Rare Gases Market Research Report By Application (Memristor, CMOS Devices, Silicon Carbide Device), By Industry (Semiconductors, Military & Aerospace, Consumer Electronics), By Form (GaN-on-Si, Bulk GaN, GaN-on-GaN), By Grade (Electronics Grade, Solar Grade, Industrial Grade), By Supplier Type (Raw Material Suppliers, Device Manufacturers, Foundries) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Rare Gases Market Overview

The Rare Gases Market Size was estimated at 2.46 (USD Billion) in 2022. The Rare Gases Industry is expected to grow from 2.6 (USD Billion) in 2023 to 4.2 (USD Billion) by 2032. The Rare Gases Market CAGR (growth rate) is expected to be around 5.48% during the forecast period (2024 - 2032).

Key Rare Gases Market Trends Highlighted

The key market drivers for rare Gases include the rising consumption of gallium-based semiconductors in the automotive and electronics industry, the growing use of gallium alloys in the aerospace industry, as well as the increasing requirement for gallium in the manufacture of highly efficient solar cells. Market entry opportunities that have to be explored or tapped in the rare Ga market include the emergence of new gallium materials with better properties, the increase in gallium-based applications in health care and energy, along the rising levels of demand for gallium-based products in developing countries. In the recent past, trends that have been observable in the rare Ga market include the increasing attention towards sustainability and environmental issues, the rising integration of gallium-based technologies in the automotive, electronics, and construction industries, as well as the rising demand for gallium, used in high-efficiency solar cells.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Rare Gases Market Drivers

Rising Demand for Gallium in Electronics

The electronics industry is a major driver of growth in the Rare Gases Market Industry. Gallium is used in a variety of electronic devices, including smartphones, laptops, and televisions. The increasing demand for these devices is expected to continue to drive growth in the market for gallium. In addition, gallium is also used in the production of solar cells, which are becoming increasingly popular as a source of renewable energy. The growing demand for solar cells is also expected to contribute to the growth of the market for gallium. Gallium is a relatively rare metal, and its supply is limited.This has led to concerns about the sustainability of the gallium market. However, there are a number of initiatives underway to develop new sources of gallium, and these initiatives are expected to help meet the growing demand for this metal. The Rare Gases Market Industry is expected to grow at a CAGR of 5.48% from 2023 to 2032. This growth is expected to be driven by the increasing demand for gallium in the electronics industry and the growing popularity of solar cells.

Growing Demand for Gallium in Aerospace

The aerospace industry is another major driver of growth in the Rare Gases Market Industry. Gallium is used in a variety of aerospace applications, including jet engines and spacecraft. The increasing demand for air travel and the growing number of space missions are expected to continue to drive growth in the market for gallium. Gallium is a critical material for the aerospace industry. It is used in the production of high-performance jet engines and spacecraft.Gallium is also used in the production of thermal protection systems, which are used to protect spacecraft from the heat of re-entry into the Earth's atmosphere. The Rare Gases Market Industry is expected to grow at a CAGR of 5.48% from 2023 to 2032. This growth is expected to be driven by the increasing demand for gallium in the aerospace industry and the growing popularity of solar cells.

Growing Demand for Gallium in Medical Applications

The medical industry is another major driver of growth in the Rare Gases Market Industry. Gallium is used in a variety of medical applications, including cancer treatment and drug delivery. The increasing demand for these applications is expected to continue to drive growth in the market for gallium. Gallium is a promising material for the medical industry. It is used in the production of cancer drugs and drug delivery systems. Gallium is also used in the production of medical imaging agents, which are used to diagnose and treat diseases. The Rare Gases Market Industry is expected to grow at a CAGR of 5.48% from 2023 to 2032.This growth is expected to be driven by the increasing demand for gallium in the medical industry and the growing popularity of solar cells.

Rare Gases Market Segment Insights

Rare Gases Market Application Insights

The application segment of the Rare Gases Market is categorized into Memristor, CMOS Devices, and Silicon Carbide Device. Memristor is a promising application segment, with a projected market size of USD 1.2 billion by 2024. Its unique properties, such as non-volatility and high-density storage, make it ideal for emerging technologies like neuromorphic computing and artificial intelligence. CMOS Devices, another significant segment, is expected to reach a market value of USD 1.5 billion by 2024. The growing demand for power-efficient and high-performance electronics drives this segment's growth.Silicon Carbide Device is a rapidly expanding segment driven by the increasing adoption of electric vehicles and renewable energy systems. Its ability to withstand high voltages and operate at high temperatures makes it suitable for power electronics applications. Overall, the application segment of the Rare Gases Market offers significant growth opportunities, with each segment driven by unique factors and technological advancements.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Rare Gases Market Industry Insights

The rare Ga market is segmented into various industries, including semiconductors, military aerospace, and consumer electronics. The semiconductors segment is projected to account for the largest share of the market in 2023, with a valuation of USD 1.2 billion. The military aerospace segment is expected to grow at a CAGR of 5.8% during the forecast period, reaching a valuation of USD 0.8 billion by 2032. The consumer electronics segment is anticipated to have a valuation of USD 0.6 billion in 2023 and is projected to grow at a CAGR of 5.2% over the forecast period.

Rare Gases Market Form Insights

The market is segmented by Form into 'GaN-on-Si', 'Bulk GaN', and 'GaN-on-GaN'. GaN-on-Si is a type of gallium nitride (GaN) semiconductor that is grown on a silicon substrate. GaN-on-Si is less expensive to produce than Bulk GaN and GaN-on-GaN, making it a more attractive option for high-volume applications. Bulk GaN is a type of GaN semiconductor that is grown on a GaN substrate. Bulk GaN has better electrical properties than GaN-on-Si, but it is also more expensive to produce. GaN-on-GaN is a type of GaN semiconductor that is grown on a GaN substrate.GaN-on-GaN has the best electrical properties of the three types of GaN semiconductors, but it is also the most expensive to produce.

