Rare Gas Industry Size, Share, Demand & Growth by 2034
In the medical sector, helium gas is used in some of the most vital processes owing to its
unique physical and chemical properties. Helium gas and oxygen are used to treat various
diseases, including emphysema, asthma, and other respiratory diseases. It also finds
applications in MRI scanners for generating images. This is anticipated to fuel sales of rare
gases in the healthcare sector.
According to Future Market Insights (FMI), the global rare gas industry is expected to grow
at a 5.1% CAGR, reaching US$ 6.5 Billion by 2034.
Similarly, argon is utilized as a surgical instrument in the healthcare sector. Coagulation of
argon plasma is a non-contact technique that uses high-frequency stimulation of argon plasma
to prevent bleeding through coagulation in surgical places.
Moreover, growing applications in the aerospace and aircraft industries are anticipated to
create opportunities for rare gas market players. Xenon is used as a propellant for ion
thrusters. As the number of space missions is increasing all around the world, the need for
xenon gas is expected to increase.
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Further, krypton is extensively used in the construction industry because of its effective
insulation and energy efficiency in high-end triple and double-glass windows.
“Rare gas ionization provides a strong white light which is used in flashbulbs, fluorescent
lamps, airport runway lights, and lasers. For brighter light, rare gas is effective for indoor
light application. Growing demand for brighter light for various applications will fuel growth
in the market over the forecast period,” says an FMI analyst.
Key Takeaways:

By supply mode, the cylinders segment will dominate the market and will account for
a share of 67.3% in 2024.

In terms of applications, demand in the lighting segment will surge at a 4.8% CAGR
over the forecast period.

The USA rare gas market will expand at a CAGR of 2.9% through 2034.

China will account for a dominant share in the East Asia rare gas market, with
demand growing at a 5.7% CAGR through 2034.
Competitive Landscape

Air Gas,

Air Liquide,

Matheson Tri-Gas, Inc.,

Messer Group GmbH,

American Gas Products,

The Linde Group,

Air Products & Chemicals, Inc., and

Air Water Inc.
are some of the leading players operating in the global rare gas market.
More Insights into the Rare Gas Market Report
In its latest report, FMI offers an unbiased analysis of the global Rare Gas Market, providing
historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To
understand the global market potential, its growth, and scope, the market is segmented based
on gas type, application, supply mode, and region.
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