India Noble Gas Market Size & Outlook, 2023-2030
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India noble gas market highlights
- The India noble gas market generated a revenue of USD 120.5 million in 2023 and is expected to reach USD 211.6 million by 2030.
- The India market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, helium was the largest revenue generating product in 2023.
- Argon 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 120.5 million |
| Market revenue in 2030 | USD 211.6 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Helium |
| Fastest growing segment | Argon |
| 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, India accounted for 4.4% 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 Asia Pacific, China noble gas market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 211.6 million by 2030.
Helium was the largest segment with a revenue share of 45.56% in 2023. Horizon Databook has segmented the India 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 growth of the noble gas market in India can be attributed to the rising demand for noble gases for sponge iron and steel manufacturing in India. Steady capacity expansions by refineries, as well as by chemical and automotive industries, along with emerging applications of noble gases in different industries, are expected to drive the growth of the noble gas market in India over the forecast period.
Surging usage of noble gases in metal fabrication, chemical production, welding, and cutting applications in India is anticipated to fuel the growth of the 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 |
|---|---|---|---|---|
| Nippon Sanso Holdings Corp | View profile | 22200 | Toyo Building 1-3-26, Koyama, Shinagawa-ku, Tokyo, Japan, 142-8558 | https://www.nipponsanso-hd.co.jp |
| Northrop Grumman Corp | View profile | 101000 | 2980 Fairview Park Drive, Falls Church, VA, United States, 22042 | https://www.northropgrumman.com |
| Iwatani Corp | View profile | 11351 | 6-4, Hommachi 3-chome, Chuo-ku, Osaka, Japan, 541-0053 | http://www.iwatani.co.jp |
| Air Liquide SA | View profile | 67800 | 75, Quai d'Orsay, Paris, France, 75007 | https://www.airliquide.com |
| Linde PLC | View profile | 66195 | 10 Riverview Drive, Danbury, CT, United States, 06810 | https://www.linde.com |
| Resonac Holdings Corp | View profile | 23840 | 1-9-1, Higashi-Shimbashi, Tokyo Shiodome Building, Minato-ku, Tokyo, Japan, 105-7325 | https://www.resonac.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
| Air Products & Chemicals Inc | View profile | 23000 | 1940 Air Products Boulevard, Allentown, PA, United States, 18106-5500 | https://www.airproducts.com |
India noble gas market size, by product, 2018-2030 (US$M)
India Noble Gas Market Outlook Share, 2023 & 2030 (US$M)
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