United States Rare Gases Market to Grow with a CAGR of 4.23% through 2029

Surge in research and development activities is expected to drive the United States Rare Gases Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “United States Rare Gases Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, the United States Rare Gases Market stood at USD 256.32 million in 2023 and is anticipated to grow with a CAGR of 4.23% in the forecast period through 2029. The initiatives taken by government based on rare gases has led to favorable market conditions for the United States Rare Gases Market. Several factors contribute to the growth of various rare gases market products.

Recognizing the importance of transparency and accountability in combating climate change, the US government has implemented measures to ensure that major Federal suppliers adhere to sustainable practices. In line with this, these suppliers are now obligated to publicly disclose their greenhouse gas (GHG) emissions, providing valuable data that can be used to assess and monitor their climate impact. Furthermore, they are also required to disclose any climate-related financial risks they may face, emphasizing the government's commitment to fostering a resilient and sustainable economy. By implementing such measures, the US government aims to encourage responsible business practices and foster a culture of environmental stewardship in the supply chain.

Research and development activities have played a crucial role in unlocking the untapped potential of rare gases and exploring their diverse applications. For example, a team of researchers from San Diego State University is currently engaged in the groundbreaking task of designing specialized bacteria capable of extracting rare earth elements (REEs). This innovative approach not only showcases the immense possibilities of these gases but also highlights the significant strides being made in the field of scientific exploration and technological advancements. By continuously pushing the boundaries of knowledge and innovation, researchers are paving the way for a future where rare gases can revolutionize various industries and contribute to the development of cutting-edge technologies.

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The United States Rare Gases Market is segmented in type, application, region and company.

Based on its type, the neon segment emerged as the dominant player in the United States market for rare gases in 2023. Neon, one of the noble gases found in the earth's atmosphere, is widely known for its distinct red-orange glow when used in lighting. This unique property, combined with its color stability, high visibility, and low reactivity, makes neon an ideal choice for a wide range of applications. Whether it's illuminating storefronts, creating eye-catching signs, or adding a touch of vibrant color to architectural designs, neon has become synonymous with captivating visual displays. One of the key factors contributing to neon's dominance in the rare gases market is its unparalleled versatility and broad application scope. While neon is extensively used in lighting and signage for advertising purposes, its uses go far beyond that. The vibrant colors and high luminosity of neon make it a popular choice in various industries. For instance, neon-based lasers are employed in industrial settings for high-precision cutting and welding, ensuring exceptional accuracy and efficiency. Besides, neon has also found its way into the medical field, where it plays a crucial role in photodynamic therapy, a technique used to treat certain types of cancer and other medical conditions.

Major companies operating in United States Rare Gases Market are:

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

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“Growing application of rare gases in various end user industries are key drivers of the rare gases market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of rare gases with every passing year are anticipated to register an impressive growth to United States Rare Gases Market in the forecast period”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“United States Rare Gases Market By Type (Neon, Krypton, Xenon), By Application (Automotive, Electronics, Consumer Durables, Construction, Others), By Region, Competition Forecast & Opportunities, 2019-2029F”, has evaluated the future growth potential of United States Rare Gases Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States Rare Gases Market.

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