Bharat Book Bureau Provides the Trending Market Research Report on “Global Neon Gas Market Report and Forecast 2022-2027”under Chemicals Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
According to Our Company’s latest report, ‘Global Neon Gas Market Report and Forecast 2022-2027’, the global neon gas market, by volume, is estimated to reach 891.92 million litres by 2027, growing at a CAGR of 7.1% during 2022-2027.
Neon gas is defined as an inert monoatomic gas which belongs to the group 18 of the periodic table. It is colourless, odourless, tasteless, and lighter than air. Neon gas is found in the earth’s atmosphere at a concentration of 18 ppm and is procured by the fractional distillation of liquid air, followed by the removal of helium from the mixture. It is a non-toxic and non-reactive gas which finds application in the neon signs for advertising, high-voltage indicators, switching gear, lighting arresters, and diving equipment lasers. Furthermore, neon gas is used in the lithography step which is crucial for the development of semiconductor chips. This is one of the major uses of neon gas which is propelling the market growth.
The thriving electronics and automotive industry are spearheading the demand for semiconductor devices and chips, which is a major driving factor of the global neon gas market. The increasing adoption of consumer electronics, such as LCD displays, and refrigerators, among others is anticipated to boost the demand for neon gas in the forecast period. Moreover, the growing expansion of the advertising and marketing industry is likely to accelerate the demand for neon gas for imaging and lighting applications. The Russian invasion of Ukraine has led to a decline in the production volume but increase in the prices of semiconductor chips which bolstered the revenue for the neon gas market. However, in the coming years, the market is anticipated to stabilise due to the growing dependance on semiconductor devices. In terms of region, North America accounts for a significant share in the market owing to the increasing demand for helium-neon lasers for biomedical applications in the healthcare industry. Moreover, the strong foothold of the major semiconductor manufacturers in the region is anticipated to be a propelling factor in the market.
Market Segmentation
The market report by Our Company analyses the market based on segmentations such as application, end use, and major region.
Market Breakup by Application
•Semiconductor
•LCD
•Imaging and Lighting
•Laser
•Others
Market Segmentation by End Use
•Aerospace and Aircraft
•Automotive and Transportation Equipment
•Electronics
•Healthcare
•Others
Market Breakup by Region
•North America
•Europe
•Asia Pacific
•Latin America
•Middle East and Africa
Browse our full report with Table of Content : https://www.bharatbook.com/report/1341468/global-neon-gas-market-report-and-forecast
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