Canada Noble Gas Market Size & Outlook, 2023-2030
Canada noble gas market, 2018-2030 (US$M)
Related Markets
Canada noble gas market highlights
- The Canada noble gas market generated a revenue of USD 110.2 million in 2023 and is expected to reach USD 182.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, helium was the largest revenue generating product in 2023.
- Krypton is the most lucrative product segment registering the fastest growth during the forecast period.
Noble gas market data book summary
| Market revenue in 2023 | USD 110.2 million |
| Market revenue in 2030 | USD 182.0 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Helium |
| Fastest growing segment | Krypton |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Helium, Neon, Argon, Krypton, Xenon, Other Products |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Basf SE, Linde PLC, Nippon Sanso Holdings Corp, Northrop Grumman Corp, Iwatani Corp, Resonac Holdings Corp |
Other key industry trends
- In terms of revenue, Canada accounted for 4.0% of the global noble gas market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. noble gas market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 182.0 million by 2030.
Helium was the largest segment with a revenue share of 44.56% in 2023. Horizon Databook has segmented the Canada 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 government of Canada spent USD 331 billion on healthcare in 2022, which accounted for a share of 12.2% of its GDP in the same year. Noble gases are used in healthcare applications in their purest form. They are also used with other gases for stimulating breathing, inducing anesthesia in patients, and sterilizing medical equipment.
The healthcare sector in Canada is anticipated to flourish significantly over the forecast period owing to an increase in government expenditure on healthcare facilities and services. Moreover, numerous end-use companies operating in the country's manufacturing, electronics, and automotive industries are anticipated to fuel the demand for noble gas in Canada. This is expected to fuel the growth of the noble gas market in the country over the forecast period.
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Noble Gas Market Scope
Noble Gas Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada noble gas market size, by product, 2018-2030 (US$M)
Canada Noble Gas Market Outlook Share, 2023 & 2030 (US$M)
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