Neon Gas Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2467 | Last Updated On: Sep 02 2022 | Available Formats

> Global Neon Gas Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Neon Gas Market is Segmented By Type (Low Purity, High Purity, Ultra-High Purity), By Application (Cryogenics, Industrial Applications, Electronics and Semiconductors, Imaging and Lighting, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029


Market Overview

[150 Pages Report] The Global Neon Gas Market is expected to grow at a CAGR during the forecasting period (2022-2029).

Neon Gas Market - Strategic Insights



Market CAGR


Segments Covered

By Type, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Neon is a chemical element which is found on the rightmost group on the periodic table, which means that it is an unreactive element. It is usually found in gaseous state. There are five other inert elements found in nature which exhibits properties similar to it- Helium, Argon, Krypton, Xenon and Radon.  The global neon gas market is expected to grow at a steady pace during the forecast period, largely due to the rapid expansion of end-use industries including cryogenics, imaging, and electronic chip manufacturing.

Market Dynamics

One of the major drivers of the global neon gas market is its increasing usage for cryogenic applications.

Increasing usage of Cryogenic Applications

 Neon is widely used for cryogenic applications in high energy particle colliders, rocket propulsion systems, and wave meter tubes. For cryogenic applications, neon and other nobles are preferred because of their low boiling point. Thus, they are in gaseous state even at low temperatures. High energy particle colliders are used for the study of particles in nuclear physics. Large Hadron Collider, the largest high energy collider in the world, helped in the study of Higgs Boson particles.

Neon is often preferred over helium as a cryogenic coolant in most cutting-edge energy and scientific research that does not require extreme cooling. The increase in the usage of high temperature superconductors has also intensified interest in using neon as a cryogenic refrigerant. The reason why it is becoming popular is because of the increase in its production for its various other uses, which cause decrease in the cost of production. Liquid gas is also used for cooling high-temperature superconducting motors, voltage regulators, and current limiters. In addition, neon is used in high-energy cathode ray tubes and wave meter tubes. Increasing research efforts on this front are expanding the horizon of applications and are contributing to the demand for liquid neon. Neon isotopes are increasingly being evaluated for use in energy research as a fuel.

Additionally, growing consumer demand and industrialization are driving the requirement for barcode scanners and laser-operated sensors, which in turn is contributing to the demand for neon gas.

Noble gases are predominantly used in imaging, laser, and display technologies for fluorescent and incandescent lighting. However, the use of phosphors and noble gases in lighting and laser applications is being challenged by LED technologies, which are both cost-effective and energy-efficient.

Covid -19 Impact Analysis

The global crisis affected almost every industry’s production, demand and supply chain. The neon gas market was not immune to it. The secmiconductor industry which requires neon for its processing has also taken a hit due to the pandemic. The work from home is expected to promote smart home products and thus in this field, the demand is going to surge. According to a report by Accenture, there will be decrease in production by Auto OEMs (Original Equipment Manufacturer) resulting in drop in demand.  There is expected to be drop in demand for mobile phones and consumer electronics, due to loss of income and stay-at-home orders. Thus, the production of these products and hence the consumption of neon for processing will be significantly affected.


Segment Analysis

The Global Neon Gas market is segmented into Cryogenics, Imaging and Lighting, Industrial Applications, Electronics and Semiconductors, and Others , by Application.

In 2019, the imaging and lighting segment dominated the market due to its extensive use in major applications such as holography, spectroscopy, and barcode scanning. The segment accounted for an XX% share of the market. However, the market share of the imaging and lighting segment is likely to decline by 2019 due to the growing prominence of semiconductor lighting. The market share of the cryogenics segment will likely increase in light of growing research efforts in the energy and healthcare sectors, as well as the rising need for energy-efficient industrial coolant solutions.

The global neon gas market for cryogenic applications was valued at USD XX million in 2019 and is expected to reach USD XX million in 2026, growing at a CAGR of XX%. Neon is used for industrial processes like welding, laser equipment, and lighting; however, in its liquid form, it is often used as a cryogenic refrigerant for commercial purposes. The gas is considered to be a perfect medium to cool specific processes in cryo vacuum technology, which also includes applications like fault current limiters and cooling of high-temperature superconductor (HTS) motor rotors.

Geographical Analysis

The global Neon Gas market is divided in terms of region into North America, Asia-Pacific, Europe, South America, and the Middle East and Africa.

APAC dominates the market geographically, having a share of XX%, followed by North America and Europe. It is due to neon's extensive use in manufacturing industries associated with electronics, automobiles, construction, mining, and transportation. APAC is home to some of the fastest-growing economies in the world, such as India, China, and Indonesia. The region is also a semiconductor powerhouse, with South Korea, Taiwan, Japan, and China being the key global suppliers of electronics and semiconductors. Japan has the third largest electronics industry in the world and thus has a huge demand of semiconductors. Countries in the APAC region are continuously making investments for growth in the electronics sector. For instance, in May 2021, South Korea announced 451-billion-dollar investment for domestic semiconductor production, which will drive the demand for neon gas for the processing of semiconductors.

  However, the region lags behind others in terms of the demand-supply balance of noble gases. APAC is a net importer of noble gases, wherein the market is dominated by the industrial gas manufacturers from Europe and the US operating through their local companies. Although, China is the largest consumer of semiconductors in the world , majority of the revenue by purchasing the chips goes to foreign firms. For instance, according to a report by technode in 2020 China consumed 143.1 billion dollars’ worth of Wafers(semiconductor used for fabrication of integrated circuits) , however the majority of the consumption was imported from firms in North America and Europe. To change this scenario, China is investing heavily for domestic semiconductor production.

Competitive Analysis

The market was oligopolistic in nature until the last decade, with the presence of only a few large firms from Europe and the US. However, the market structure shifted with the entry of small and medium-scale companies that produce various industrial gas formulations and sell them at competitive prices. The major players which consolidate the global neon gas market are Air Liquid SA, Linde PLC, The Messer Group, Air Products and Chemical and Air Water INC.  Technology launches, mergers and acquisitions and high investment in R&D activities are some of the strategies used by the key players to make the market highly competitive for new entrants. Most manufacturing players distinguish their product offerings based on availability, price, and distribution service.

For instance, in March 2019, The Messer Group acquired the majority of Linde AG’s gases business in North America and certain Linde and Praxair business activities in South America. According to its press release, the joint venture is called Messer Industries GmbH – with CVC Capital Partners Fund VII (“CVC”). Messer Industries is investing a total of around 3.6 billion US dollars.

Why Purchase the Report?

  • Visualize the composition of the Global Neon Gas Market across each indication, in terms of Type and End User options, highlighting the key commercial assets and players.
  • Identify commercial opportunities in Global Neon Gas Market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the Global Neon Gas Market - level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Type mapping in excel for the key Services of all major market players

Target Audience:

  • Equipment Suppliers/ Buyers
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  • Industry Investors/Investment Bankers
  • Education and Research Industries
  • Research Professionals
  • Emerging Companies
  • Manufacturers

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