Xenon Market: Current Analysis and Forecast (2021-2027)


Emphasis on Type (High Purity Xenon, Common Purity Xenon); Application (Semiconductor Industry, PDP Backlighting, Lighting, Medical Appliances, Others); and Region/Country









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Report Description
Table of content
Research Methodology

Report Description

Xenon Market
Xenon Market

Global xenon market is expected to reach the market valuation of around ~250 million by 2027 and is expected to grow at a single digit CAGR during the forecasted period (2021-2027). The increasing population coupled with surging per capita income has positively influence the adoption of consumer electronic goods which in turn has raise the use of xenon. According to secondary search, China had earned highest revenue of consumer electronic goods in 2019 followed United States, India and others. Xenon gas provides a better option in the field of lighting and insulation which proves to be a major factor catalyzing its demand. There is a wide variety of lamps that use xenon gas on a regular basis such as photographic flash lamps, high-intensive arc-lamps, bactericidal lamps, etc. These lamps offer better illumination as compared to conventional methods of lighting.

Emergence of pandemic situation is disrupting the global chemical industry and various niche product segments, and xenon gas is being one of them. Owing to the outbreak of coronavirus, the government across various geographies had regulated nationwide lockdown, which has resulted in various industries to stop their production activities. Since construction, aerospace, industrial manufacturing processed, and automotive are major consumers of xenon gas, these industries have refrained their production activities leading to wide gap between supply and demand.

Different Types of Xenon 2020

Wisco, Coregas, Messer Group, Beijing Shougang Oxygen Factory, Cryogenmash, Air Liquide, Air Product, BOC-MA Steel Gases, Nanjing Special Gas Factory Co. Ltd. are some of the prominent players operating in the global xenon market. Several M&As along with partnerships has been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Type, high purity xenon segment holds the major share”

Based on Type, the market is classified into high purity xenon and common purity xenon. Currently, high purity xenon acquired substantial share in the market. It is mainly owing to its purest form which is mainly use in healthcare industry such as medical equipment and aerospace industry. However, common purity xenon also caters considerable share owing to its growing demand from consumer goods, and other industries.

 “Amongst Application, lighting segment holds the major share”

Based on Application, the market is segmented into semiconductor industry, PDP backlighting, lighting, medical appliances and others. Currently, lighting segment held considerable market presence and expected to have consistent market demand in the projected year. It is mainly owing to the increasing adoption of LED technology. Whereas semiconductors segment had seen fastest growth over a period of time owing to the rising need for xenon gas for propulsion technology.

 “Asia Pacific represents one of the largest markets of Global Xenon Market”

For a better understanding of the market dynamics of the global xenon market, a detailed analysis was conducted for different regions including Asia Pacific, North America, Europe, Middle East & Africa, and Rest of the World. Asia Pacific constitutes the largest market for the industry and expected to have an influential growth rate in the projected years predominantly due to rising demand from satellite industry.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

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1.1.Market Definitions
1.3.Stake Holders
1.4.Currency Used in Report


2.1.Research Methodology for the global xenon market 
 2.1.1.Main Objective of the global xenon market 








7.1.High Purity Xenon
7.2.Common Purity Xenon
8.1.Semiconductor Industry
8.2.PDP Backlighting
8.4.Medical Applications
8.5.Others (electronics, Construction, aerospace and aircraft)


9.1.North America Xenon Market  
 9.1.1.United States
 9.1.3.Rest of North America
9.2.Europe Xenon Market  
 9.2.2.United Kingdom
 9.2.4.Rest of Europe
9.3.Asia Pacific Xenon Market 
 9.3.5.Rest of Asia-Pacific
9.4.Middle East & Africa Market
 9.4.2.Saudi Arabia
9.5.Rest of World Xenon Market 


10.1.Market Drivers
10.2.Market Challenges
10.3.Impact Analysis








14.1.Demand Side Analysis
14.2.Supply Side Analysis
 14.2.1.Top Product Launches
 14.2.2.Top Business Partnerships
 14.2.3.Top Business Expansions, Investments and Divestitures
 14.2.4.Top Merger and Acquisitions


16.1.Porter’s Five Forces Analysis
 16.1.1.Bargaining power of Supplier
 16.1.2.Bargaining power of Buyer
 16.1.3.Industry Rivalry
 16.1.4.Availability of Substitute
 16.1.5.Threat of new Entrants
16.2.Competitive Landscape
 16.2.1.Company Shares, By Revenue


17.1.Wisco,Air Water
17.3.Messer Group
17.4.Beijing Shougang Oxygen Factory
17.6.Air Liquide
17.8.Air Product
17.9.BOC-MA Steel Gases
17.10.Nanjing Special Gas Factory Co Ltd,




Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global xenon market were the three major steps undertaken to create and analyze the adoption of Xenon in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Xenon market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the global xenon market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the global xenon market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of global xenon market. Further, we conducted factor analysis using dependent and independent variables such as increasing deployment type of xenon and increasing adoption of different application of xenon gas. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the global xenon market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global xenon market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of global xenon market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global Xenon market in terms of type and application. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global xenon market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their application of the global Xenon market.

The main objective of the Global Xenon Market Study

The current & future market trends of global Xenon market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of global xenon market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type and application.
  • Define and analysis of the regulatory framework for the global xenon market industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the global Xenon market for the major region
  • Major regions studied in the report include Asia Pacific, Europe, Middle East & Africa, North America and Rest of the world.
  • Company profiles of the global Xenon market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry