Author: Vikas Kumar
10 January 2023
The global high-purity neon gas market is likely to showcase robust growth during the forecast period. Increasing investment in the semiconductor industry to deal with the shortage of chips is one of the key factors which is expected to drive the market for high-purity neon gas. In addition, growth in lighting and medical and LASIK lasers process are expected to aid in the market growth.
High-purity neon gas is commonly used in the manufacturing of semiconductor and memory chips, lighting applications, medical and LASIK lasers process, and cutting and manufacturing processes. Over the years, growth in the end-use industry has significantly increased the demand for high-purity neon gas however, currently, the industry faces severe impact due to the Russia-Ukraine conflict. Two of the largest high-purity neon gas producers have their manufacturing base in Ukraine, because of the war, these companies stopped their operations or working with reduced capacity. As a result, affecting the global supply chain, especially semiconductor production, which is already undergoing chip shortage. However, to tackle the demand, other players have taken several initiatives to increase the production of high-purity neon gas, which in turn is likely to help the market.
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Based on type, the market is categorized into neon 5.0, neon 5.5, and neon 6.0. During the forecast period, Neon 5.0 is expected to showcase significant growth. This can be ascribed to the fact that it is commonly used in the semiconductor industry. Furthermore, the low cost of Neon 5.0 relative to Neon 5.5 and Neon 5.5 supports its growth.
Based on application, the market is categorized into semiconductor and memory chips, lighting, medical and LASIK lasers, and cutting and manufacturing. Of all, the semiconductor and memory chips category is expected to witness robust growth during the foreseeable future. This can be ascribed to the increasing investment across the globe to improve the chips supply chain ecosystem. For instance, in January 2022, TSMC announced that the company will invest up to $44 billion in 2022 to expand chip manufacturing capacity, as the world faces acute chip shortage amid supply chain constraints.
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For a better understanding of the market adoption of High-Purity Neon Gas, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, Rest of North America), Europe (Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and Rest of World. The Asia-pacific held a significant share of the market and is expected to retain its position during the forecast period. The large base of the semiconductor and memory chip manufacturing industry and growing investment in the regional economies to establish chip production facilities are some of the key factors behind the regional growth.
Global High-Purity Neon Gas Market Segmentation
Market Insight, by Type
• Neon 5.0
• Neon 5.5• Neon 6.0
Market Insight, by Application
• Semiconductor and Memory Chips
• Lighting• Medical and LASIK Lasers• Cutting and Manufacturing
Market Insight, by Region
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