U.S. Noble Gas Market Size & Outlook, 2023-2030
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U.S. noble gas market highlights
- The U.S. noble gas market generated a revenue of USD 422.9 million in 2023 and is expected to reach USD 528.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.2% 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 422.9 million |
| Market revenue in 2030 | USD 528.7 million |
| Growth rate | 3.2% (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 |
Other key industry trends
- In terms of revenue, U.S. accounted for 15.4% 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 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 48.83% in 2023. Horizon Databook has segmented the U.S. 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 U.S. is the most significant market for noble gases in North America owing to the bulk production of these gases in the country. The production of high-purity noble gas is carried out on a large scale in the U.S. owing to their surged consumption in healthcare applications.
Growing demand for analytical gas due to the increasing requirements of maximizing production efficiency, monitoring pollutants in the air, rendering diagnosis, evaluating product quality, etc.
Advancements in production technologies, coupled with increased investments in research activities related to applications of noble gas in the country, are expected to fuel the growth of the noble gas market in the U.S. 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 |
U.S. noble gas market size, by product, 2018-2030 (US$M)
U.S. Noble Gas Market Outlook Share, 2023 & 2030 (US$M)
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