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Neon Gas Market Segmented By application such as Lighting and Imaging, Cryogenics, Television Tubes & Wave Meter Tubes, Lasers with supply mode such as Cylinders, Tonnage and Bulk Supply
Neon – a noble gas, is a rare atmospheric gas with chemical inert nature and possess no threat to the environment. This highly unreactive gas has a wide range of usage in non-reactive applications. Neon gas can be economically recovered by employing additional purification steps in large air separation units (ASUs) or ammonia production plants which utilize a large amount of air as a raw material. Neon Gas is supplied both in the form of pure gas and mixture. Neon Gas is packaged in a variety of high-pressure cylinders, including stainless steel and aluminum.
Neon gas in mixture with other gases is extensively used in imaging and lighting applications. For example helium-neon lasers, that are essential in numerous industrial applications.
Neon gas has the ability to penetrate fog in which others lights can’t be distinguished easily. Hence the demand for neon gas is growing in the extreme cold countries. This property makes it a perfect choice in aircraft beacons. Consequently, the global neon gas market is foreseen to observe significant growth rate in these applications.
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Neon gas has been used extensively in the global semiconductor since the development of DUV lithography systems. Owing to the budding demand of neon gas in excimer laser gas mixes by the semiconductor manufacturers, the market for neon gas is elevating at a significant pace. The most common application of neon gas is in the advertisement.
Neon gas generates a bright reddish orange color and when mixed with other gases produces a diverse range of colors, which can be used for landscaping and interior design. Furthermore, neon gas is used as a coolant for ultra-sensitive infrared imaging and detection equipment in aerospace & aircraft industry.
Consequently, growing demands from these industries boost the neon gas market. Additionally, in the healthcare field, neon gas is one of the components in some lung diffusion mixtures, which are used for respiratory function testing. Moreover, neon gas is also used as a cryogenic refrigerant because of enhanced refrigerating capacity than other alternatives. Aforementioned applications are expected to drive the global neon gas market.
Neon gas is produced in larger ASUs such as, in steel mills and oxygen producing plants. Owing to the limited production of neon gas, the global proportion of demand and supply is highly varied and unbalanced. Over consumption and limited production of neon gas makes it highly expensive, thus hampers the global neon gas market.
Neon gas is employed in NASA’s new plasma rocket, the Variable Specific Impulse Magnetoplasma Rocket works by heating neon gas to extremely high temperatures. In upcoming years more chemical rockets are expected to witness the utilization of neon gas and consequently, fuels the neon gas market. Important developments in neon gas conservation includes excimer laser gas usage optimization efforts to help end customers to reduce consumption.
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Neon Gas is experiencing a sharp rise in demand in the Japanese market to manufacture semiconductors. A number of large oxygen production projects are now in operation in Asia-Pacific region and thus, expected to observe incessant growth, especially in China. The neon gas market is expected to witness decline in production of neon gas in the United States and Eastern Europe, the reason being aging ASUs in this region.
However, with the development of the exploration activities by the space agencies in this region neon gas is expected to witness demand growth. Moreover, more than a half of the global neon crude production is concentrated in Russia and Ukraine. Western Europe is one of the prominent producer of neon gas is anticipated to remain stable during the forecasted period. The neon gas market in the Middle East is projected to witness moderate growth, owing to the spurring urbanization and their lighting needs.
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Example of some of the market participants in the global Neon Gas market identified across the value chain include
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