Global Neon Gas Market to Grow at a Rapid Pace During 2024-2032, Driven by Growing Demand for Semiconductors and LASIK Eye Surgeries

The neon gas market is driven by the growing demand for excimer lasers for LASIK eye surgery and semiconductor demand for consumer goods. The gas is the largest component in excimer laser gas mixtures that generate laser light enabling precise photolithography and controlled annealing of polysilicon films for flat panel displays and semiconductors. Further, since excimer lasers do not cause scarring of the eye during surgeries, they are gaining popularity in LASIK eye surgeries.

The Asia Pacific is anticipated to hold a significant share of the market owing to expanding semiconductor manufacturing in the region. It accounts for around 75% of semiconductor manufacturing capacity and is home to several suppliers of key materials such as silicon wafers, photoresists, and other speciality chemicals, especially in China and East Asia. As the demand for semiconductors increases from various sectors, such as consumer electronics, automotive and transportation, it aids the demand for neon gas. Rising investments in the development of new manufacturing plants is expected to favour the demand for neon gas.

For instance, in September 2023, China announced the launch of a new state-backed investment fund to raise about USD 40 billion for its semiconductor sector to achieve self-sufficiency in semiconductors. In another case, in February 2023, Taiwan Semiconductor Manufacturing Co (NYSE: TSM) announced its plans to construct a second chip plant in Japan to produce 5 and 10 nanometers chips in the second half of the decade. The project is expected to help Japan meet the rising demand for semiconductors driven by rapid digitalisation globally.

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Market Breakup by Application, End Use, and Region:

• The market is segmented based on application into semiconductor, LCD,  imaging and lighting, and laser, among others.

• By end use, the market is segmented into aerospace and aircraft, automotive and transportation equipment, electronics, and healthcare, among others.

• Region-wise, the global market for neon gas  can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Neon gas is inert and plays a crucial role in the manufacturing of semiconductor chips. The gas helps make the deep ultraviolet (DUV) light that is crucial in the photolithographic process to pattern semiconductors.

• Neon plays a vital role in excimer lasers, a type of UV laser. The demand for these UV lasers is rising in popularity in laser eye surgery (LASIK) to treat short-sightedness, long-sightedness, and astigmatism, as it does not cause scarring.

• The automotive and transportation sector is rapidly growing, driven by rising disposable income. Automotive lamp manufacturers deploy neon gas to make high-quality bright light with long-lasting performance.

• In the aerospace and aircraft sector, neon gas finds use as a coolant for ultra-sensitive infrared imaging and detection equipment.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for neon gas for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the application, end use, and major regions of neon gas.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global neon gas market are Linde plc, L’Air Liquide S.A. (Air Liquide), Ingas LLC, Cryoin Engineering Ltd., and Messer Group GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report:

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