Global Xenon Market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Himanshu Patni
- November 18, 2021
- CHEMICAL, NEWS
- Xenon Market, Xenon Market growth, Xenon Market share, Xenon Market size, Xenon Market trends
- 0 Comments
Global xenon market is expected to reach a market valuation of around ~250 million by 2027 and is expected to grow at a single-digit CAGR during the forecasted period (2021-2027). It is mainly owing to 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. Moreover, xenon gas is beneficial in the production of helium-neon lasers which are used in barcode scanners. These characteristics and benefits of xenon gas have been contributing to its propelling demand across the globe.
Xenon is an odorless, colorless, tasteless, inflammable, monatomic, and nonreactive noble gas. Among the noble gases, xenon is the brightest, and emits blue light when electric current is passed through it; this property is utilized for lighting purpose. Xenon gas is a trace gas, which can be found in earth’s atmosphere and can also be obtained or produced commercially as a by-product during the separation of oxygen and nitrogen in air-separation units
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Emergence of pandemic situation is disrupting the global chemical industry and various niche product segments, and xenon gas is being one of them. Due to the outbreak of coronavirus in 2020, the government across various geographies had imposed 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.
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 adoption of consumer goods, and other end-users industries.
Based on Application, the market is segmented into semiconductor industry, PDP backlighting, lighting, medical appliances and others. Currently, lighting segment 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.
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For better understanding of the market, the report provides detail analysis for major region and country including North America (US, Canada, rest of North America); Europe (Germany, UK, France, rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Middle East & Africa (UAE, Saudi Arabia, South Africa, Nigeria, and Egypt), and Rest of 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.
Some of the major players operating in the market include Wisco, Coregas, Messer Group, Beijing Shougang Oxygen Factory, Cryogenmash, Air Liquide, Air Product, BOC-MA Steel Gases, Nanjing Special Gas Factory Co. Ltd.
Global Xenon Market Segmentation
Market Insight, by Type
- High Purity Xenon
- Common Purity Xenon
Market Insight, by Application
- Semiconductor Industry
- PDP Backlighting
- Medical Applications
- Others (electronics, construction, aerospace and aircraft)
Market Insight, by Region
- North America Xenon Market
- United States
- Rest of North America
- Europe Xenon Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Xenon Market
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of World Xenon Market
Top Company Profiles
- Messer Group
- Beijing Shougang Oxygen Factory
- Air Liquide
- Air Product
- BOC-MA Steel Gases
- Nanjing Special Gas Factory Co. Ltd.