gas like argon. Consumers are preferring other conventional gas due to high prices, which might hamper the growth in the market.
Increasing Using in Billboards and Signages in China will Fuel Sales of Neon Gas
As per FMI, sales of neon gas in China are projected to increase at a 7.7% CAGR over the forecast period, accounting for 83.1% of the East Asia neon gas market share by 2032. Rising government-backed investments in the expansion of the industrial sector in China are expected to bode well for the market.
The presence of major end-use industries such as semiconductors, automotive, oil & gas, and mining will continue driving demand for neon gas over the forecast period.
Surging Demand for Neon Gas from the Electronics Sector will Augment Growth
Germany is one of the leading consumers of neon gas owing to its high applications in the country’s electronic sector. The rising usage of neon gas in the production of lasers and semiconductor chips will continue driving the market over the assessment period. As per the report, Germany is forecast to account for 31.1% of the Europe neon gas market share through 2032.
Neon Gas Cylinders to Remain Highly Sought-After
In terms of supply mode, demand in the cylinders segment is projected to grow at a 7% CAGR over the forecast period. Cylinders are the most popular neon gas delivery method. Manufacturers are packaging neon gas in cylinders for a wide range of uses, including lasers and electronics due to their high agility.
Tanks are also frequently used to transport large quantities of neon gas over long distances. To ensure proper supply, tanks are filled with compressed or liquefied gas. For industrial uses, however, on-site delivery via pipelines is used to ensure a continuous supply.
Surging Applications of Neon Gas in Advertising Signage Will Boost Sales
Based on applications, sales of neon gas for lighting will increase at a 6.1% CAGR over the forecast period. Growing usage of lasers in the production of various devices that includes sensors, lighting technologies, and defense equipment is expected to spur demand in the market.
Lamps, advertising signs, bulbs, and lighting products use neon gas. Its usage in fluorescent lights results in a significant reduction in power consumption. Owing to these factors, demand in this segment will gain momentum.
Key players operating in the global neon gas market are aiming to expand their production capacities to cater to the growing demand for neon gas. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | US$ Million for Value and Kilograms for volume |
| Key Regions Covered | Latin America, North America, Europe, East Asia, South Asia Pacific, and MEA |
| Key Countries Covered | The USA, Canada, Germany, Italy, Brazil, Mexico, France, the UK, Spain, Russia, Poland, China, Japan, South Korea, GCC Countries, Turkey, and South Africa. |
| Key Market Segments Covered | Supply Mode, Application, and Region |
| Key Companies Profiled |
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| Pricing | Available upon Request |
The global neon gas market is expected to be worth about US$ 222.9 Million in 2022.
The demand for neon gas is predicted to rise due to the increasing incorporation in lasers for various uses, as well as growth in the lighting industries.
Neon gas consumption is estimated to grow at a 7% CAGR, US$ 439.1 Million in 2032.
During the forecast period, sales in the North America market will grow at a 6.8% CAGR.
Air Products & Chemicals Inc., Air Liquide, The Linde Group, Axcel Gases, Mil-Spec Industries, Electronic Flurocarbons, LLC, Specialty Chemical Products Inc., Dakota Gasification Co., and Boc Gases Ireland Inc. are some of the key manufacturers of neon gas.
