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.
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Gases Market Report at : https://www.millioninsights.com/industry-reports/rare-gases-market
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.
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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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