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The global xenon gas market size is expected to grow at a CAGR of 3% in the forecast period of 2024-2032. The market is being driven by increasing demand for efficient lighting solutions and the rising demand for xenon gas in the healthcare sector for imaging applications.
Xenon gas, denoted as Xe, is one of the six noble gases found in trace amounts in the Earth’s atmosphere. It is an odourless and colourless gas that does not show any chemical reaction. It is tasteless and non-toxic in nature. Xenon gas has a diverse set of applications such as lamp production, filling of television and radio tubes, and general anaesthetic, among others.
The expanding applications of xenon gas in various end-use sectors are driving the xenon gas market growth. The increasing demand for window insulations, headlamps, lighting, and others is significantly boosting the market growth. Besides its favourable properties, the harmless and non-toxic nature of xenon gas is responsible for its increasing demand. Further, with technological advancements, the demand for xenon gas is also increasing in applications like electronic chip manufacturing, thus, aiding the market growth.
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Expanding xenon production; technological innovations in extraction and purification; increased inter-company collaborations; and the development of innovative solutions to secure xenon supply are positively impacting the market growth
Date | Event |
Sep 6th 2023 | NASA's Psyche mission, utilising xenon gas for propulsion, was launched to a metal-rich asteroid, with spacecraft ready at Kennedy Space Center. |
Jun 2nd 2023 | Philips collaborated with Polarean, enhancing respiratory care with Xenon MRI technology, to be featured at ISMRM 2023 in Toronto, showcasing the 3T MR 7700 system. |
Jan 20th 2023 | Linde opened one of the world's largest krypton and xenon production facilities in Leuna, Germany, to boost the European noble gas supply for electronics manufacturing. |
Oct 27th 2022 | Posco and Samsung Electronics partnered to localise xenon gas production for semiconductor wafer fabrication, aiming to reduce import reliance, signing a cooperation memorandum. |
Topic | Description |
Expansion of xenon gas production facilities | Manufacturers are expanding xenon production facilities to meet rising demand from the electronics, space, and medical sectors, enhancing output capabilities. |
Rapid adoption of technological innovations | Xenon producers are adopting technological innovations to streamline extraction and purification from air, increasing efficiency and lowering operational costs in ASUs. |
Increasing collaborations among companies | To ensure steady xenon demand and supply stability, manufacturers are forming strategic alliances with major xenon users like the semiconductor, automotive, and aerospace industries. |
Exploration of innovative solutions to strengthen supply | Facing xenon scarcity, manufacturers are exploring diverse supply methods, including xenon recycling and reclamation, to bolster supply and support sustainability efforts. |
Xenon gas is used in high-intensity discharge (HID) lamps, which are utilised in various applications such as automotive headlights, stadium lighting, and projectors. The efficiency and quality of light provided by xenon-based lighting solutions continue to drive its adoption over alternatives.
Over the forecast period, the growing adoption of this gas in the healthcare domain as anaesthesia and to image the heart, brain, and other parts is expected to significantly contribute to the xenon gas market growth. However, the high cost associated with its production owing to the limited availability of xenon gas may hamper the growth of the market in the forecast period.
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“Global Xenon Gas Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Mode of Supply | Packaged, Merchant, On-site |
End-Use | Aviation and Aerospace, Healthcare, Imaging and Lighting, Automotive and Transportation, Electrical and Electronics, Construction, Others |
Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Packaged gas supply is expected to be the most preferred mode in the xenon gas market
Packaged gas is supplied in cylinders or canisters, making it suitable for customers requiring gas in smaller volumes or for specialised applications. It allows for easy transportation and use in a wide range of settings without the need for onsite production or large storage facilities.
Meanwhile, merchant supply involves the delivery of gases in liquid form, typically using tanker trucks, to be stored at the customer's site in liquid tanks. This mode is suitable for medium to large-volume users. On-site production involves generating the gas directly at the customer's location, which is common for gases needed in large quantities, such as oxygen, nitrogen, and hydrogen.
The use of xenon gas in the imaging and lighting sector is significant growing
The imaging and lighting sector occupies the largest portion of the xenon gas market share. Upon the transfer of electric current, xenon gas emits blue light, which makes it useful in the field of lighting. The different kinds of lamps that utilise xenon gas include photographic flash lamps, high-intensive arc-lamps, and bactericidal lamps, among others. The demand for xenon-based lamps is increasing as they offer better illumination in comparison to conventional lighting methods.
Meanwhile, the healthcare sector is expected to witness a robust growth in the forecast period owing to the increasing utilisation of xenon gas in regenerative and rehabilitation therapy. The expanding pharmaceutical applications of xenon gas, such as its use in the treatment of brain diseases, lung problems, and others, are further propelling the xenon gas market expansion.
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Some of the major players are increasingly investing in technological advancements to improve their manufacturing efficiency:
Company | Established | Headquarters | Specialisation |
Linde plc | 2018 | Dublin, Ireland | Industrial gases and engineering |
Air Products and Chemicals, Inc. | 1940 | Pennsylvania, United States | Chemical company, industrial gases |
Air Liquide S.A. | 1902 | Paris, France | Gases, technologies, and services for industrial and health sectors |
Cryoin Engineering Ltd. | 1992 | Odessa, Ukraine | Separation of air and manufacture of noble gases |
Other key players in the global xenon gas market are Ingas LLC, Messer Cutting Systems GmbH, Axcel Gases, Chengdu Taiyu Industrial Gases Co., Ltd, American Gas Products, and Proton Gases (India) Pvt Ltd., among others.