Rare Gases Market Grade Insights

The Rare Gases Market is segmented by Grade into Electronics Grade, Solar Grade, and Industrial Grade. The Electronics Grade segment is expected to account for the largest share of the market in 2024, owing to the increasing demand for GaN-based semiconductors in electronics applications. The Solar Grade segment is expected to witness significant growth over the forecast period, driven by the rising adoption of solar energy worldwide. The Industrial Grade segment is also expected to grow steadily, driven by the increasing use of Ga in various industrial applications.

Rare Gases Market Supplier Type Insights

The Rare Gases Market is segmented by supplier type into Raw Material Suppliers, Device Manufacturers, and Foundries. Raw Material Suppliers accounted for the largest share of the Rare Gases Market in 2023 and are expected to continue to dominate the market over the forecast period. This is due to the increasing demand for rare earth materials, such as gallium, from various industries, including electronics, aerospace, and automotive. Device Manufacturers are expected to witness the fastest growth over the forecast period, owing to the increasing adoption of gallium-based devices, such as light-emitting diodes (LEDs) and solar cells.Foundries are expected to account for a significant share of the Rare Gases Market over the forecast period due to the growing demand for gallium-based wafers for the production of semiconductors.

Rare Gases Market Regional Insights

The Rare Gases Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023, owing to the presence of a large number of rare earth mining companies. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness the highest CAGR during the forecast period due to the increasing demand for rare earth metals from emerging economies such as China and India. South America and MEA are expected to account for a relatively small share of the market.However, these regions are expected to witness significant growth in the coming years, owing to the increasing demand for rare earth metals from emerging economies in these regions.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Rare Gases Market Key Players And Competitive Insights

Major players in the Rare Gases Market industry are constantly striving to gain a competitive edge by investing heavily in research and development, expanding their product portfolios, and forming strategic partnerships. This competitive landscape is expected to further intensify in the coming years, driving innovation and growth within the Rare Gases Market. Leading Rare Gases Market players are focusing on developing novel applications for Gallium, exploring new markets, and optimizing production processes to meet the evolving demands of customers. The Rare Gases Market development is being shaped by technological advancements, such as the development of high-efficiency Gallium-based semiconductors and the growing adoption of Gallium in various electronic devices. This dynamic competitive landscape is expected to provide ample opportunities for established players and emerging entrants alike.Among the leading Rare Gases Market players is a prominent player with a strong presence. The company has a diversified product portfolio, including Gallium metal, Gallium compounds, and Gallium-based solutions. Its strong focus on research and development has enabled it to develop innovative products and technologies. The company has a wide distribution network and a strong customer base, which contributes to its dominant position in the Rare Gases Market. It has a well-established reputation for quality and reliability, and its products are highly regarded by customers. The company's commitment to sustainability and its efforts to minimize its environmental footprint further enhance its position in the Rare Gases Market.Another key competitor in the Rare Gases Market is. The company has a strong focus on Gallium production, and it has invested heavily in expanding its production capacity. It has a wide product range, including Gallium metal, Gallium compounds, and Gallium-based alloys. The company has a strong presence in Asia and Europe, and it is expanding its reach into new markets. Its focus on innovation and customer satisfaction has enabled it to gain a competitive edge in the Rare Gases Market. The company's commitment to quality and its ability to meet the evolving needs of customers contribute to its strong position in the market.

Key Companies in the Rare Gases Market Include

• OSRAM


• Vacumet


• Geomaterials


• Heraeus


• Compagnie Européenne du Gallium


• Gallium Technology


• Gallium Resources


• Gallium Semiconductor


• Rare Earth Elements


• MTI


• Umicore


• Yixing Etac


• Materion Corporation


• Rectifier Technologies


• Rockwood Lithium

Rare Gases Market Industry Developments

The Rare Gases Market is projected to reach a valuation of USD 4.2 billion by 2032, expanding at a CAGR of 5.48% over the forecast period of 2024-2032. Rising demand for Ga-based semiconductors and increasing adoption of GaN-based power electronics are major factors driving market growth. Recent news includes the development of high-efficiency GaN power transistors by researchers at the University of California, Berkeley, which could revolutionize the electronics industry. Additionally, the growing adoption of GaN-based LEDs in automotive lighting and consumer electronics is expected to further boost market demand. Key players in the market include Sumitomo Metal Mining, H.C. Starck, and Umicore.

Rare Gases Market Segmentation Insights

• Rare Gases Market Application Outlook
  
  
  
  • Memristor
  
  
  • CMOS Devices
  
  
  • Silicon Carbide Device
  
  
  
  


• Rare Gases Market Industry Outlook
  
  
  
  • Semiconductors
  
  
  • Military Aerospace
  
  
  • Consumer Electronics
  
  
  
  


• Rare Gases Market Form Outlook
  
  
  
  • GaN-on-Si
  
  
  • Bulk GaN
  
  
  • GaN-on-GaN
  
  
  
  


• Rare Gases Market Grade Outlook
  
  
  
  • Electronics Grade
  
  
  • Solar Grade
  
  
  • Industrial Grade
  
  
  
  


• Rare Gases Market Supplier Type Outlook
  
  
  
  • Raw Material Suppliers
  
  
  • Device Manufacturers
  
  
  • Foundries
  
  
  • Rare Gases Market Regional Outlook
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa