Global Neon Gas Market Report 2022-2027: Market Shares, Plant Turnarounds, Capac… – Press Release

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The “Global Neon Gas Market Report and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

According to this 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 dependence on semiconductor devices. In terms of region, North America accounts for a significant share in the market owing to the…

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