Market revenue in 2023 | USD 240.0 million |
Market revenue in 2030 | USD 318.2 million |
Growth rate | 4.1% (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 |
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 46% in 2023. Horizon Databook has segmented the Middle East & Africa 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 Middle East & Africa (MEA) noble gas market is growing at a moderate rate owing to steady capacity expansions by surgical instruments, defense equipment, leather products, and cotton, and an increasing number of new applications of noble gases is expected to drive market growth.
The service and manufacturing industries are primarily responsible for the demand generation of specialty gases owing to increasing applications such as welding, cutting, and metal fabrication in the automotive industry.
Development in infrastructure coupled with an increasing economy and rising population is anticipated to drive market growth in this region. Government initiatives in firming end-user industries such as manufacturing, service, oil & gas, healthcare, food & beverage, etc., are projected to positively influence market growth over the forecast period.
Key Regions: UAE , U.S. , Japan , Brazil , South Africa
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