Market revenue in 2023 | USD 88.3 million |
Market revenue in 2030 | USD 197.5 million |
Growth rate | 12.2% (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 |
Helium was the largest segment with a revenue share of 44.96% in 2023. Horizon Databook has segmented the Italy noble gas market based on helium, neon, argon, krypton, xenon, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Italy is a relatively small market for noble gas in Europe. However, the demand for noble gas in the country is expected to increase owing to a surge in healthcare spending in Italy. The demand for helium gas is the most dominant in the country owing to its vast usage in healthcare and energy & power applications.
Initiatives undertaken by the Government of Italy to promote the growth of its domestic manufacturing industry are expected to increase the consumption of noble gas in the country. The government of Italy is planning to double its natural gas production to 6 billion cubic meters (bcm) per year from the current 3 bcm and reduce its dependence on Russian suppliers in the next few years.
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