1. Executive Summary | Neon Gas Market 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 5.1. Historical Market Volume (Kilograms) Analysis, 2017 to 2021 5.2. Current and Future Market Volume (Kilograms) Projections, 2022 to 2032 5.3. Y-o-Y Growth Trend Analysis 6. Global Market - Pricing Analysis 6.1. Regional Pricing Analysis 6.2. Pricing Break-up 6.2.1. Manufacturer-Level Pricing 6.2.2. Distributor Level Pricing 6.3. Global Average Pricing Analysis Benchmark 7. Global Market Demand (in Value or Size in US$ Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 7.1. Historical Market Value (US$ Million) Analysis, 2017 to 2021 7.2. Current and Future Market Value (US$ Million) Projections, 2022 to 2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.2. Forecast Factors - Relevance & Impact 8.3. Value Chain 8.3.1. List of Manufacturers 8.3.2. List of Probable End Users 8.3.3. Average Margins 8.4. COVID-19 Crisis - Impact Assessment 8.4.1. Current Statistics 8.4.2. Short-Mid-Long Term Outlook 8.4.3. Likely Rebound 8.5. Market Dynamics 8.5.1. Drivers 8.5.2. Restraints 8.5.3. Opportunity Analysis 8.6. Global Supply Demand Analysis 8.7. Buyers Decision Analysis 8.8. Trade Statistics 8.9. Porters Five Forces Analysis 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Supply Mode 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Million) and Volume Analysis By Supply Mode, 2017 to 2021 9.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Supply Mode, 2022 to 2032 9.3.1. Cylinders 9.3.2. Bulk & Micro Bulk 9.3.3. Drum Tanks 9.3.4. On-Site 9.4. Market Attractiveness Analysis By Supply Mode 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Million) and Volume Analysis By Application, 2017 to 2021 10.3. Current and Future Market Size (US$ Million) and Volume Analysis and Forecast By Application, 2022 to 2032 10.3.1. Lasers 10.3.2. Electronics 10.3.3. Lighting 10.3.4. Others 10.4. Market Attractiveness Analysis By Application 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 11.1. Introduction 11.2. Historical Market Size (US$ Million) and Volume Analysis By Region, 2017 to 2021 11.3. Current Market Size (US$ Million) and Volume Analysis and Forecast By Region, 2022 to 2032 11.3.1. North America 11.3.2. Latin America 11.3.3. Europe 11.3.4. South Asia and Pacific 11.3.5. East Asia 11.3.6. Middle East & Africa 11.4. Market Attractiveness Analysis By Region 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 12.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 12.4.1. By Country 12.4.1.1. United States of America 12.4.1.2. Canada 12.4.2. By Supply Mode 12.4.3. By Application 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Supply Mode 12.5.3. By Application 12.6. Market Trends 12.7. Key Market Participants - Intensity Mapping 12.8. Drivers and Restraints - Impact Analysis 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 13.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 13.4.1. By Country 13.4.1.1. Brazil 13.4.1.2. Mexico 13.4.1.3. Rest of Latin America 13.4.2. By Supply Mode 13.4.3. By Application 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Supply Mode 13.5.3. By Application 13.6. Market Trends 13.7. Key Market Participants - Intensity Mapping 13.8. Drivers and Restraints - Impact Analysis 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 14.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 14.4.1. By Country 14.4.1.1. Germany 14.4.1.2. Italy 14.4.1.3. France 14.4.1.4. United Kingdom 14.4.1.5. Spain 14.4.1.6. BENELUX 14.4.1.7. Russia 14.4.1.8. Rest of Europe 14.4.2. By Supply Mode 14.4.3. By Application 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Supply Mode 14.5.3. By Application 14.6. Market Trends 14.7. Key Market Participants - Intensity Mapping 14.8. Drivers and Restraints - Impact Analysis 15. South Asia and Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 15.