Global Rare Gases Market 2017-2021
About Rare Gases
Rare gases are also known as noble gases. They are odorless and colorless monatomic gases with low chemical reactivity. The noble gases that occur naturally are helium (He), neon (Ne), argon (Ar), krypton (Kr), xenon (Xe), and the radioactive radon (Rn). The noble gases are the members of the group 18 of the periodic table. They are typically unreactive except when under extreme conditions. The inertness of noble gases makes them suitable for several applications.
Technavio’s analysts forecast the global Rare Gases market to grow at a CAGR of 7.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global rare gases market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rare Gases Market 2017-2021
Technavio recognizes the following companies as the key players in the global rare gases market: Air Liquide, Air Products and Chemicals, Messer Group, Praxair Technology, and The Linde Group.
Other Prominent Vendors in the market are: Advanced Specialty Gases, Bhuruka Gases, Iceblick, Iwatani, Universal Industrial Gases (UIG), and Matheson Tri-Gas.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is demand from lighting application in automotive industry. Rare gases find major use in lighting applications as they emit light upon applying an electric field. These gases such as krypton, neon, and xenon are used in lighting applications such as design lights and LEDs used in vehicles. With the number of automotive vehicles increasing during the forecast period, it is expected that the application of rare gases will increase. LEDs used in automotive vehicles such as SUVs and heavy vehicles will have high demand because of low cost and the power-saving ability of these products.”
According to the report, one of the major drivers for this market is increasing demand for energy-efficient lighting and laser solutions. Rare gases are used in lighting applications as they emit light upon applying an electric field. They are used in CFLs (compact fluorescent lamps), HIDs (high-Intensity discharge lamps), and other lighting applications. Rapid advancements in technology for semiconductors have led to the emergence of LED (light emitting diode) lights, which emit light using semiconductor diodes without using any glasses.
Further, the report states that one of the major factors hindering the growth of this market is shortage of neon gas. Neon is known to emit a distinct reddish-orange glow when it is used in either high-voltage discharge tubes or low-voltage neon glow lamps or neon advertising signs. Neon is extracted by the fractional distillation of liquid air. It is generally more expensive than helium since air is its only source.
Air Liquide, Air Products and Chemicals, Messer Group, Praxair Technology, The Linde Group, Advanced Specialty Gases, Bhuruka Gases, Iceblick, Iwatani, Universal Industrial Gases (UIG), and Matheson Tri-Gas.
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