South Korea Neon Gas Market Report and Forecast 2024-2032

South Korea Neon Gas Market Size

The South Korea neon gas market is projected to grow at a CAGR of 5.20% between 2024 and 2032.

South Korea Neon Gas Market Outlook

• As per the report from the Korea Customs Office, the overall import of neon gas reached a volume of 102,782 litres in 2023.

• As per the industry reports in 2022, the semiconductor sector of South Korea is 100 per cent dependent on neon gases.

• SK Hynix Inc. in collaboration with its South Korean partner, TEMC Co., announced in May 2024 that it has developed neon gas recycling technology for the manufacture of chips.

South Korea Neon Gas Market Growth

Growing demand for neon gas from the electronics sector and healthcare sector is one of the major factors influencing the neon gas market growth. In the electronics sector, it is mainly utilised in neon signs to offer eye-catching and vibrant displays, especially for advertising purposes. Meanwhile, in the healthcare sector, it is widely used in neonatal care units to offer optimal breathing support to premature babies dealing with respiratory problems.

The rising usage of neon-based LEDs in the country is due to their lower energy consumption compared to conventional bulbs is another crucial factor propelling the market expansion. These bulbs also offer an increased lifespan, a variety of colours, and high visibility, which makes them a preferable option among customers.

Strategic initiatives by some of the leading technology companies in the country are expected to aid the market development. For instance, Samsung Electronics Co. announced on March 7th, 2024 that it aims to incorporate recycled neon gas in its chip production, in tandem with the sustainability efforts by the companies, for the consumption of resources.

South Korea Neon Gas Industry Segmentation

“South Korea Neon Gas Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Application

• Semiconductor

• LCD

• Laser

• Imaging and Lighting

• Others

Market Breakup by End Use

• Aerospace and Aircraft

• Automotive and Transportation Equipment

• Electronics

• Healthcare

• Others

South Korea Neon Gas Market Share

Healthcare sector is increasingly using neon gas. Neon gases are also finding rising applications in the field of laser technology, particularly in the helium-neon lasers that are largely utilised in medical procedures and scientific research, among others. Moreover, these gases are incorporated in cryogenic applications such as cryosurgery for the removal of tissues as they exhibit favourable properties at low temperatures. This demand is also driven by the advancements in the medical sector as well as the research and development efforts by medical professionals.

Leading Companies in South Korea Neon Gas Market

The market players are increasing their collaboration and research and development activities to gain a competitive edge in the market.

• TEMC Co. Ltd.

• Linde Plc

• Air Products and Chemicals Inc.

• Messer Group GmbH

• Others

Key Highlights of the Report