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 15.4.1. By Country 15.4.1.1. India 15.4.1.2. ASEAN 15.4.1.3. Australia and New Zealand 15.4.1.4. Rest of South Asia & Pacific 15.4.2. By Supply Mode 15.4.3. By Application 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Supply Mode 15.5.3. By Application 15.6. Market Trends 15.7. Key Market Participants - Intensity Mapping 15.8. Drivers and Restraints - Impact Analysis 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 16.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 16.4.1. By Country 16.4.1.1. China 16.4.1.2. Japan 16.4.1.3. South Korea 16.4.2. By Supply Mode 16.4.3. By Application 16.5. Market Attractiveness Analysis 16.5.1. By Country 16.5.2. By Supply Mode 16.5.3. By Application 16.6. Market Trends 16.7. Key Market Participants - Intensity Mapping 16.8. Drivers and Restraints - Impact Analysis 17. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Size (US$ Million) and Volume Trend Analysis By Market Taxonomy, 2017 to 2021 17.4. Market Size (US$ Million) and Volume Forecast By Market Taxonomy, 2022 to 2032 17.4.1. By Country 17.4.1.1. GCC Countries 17.4.1.2. Turkey 17.4.1.3. South Africa 17.4.1.4. Rest of Middle East and Africa 17.4.2. By Supply Mode 17.4.3. By Application 17.5. Market Attractiveness Analysis 17.5.1. By Country 17.5.2. By Supply Mode 17.5.3. By Application 17.6. Market Trends 17.7. Key Market Participants - Intensity Mapping 17.8. Drivers and Restraints - Impact Analysis 18. Country-Wise Market Analysis 2022 to 2032 18.1. Introduction 18.1.1. Market Value Proportion Analysis, By Key Countries 18.1.2. Global Vs. Country Growth Comparison 18.2. USA Market Analysis 18.2.1. By Supply Mode 18.2.2. By Application 18.3. Canada Market Analysis 18.3.1. By Supply Mode 18.3.2. By Application 18.4. Mexico Market Analysis 18.4.1. By Supply Mode 18.4.2. By Application 18.5. Brazil Market Analysis 18.5.1. By Supply Mode 18.5.2. By Application 18.6. Germany Market Analysis 18.6.1. By Supply Mode 18.6.2. By Application 18.7. Italy Market Analysis 18.7.1. By Supply Mode 18.7.2. By Application 18.8. France Market Analysis 18.8.1. By Supply Mode 18.8.2. By Application 18.9. UK Market Analysis 18.9.1. By Supply Mode 18.9.2. By Application 18.10. Spain Market Analysis 18.10.1. By Supply Mode 18.10.2. By Application 18.11. Russia Market Analysis 18.11.1. By Supply Mode 18.11.2. By Application 18.12. BENELUX Market Analysis 18.12.1. By Supply Mode 18.12.2. By Application 18.13. China Market Analysis 18.13.1. By Supply Mode 18.13.2. By Application 18.14. Japan Market Analysis 18.14.1. By Supply Mode 18.14.2. By Application 18.15. S. Korea Market Analysis 18.15.1. By Supply Mode 18.15.2. By Application 18.16. India Market Analysis 18.16.1. By Supply Mode 18.16.2. By Application 18.17. ASEAN Market Analysis 18.17.1. By Supply Mode 18.17.2. By Application 18.18. Australia and New Zealand Market Analysis 18.18.1. By Supply Mode 18.18.2. By Application 18.19. GCC Countries Market Analysis 18.19.1. By Supply Mode 18.19.2. By Application 18.20. Turkey Market Analysis 18.20.1. By Supply Mode 18.20.2. By Application 18.21. South Africa Market Analysis 18.21.1. By Supply Mode 18.21.2. By Application 19. Market Structure Analysis 19.1. Market Analysis by Tier of Companies (Neon Gas) 19.2. Market Concentration 19.3. Market Share Analysis of Top Players 19.4. Apparent Production Capacity 19.5. Market Presence Analysis 19.5.1. By Product Footprint of Players 19.5.2. By Region Footprint of Players 19.5.3. By Channel Footprint of Players 20. Competition Analysis 20.1. Competition Dashboard 20.2. Competition Benchmarking 20.3. Primary Survey Analysis 20.4. Competition Deep Dive 20.4.1. Air Liquide 20.4.1.1. Overview 20.4.1.2. Product Portfolio 20.4.1.3. Profitability by Market Segments (Product/Channel/Region) 20.4.1.4. Sales Footprint 20.4.1.5. Strategy Overview 20.4.2. The Linde Group 20.4.3. Matheson Tri-Gas, Inc. 20.4.4. American Gas Products 20.4.5. Air Products & Chemicals, Inc. 20.4.6. Air Water Inc. 20.4.7. Proton Gases (India) Pvt. Ltd. 20.4.8. Axcel Gases 20.4.9. Messer Group GmbH 20.4.10. BASF SE 20.4.11. Taiyo Nippon Sanso Corp. 21. Assumptions and Acronyms Used 22. Research Methodology
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Neon Gas Market
