The global rare gas market size accounted for USD 3,950 million in 2024 and is expected to exceed around USD 6,560 million by 2034, growing at a CAGR of 5.2% from 2024 to 2034.
The rare gas market is seeing a growing demand because of research and development activities to find applications for the rare gas across different industries. The ongoing research activities in different industries like material sciences, aerospace, nanotechnology etc., require these gases for product development and experimentation. These gases are also finding applications in rocket propulsion, life support systems and instrumentation in space exploration industry with interest from government and other agencies increasing its demand.
The need for clean energy is promoting the use of hydrogen as a sustainable alternative, rare gases help with purification of hydrogen and storage. The demand will continue rising as industries look for cleaner and eco-friendly solutions. The continuous advancements in gas purification, extraction and development of applications for rare gases will make them more accessible and affordable. Rare gases are finding new applications in the healthcare sector for diagnostic imaging, therapeutic procedures, in laser surgeries, respiratory treatments etc. Some rare gases have industrial applications in manufacturing, healthcare, space, electronic and many more. All these aspects are helping the expansion of rare gas market.
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| Stats ID: | 7171 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Price | US$ 1550 |
| Stats ID: | 7171 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Price | US$ 1550 |
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