The global noble gases market size is expected to reach USD 53.71 billion by 2028, exhibiting a CAGR of 3.89% during the forecast period. The surging demand for helium will spur lucrative opportunities for the market during the forecast period, states Fortune Business Insights in a report titled “Noble Gases Market, 2021-2028.” The noble gases market size stood at USD 40.34 billion in 2020.
Booming Steel Production to Benefit Noble Gases Industry
With the uptick in construction and car manufacturing activity following Covid-19, demand for steel and steel products is expected to rise significantly in the coming years. According to the World Steel Association, global crude steel output grew by 1.75 percent year over year from 1,814 million tonnes in 2018 to 1,878 million tonnes in 2020.