Dublin, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The "Global Neon Gas Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The market is poised for substantial growth. Projections indicate a robust compound annual growth rate (CAGR) of 10.2% between 2023 and 2028, ultimately reaching a value of USD 596.80 million by 2028.
The Versatile World of Neon Gas
Neon gas, known for its colorless, odorless, and tasteless properties in its natural state, finds diverse applications:
- Neon Signs and Lighting: Neon gas is a primary component for creating iconic neon signs, high-voltage indicators, and gas discharge tubes. Its use extends to cryogenic refrigeration, filling gas for glass windows, and as a crucial element in lasers.
- Electronics: The electronics industry is a significant driver of the neon gas market. Increasing demand for electronic products, especially in emerging economies, has led to greater neon gas consumption. Neon gas plays a vital role in laser technology, with applications in healthcare, telecommunications, and defense.
- Automotive: Neon gas contributes to the production of high-intensity discharge (HID) lamps used in automotive headlights. These lamps offer improved visibility and extended lifespan compared to traditional halogen lamps. The automotive sector's pursuit of energy-efficient lighting solutions is boosting the demand for neon gas.
- Lighting Industry: Neon gas plays a pivotal role in the lighting industry, particularly in the production of eye-catching neon signs. Rising demand for advertising and decorative lighting in commercial establishments, such as restaurants, bars, and retail stores, is driving market growth. Additionally, neon signs are known for their energy efficiency and longevity, making them a favored choice for businesses.
Market Segmentation
The neon gas market is segmented based on application, end use, and region:
- Market by Application: Semiconductor, LCD, Imaging and Lighting, Laser, Others
- Market by End Use: Aerospace and Aircraft, Automotive and Transportation Equipment, Electronics, Healthcare, Others
- Market by Region: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
Competitive Landscape
Key players in the global neon gas market include:
- Linde plc
- L'Air Liquide S.A (Air Liquide)
- Ingas LLC
- Cryoin Engineering Ltd
- Messer Group GmbH
These industry leaders continue to shape the neon gas market through strategic investments, acquisitions, and innovations, further contributing to its impressive growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 134 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $367.59 Million |
| Forecasted Market Value (USD) by 2028 | $596.8 Million |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ikeaj
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