Russia Noble Gas Market Size & Outlook, 2023-2030
Russia noble gas market, 2018-2030 (US$M)
Related Markets
Russia noble gas market highlights
- The Russia noble gas market generated a revenue of USD 149.4 million in 2023 and is expected to reach USD 273.0 million by 2030.
- The Russia market is expected to grow at a CAGR of 9% 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 149.4 million |
| Market revenue in 2030 | USD 273.0 million |
| Growth rate | 9% (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, Russia accounted for 5.4% 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 Europe, Russia noble gas market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 197.5 million by 2030.
Helium was the largest segment with a revenue share of 52.48% in 2023. Horizon Databook has segmented the Russia noble gas market based on helium, neon, argon, krypton, xenon, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Russia is one of the key markets for noble gas in Europe owing to its flourishing primary industries, namely, manufacturing, engineering, aerospace, automotive, and pharmaceuticals. Increasing consumption of noble gas in various applications in the manufacturing industry drives the demand for noble gas in Russia.
In 2022, Russia contributed a share of 5.6% of its GDP to healthcare expenditure. Increased demand for high-purity noble gas for use in various applications such as metal fabrication, chemical production, and welding and cutting in the manufacturing industry is anticipated to fuel the growth of the noble gas market in Russia 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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Russia noble gas market size, by product, 2018-2030 (US$M)
Russia Noble Gas Market Outlook Share, 2023 & 2030 (US$M)
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