In Q1 and Q2 2023, the cost of Neon gas used in semiconductor manufacturing witnessed a decline due to disrupted supply chains resulting from Russia’s invasion of Ukraine. This situation led to weak buyer purchasing power and inventory accumulation. Despite this, Neon gas found support from its application in lasers for healthcare, sensors, and defense equipment. The invasion impacted global supply, causing the gas’s price trend to rise. Businesses aimed to mitigate supply shortages by expanding production, but inventory depletion pushed some towards cheaper alternatives like argon, restricting the growth of Neon’s price trend.
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Definition
Neon gas is a chemical element and a noble gas with the atomic number 10 and symbol Ne on the periodic table. It is colorless, odorless, and inert, meaning it doesn’t readily react with other elements or compounds. Neon is best known for its distinctive bright reddish-orange glow when electrified, making it a popular choice for neon signs and lighting. It is obtained through fractional distillation of liquefied air and is used not only for decorative lighting but also in lasers, as a cooling medium in cryogenics, and as a tracer gas in scientific research and leak detection applications.
Key Details About the Neon Gas Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Neon Gas in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Neon Gas Price chart, including India Neon Gas price, USA Neon Gas price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Neon Gas Price Trend:
Neon gas, despite its limited reactivity, has important industrial applications. Its most iconic use is in neon signs and lighting, where its distinctive glow creates eye-catching displays. Neon also plays a role in lasers for scientific, medical, and industrial purposes, where it aids in generating high-intensity beams. In the cryogenic field, neon is used to achieve ultra-low temperatures for various applications. Additionally, it serves as a tracer gas in leak detection and quality control processes, helping to identify and locate leaks in industrial systems, ensuring safety and efficiency.
Key Players:
- Airgas
- Linde Group
- Messer Group
- Baosteel
- Air Liquide
- Wuhan Steel Group
- INGAS
- Matheson
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