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February 27, 2023|Chemicals & Materials

5 Biggest Names in the Booming Neon Market Industry in 2023

Neon is well known for its distinctive capacity to generate bright, glowing colours in an electric field. As a result, it has several uses in the lighting and photography industries. Because neon gas can produce highly-penetrative lasers, it is also utilised to make fog lights in addition to advertising signs and billboards. As a result, nations with colder climates are consuming more neon gas. Neon is a very versatile substance in the lighting and image industries since it also has the ability to mix with other gases to create a wide range of colours.Due to its application in the production of semiconductors and consumer electronics, the neon gas business is expanding quickly, particularly in the Asia Pacific region. Its use in the automobile, transportation, aerospace, and aircraft industries is what is driving North America and Europe's consumption of it.

Business Research Insights™ predicts that the global neon market could be worth USD 57 million by the end of 2028 From an annual valuation worth USD 45 million in 2022, the industry share is projected to rise at a 4.1% CAGR during 2022-2028.

Business Research Insights™ Presents the Top 5 Neon Market Players Globally 

A multinational chemical corporation with its headquarters in the UK and an Irish domicile since 2018, Linde plc was formed in Germany. According to market share and revenue, Linde is the biggest industrial gas firm in the world. The company's main line of business is the production and delivery of process gases such carbon dioxide, helium, hydrogen, ammonia, electronic gases, speciality gases, and acetylene as well as atmospheric gases like oxygen, nitrogen, argon, and rare gases.

A French international corporation, Air Liquide , provides industrial gases and services to a range of sectors, including the chemical, electrical, and medical industries. It was established in 1902 and today, based on revenue, is the second-largest provider of industrial gases, with operations spread over more than 80 nations. The company's research and development (R&D) efforts are focused on producing industrial gases as well as gases that are used in a variety of other products, including chemicals, electronic chips, meals, and healthcare products. 

Selling gases and chemicals for industrial usage is the main line of business for Air Products and Chemicals, Inc., an American multinational firm. The administrative centre of Air Products is located in Allentown, Pennsylvania, in the state's Lehigh Valley. The tenth largest employer in Pennsylvania's Lehigh County is Air Products. Air Products provides atmospheric industrial gases (primarily oxygen, nitrogen, argon, hydrogen, and carbon dioxide), process and specialised gases, performance materials, and chemical intermediates to customers in the technology, energy, healthcare, food, and industrial markets across the globe.

Hoxan Corporation, Daido Sanso Co., Ltd., and Kyodo Oxygen Co., Ltd., three businesses with distinct histories and cultures, were combined to become Air Water Inc. in 2000. This was done to start a new mission and purpose: to offer services that reinvent business and society through "air and water." Since that time, the new company has engaged in aggressive M&A activities to strengthen the Group as a whole, grow its business areas, and diversify its revenue streams.

Messer Group GmbH is an industrial gas supplier. The company's operations are concentrated on 30 European and Asian countries. The company's headquarters are in Bad Soden (Germany). Messer sells industrial gases such as oxygen, nitrogen, argon, carbon dioxide, hydrogen, helium, shielding gases, and medical gases.

How has COVID-19 Impacted the Neon Market ?

The chemical sector has been observing the negative consequences of the COVID-19 outbreak. The chemical industry is crucial in the production of numerous items such as plastic, fertilisers, medications, and packaging materials. With the spread of the coronavirus, several manufacturing facilities in a variety of end-user industries have been shut down. As a result, the demand for chemicals utilised in these facilities has decreased. As a result, the continued expansion of COVID-19 over the world is anticipated to have an impact on demand for chemicals.

How will Neon Gas Industry Grow in the Coming Years?

Neon gas is utilised in the production of LCD screens, which have a wide range of applications in consumer electronics. Aside from that, it has numerous applications in the production of semiconductors, which are essential to the operation of any electronic product. As a result, fast growth in the consumer electronics sector is predicted to stimulate growth in the neon gas business, particularly in Asia Pacific.

Neon gas has numerous applications in the aerospace and aircraft industries. It is utilised as an aeroplane beacon due to its extensive illuminating qualities, and it is also employed as a coolant for various aircraft equipment. This is projected to contribute even more to industry growth in the coming years.