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The global rare gas market

The global rare gas market has reached USD 355.1 Million and estimated to reach USD 594.68 Million by 2026 at a CAGR of 7.80% during the forecast period from 2020-2026.

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The global rare gas market

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  1. Global Rare Gas Market

  2. According to Blueweave consulting, the global rare gas market has reached USD 355.1 Million is estimated to reach USD 594.68 Million by 2026 at a CAGR of 7.80% during the forecast period from 2020-2026. The growing demand for laser and lighting applications and the increasing healthcare and automotive industries are key factors driving the growth of the rare gas market around the globe. Rare gasses are not reactive except when they arrive in extreme conditions. The inertia of noble gasses makes them ideal for many applications. In the global market for rare gases, both in growth in domestic and export-oriented revenues are observed for significant players. Besides, issues such as rising buyer bargaining power, focus on high-quality, low-cost commodities are forcing changes in the supply chain for rare gas. Acquisitions and mergers are one of the foremost tactics adopted by the companies producing rare gas. Companies are actively investing in research and development to develop new ways of increasing the rare gas market to meet the rising technical requirements in different applications. Moreover, the noble gas is essential in the production of helium-neon lasers, which is utilized in the barcode scanners. These characteristics and benefits of noble gas have been helping in propelling its demand across the nations.

  3. The energy-efficient segment in the global rare gas market estimated to have the fastest growth during the forecast horizon Energy efficiency is dominating the end-user segment in the rare gas market during the forecast period. Rare gases are used in the lighting as they emit light upon applying an electric field. Rare gas also has a volatile nature, allowing changes as per the application, which helps in a competitive edge over the other regular gases. Demand for noble gas has been growing particularly in energy-efficient lighting systems and in window-insulation. Rapid up-gradation in technology for semiconductors has led to the evolution of light-emitting diode (LED) lights, which emit light using the semiconductor diodes without using any glasses. North America is estimated to dominate the rare gas market due to growing noble gas consumption in aerospace and lasers applications during the forecast period. Read more:https://www.blueweaveconsulting.com/rare-gas-market-bwc19423

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