DUBLIN, Jan. 02, 2025 (GLOBE NEWSWIRE) — The “United States Rare Gases Market, by Region, Competition, Forecast and Opportunities, 2019-2029F” report has been added. of ResearchAndMarkets.com The offer

The United States rare gases market was valued at USD 256.32 million in 2023, and is expected to reach USD 325.30 million by 2029, growing at a CAGR of 4.23%.

The rare gases market is experiencing significant growth in demand from various industries including healthcare, construction, manufacturing, and lighting. These gases, also known as noble gases, include helium, neon, argon, krypton, xenon and radon, each with unique properties that make them suitable for specific applications.

As these gases continue to find new applications and their use expands across sectors, the rare gas market in the United States is poised for substantial growth. With industries constantly innovating and discovering new uses for these gases, the market potential is predicted to grow even higher in the future.

Therefore, stakeholders operating in the rare gases market should take advantage of the growth opportunities. By investing in research and development initiatives and expanding their product offerings, they can capitalize on the optimistic outlook for the rare gases market in the United States. With such a promising future, the rare gases market is sure to witness remarkable growth and success in the coming years.

Key market trends

Increasing demand for rare gases in healthcare and medical imaging

Rare gases, such as helium, neon, argon, krypton, xenon, and radon, have found significant applications in the health care field due to their unique properties. For example, helium plays an important role in cooling the superconducting magnets in magnetic resonance imaging (MRI) scanners, enabling accurate and detailed imaging of the human body.

Additionally, xenon gas is gaining popularity in medical imaging, increasing its demand in the market. Its ability to enhance the visibility of specific tissues and organs in imaging studies has made it a preferred choice in modern diagnostic techniques. This trend is expected to continue as advances in medical technology require the use of more advanced imaging techniques to improve patient care and treatment outcomes.

Looking ahead, the future of the rare gases market in the United States looks promising, driven by growing demand in the healthcare and medical imaging sectors. As the healthcare industry continues to evolve and adopt advanced diagnostic and treatment methods, the demand for rare gases is likely to increase further. Market players should capitalize on this opportunity by investing in research and development for new applications, exploring innovative uses of rare gases, and expanding production capacities to meet growing demand.

Application Insights

The electronics segment will experience rapid growth during the forecast period. Noble gases, including helium, neon, argon, krypton, xenon and radon, have found considerable use in the electronics industry due to their unique properties. For example, neon, with its vibrant glow, is widely used in lighting and signage for advertising, creating eye-catching visual displays that grab attention. On the other hand, helium, known for its low boiling point, is important for cooling the superconducting magnets in MRI scanners, ensuring their optimal performance and accuracy.

Additionally, the use of rare gases such as xenon in electronics has been steadily increasing in recent years. This growth is due to emerging trends towards the use of xenon in various industries including electronics and automotive. Xenon’s exceptional properties, such as its high light output and stable emission, make it an ideal choice for applications such as advanced lighting systems and high-intensity discharge lamps.

The growing use of rare gases in the electronics industry is not only changing technological advancements but also fueling the growth of the United States rare gases market. Demand for electronic grade rare gases is witnessing significant growth, with key players strategically positioning themselves to meet growing market needs across regions, particularly in North America. . This thriving market offers lucrative opportunities for innovation and development in rare gas technologies, further driving the growth of the electronics industry.

Regional insight

The Midwest emerged as the dominant player in the United States rare gases market in 2023, holding the largest market share in terms of value. The Midwest region, known for its vast landscapes and diverse ecosystems, is not only rich in natural resources but also a center of scientific research and technological development. Among the valuable resources found in this region, uranium and thorium stand out due to their unique ability to continuously form helium through the process of radioactive decay. This exciting event has not only contributed to the scientific understanding of the elements, but has made the Midwest a prominent player in the rare gases market.

In addition to its natural resources, the Midwest has a strong industrial sector that includes manufacturing, metallurgy, and energy production. These industries, driven by innovation and driven by skilled workers, have created a huge demand for rare gases. Additionally, rapid urbanization in the region has fueled the growth of the construction industry, further increasing the demand for these precious gases.

Midwest’s commitment to research and development has yielded remarkable results, leading to the discovery of new and exciting applications for rare gases. For example, the versatility and productivity of corn, a major Midwest crop, has prompted scientists and engineers to explore new uses for these gases. This ongoing search has not only expanded the market for rare gases but also opened doors to sustainable and environmentally friendly solutions in various industries.

Key attributes:

Scope of the report:

Key Market Players

• Linde North America, Inc.
• Air Products and Chemicals, Inc
• Praxair, Inc.
• American Air Liquide Holdings, Inc.
• Matheson Tri-Gas, Inc.

United States Rare Gases Market, By Type:

United States Rare Gases Market, By Application:

• Automotive
• Electronics
• Consumer durables
• construction
• Others

United States Rare Gases Market, by Region:

• Northeast
• Midwest
• South
• West

For more information on this report, visit https://www.researchandmarkets.com/r/sl68qb.

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