Press Release
Press Release
The Asia Pacific market for krypton gas is rapidly growing due to the rising demand from the semiconductor sector in the region, which is thriving due to various factors, such as rapid technological innovations and growing demand for chips from the AI industry in the region. Further, due to the higher availability of krypton gas as compared to xenon, the former is increasingly used in research & development activities due to its potential substitute for xenon ion thrusters, which is usually employed in satellite for spacecraft propulsion. In addition, krypton gas is widely used in the manufacturing process of tungsten owing to its greater molecule size of krypton gas, which defers the evaporation of the tungsten filament and enhances the bulb life. Therefore, the rising demand for bulbs is propelling the market growth for krypton gas.
The market growth of krypton gas is further facilitated by the healthy competition among the industry key players, such as Air Liquide UK Ltd and Linde plc (NYSE: LIN). At the time of the COVID-19 outbreak, such companies are committed to fulfil the rising demand for oxygen and other gases from hospitals. The ongoing pandemic is expected to aid the market growth for krypton gas over the coming years.
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The krypton gas industry, on the basis of function, is divided into illumination and insulation.
Air Liquide UK Ltd, Linde plc, Air Products Inc., Praxair Technology, Inc., Messer Group GmbH, Proton Gases (India) Private Limited, among others are the key players in the global krypton gas market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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