Global Noble Gas Market Size & Outlook, 2023-2030
Global noble gas market, 2018-2030 (US$M)
Related Markets
Global noble gas market highlights
- The global noble gas market generated a revenue of USD 2,746.9 million in 2023 and is expected to reach USD 4,032.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.6% by 2030.
- In terms of segment, helium accounted for a revenue of USD 1,292.8 million in 2023.
- Argon is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,746.9 million |
| Market revenue in 2030 | USD 4,032.3 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Helium |
| Fastest growing segment | Argon |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Helium, Neon, Argon, Krypton, Xenon, Other Products |
Other key industry trends
- In terms of revenue, the North America accounted for 20.9% of the global noble gas market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, South Africa is the fastest growing regional market and is projected to reach USD 27.5 million by 2030.
Helium was the largest segment with a revenue share of 47.06% in 2023. Horizon Databook has segmented the Global noble gas market based on helium, neon, argon, krypton, xenon, other products covering the revenue growth of each sub-segment from 2018 to 2030.
The utilization of improved medical technologies and increasing government expenditure on the healthcare industry is accelerating the applicability rate of noble gases in various medical devices such as magnetic resonance imaging (MRI), nuclear magnetic resource imaging (NMRI), and ophthalmology.
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Noble Gas Market Scope
Noble Gas Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global noble gas market size, by region, 2018-2030 (US$M)
Top 10 countries: Noble gas market size, 2023 (US$M)
Global noble gas market share, by product, 2023 & 2030 (%, US$M)
Noble gas market: Opportunity assessment by country
Global noble gas market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 486.6 | 503.4 | 521.4 | 529.6 | 551.3 | 574.1 | 598.0 | 623.1 | 649.2 | 676.6 | 705.2 | 735.1 | 766.5 | 4.2% |
| Europe | 568.8 | 608.0 | 650.7 | 682.5 | 733.6 | 788.6 | 847.9 | 911.6 | 980.2 | 1,053.7 | 1,133.0 | 1,218.3 | 1,310.1 | 7.5% |
| Asia Pacific | 729.5 | 761.0 | 795.0 | 814.4 | 855.2 | 898.5 | 944.4 | 993.0 | 1,044.4 | 1,098.8 | 1,156.4 | 1,217.5 | 1,282.3 | 5.2% |
| Latin America | 197.7 | 206.5 | 216.2 | 221.8 | 233.4 | 245.6 | 258.7 | 272.5 | 287.1 | 302.6 | 319.1 | 336.6 | 355.2 | 5.4% |
| MEA | 204.3 | 211.2 | 218.6 | 221.8 | 230.7 | 240.0 | 249.8 | 260.0 | 270.7 | 281.8 | 293.4 | 305.5 | 318.2 | 4.1% |
| Overall | 2,186.8 | 2,290.1 | 2,401.8 | 2,470.3 | 2,604.1 | 2,746.9 | 2,898.7 | 3,060.2 | 3,231.6 | 3,413.5 | 3,607.1 | 3,813.0 | 4,032.3 | 5.6% |
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