Noble gas: Key market research findings
- Increased usage of Helium noble gas
- Innovations in cylinder packaging and pressure valves
Technavio has added a new market research report on the global noble gas market, to its industrial gases portfolio. The noble gas market is expected to grow at a CAGR of around 5% between 2015 and 2019, thanks to growing demand from the chemical, engineering, consumer goods, aerospace, and electronics sectors. APAC dominates the market due to the presence of manufacturing industries associated with automobiles, construction, mining, and transportation. Moreover, the region is the semiconductor powerhouse where countries like South Korea, Taiwan, Japan and China are the principal suppliers of electronics and semiconductors across the world.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Helium is the most produced and merchandized noble gas owing to its diverse applications and mammoth consumption. The wide applications of helium include LHC, air-to-air missile guidance systems, surveillance aircraft, and rocket propulsion systems. Besides industrial applications, the scientists are enhancing the usage scope of liquid helium in quantum mechanics. Also, Helium-3 is being proposed to be used in energy researches as a cleaner fuel in fusion reactors,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
Vendors are constantly exploring new cylinder packaging solutions and pressure valves for the distribution of noble gases. They are replacing metal packaging of cylinder by composite materials made up of plastic or aluminium. Such composite cylinders are light-weight and safer to use. Companies such as Luxfer Group and Time Technoplast have adopted these cylinders in their distribution channel.
The top vendors in the global noble gas market are Airgas, Air Liquide, Linde, Messer, and Praxair. This market is dominated by chemical companies from Europe and the US, who have an integrated distribution network and rely on their proprietary manufacturing technologies. The availability of cheap natural gas resources is encouraging major vendors to install manufacturing and distribution facilities in the Middle East and emerging markets in Asia.
A more detailed analysis is available in the Technavio report, Global Noble Gas Market 2015-2019.
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