To improve efficiency and reduce costs, xenon gas manufacturers are focusing on technological advancements in extraction and purification processes. This includes optimising the separation process from air in air separation units (ASUs) where xenon is obtained as a byproduct of oxygen and nitrogen production.
The Asia Pacific is expected to dominate the global market in the coming years. There has been a rise in demand for xenon gas in semiconductor applications, which, in turn, is driving its demand in the consumer electronics sector. Thus, the rapid urbanisation and the growth of the consumer electronics sector in the Asia Pacific are the major factors driving the market growth.
Meanwhile, the Europe xenon gas market is being driven by the increasing demand for non-toxic gases due to stringent environmental regulations.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Mode of Supply |
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Breakup by End-use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Xenon Gas Market Analysis
8.1 Key Industry Highlights
8.2 Global Xenon Gas Historical Market (2018-2023)
8.3 Global Xenon Gas Market Forecast (2024-2032)
8.4 Global Xenon Gas Market by Mode of Supply
8.4.1 Packaged
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Merchant
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 On-site
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Xenon Gas Market by End-use
8.5.1 Aviation and Aerospace
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Healthcare
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Imaging and Lighting
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Automotive and Transportation
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Electrical and Electronics
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Construction
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Xenon Gas Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Xenon Gas Market Analysis
9.1 Market by Mode of Supply
9.2 Market by End-use
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Historical Trend (2018-2023)
9.3.1.2 Forecast Trend (2024-2032)
9.3.2 Canada
9.3.2.1 Historical Trend (2018-2023)
9.3.2.2 Forecast Trend (2024-2032)
10 Europe Xenon Gas Market Analysis
10.1 Market by Mode of Supply
10.2 Market by End-use
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Historical Trend (2018-2023)
10.3.1.2 Forecast Trend (2024-2032)
10.3.2 Germany
10.3.2.1 Historical Trend (2018-2023)
10.3.2.2 Forecast Trend (2024-2032)
10.3.3 France
10.3.3.1 Historical Trend (2018-2023)
10.3.3.2 Forecast Trend (2024-2032)
10.3.4 Italy
10.3.4.1 Historical Trend (2018-2023)
10.3.4.2 Forecast Trend (2024-2032)
10.3.5 Others
11 Asia Pacific Xenon Gas Market Analysis
11.1 Market by Mode of Supply
11.2 Market by End-use
11.3 Market by Country
11.3.1 China
11.3.1.1 Historical Trend (2018-2023)
11.3.1.2 Forecast Trend (2024-2032)
11.3.2 Japan
11.3.2.1 Historical Trend (2018-2023)
11.3.2.2 Forecast Trend (2024-2032)
11.3.3 India
11.3.3.1 Historical Trend (2018-2023)
11.3.3.2 Forecast Trend (2024-2032)
11.3.4 ASEAN
11.3.4.1 Historical Trend (2018-2023)
11.3.4.2 Forecast Trend (2024-2032)
11.3.5 South Korea
11.3.5.1 Historical Trend (2018-2023)
11.3.5.2 Forecast Trend (2024-2032)
11.3.6 Australia
11.3.6.1 Historical Trend (2018-2023)
11.3.6.2 Forecast Trend (2024-2032)
11.3.7 Others
12 Latin America Xenon Gas Market Analysis
12.1 Market by Mode of Supply
12.2 Market by End-use
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Historical Trend (2018-2023)
12.3.1.2 Forecast Trend (2024-2032)
12.3.2 Argentina
12.3.2.1 Historical Trend (2018-2023)
12.3.2.2 Forecast Trend (2024-2032)
12.3.3 Mexico
12.3.3.1 Historical Trend (2018-2023)
12.3.3.2 Forecast Trend (2024-2032)
12.3.4 Others
13 Middle East and Africa Xenon Gas Market Analysis
13.1 Market by Mode of Supply
13.2 Market by End-use
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Historical Trend (2018-2023)
13.3.1.2 Forecast Trend (2024-2032)
13.3.2 United Arab Emirates
13.3.2.1 Historical Trend (2018-2023)
13.3.2.2 Forecast Trend (2024-2032)
13.3.3 Nigeria
13.3.3.1 Historical Trend (2018-2023)
13.3.3.2 Forecast Trend (2024-2032)
13.3.4 South Africa
13.3.4.1 Historical Trend (2018-2023)
13.3.4.2 Forecast Trend (2024-2032)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Linde plc
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Air Products and Chemicals, Inc.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Air Liquide S.A.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Cryoin Engineering Ltd.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Ingas LLC
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Messer Cutting Systems GmbH
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Axcel Gases
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Chengdu Taiyu Industrial Gases Co., Ltd
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 American Gas Products
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Proton Gases (India) Pvt. Ltd.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Xenon Gas Market: Key Industry Highlights, 2018 and 2032
2. Global Xenon Gas Historical Market: Breakup by Mode of Supply (Million Litres), 2018-2023
3. Global Xenon Gas Market Forecast: Breakup by Mode of Supply (Million Litres), 2024-2032
4. Global Xenon Gas Historical Market: Breakup by End-use (Million Litres), 2018-2023
5. Global Xenon Gas Market Forecast: Breakup by End-use (Million Litres), 2024-2032
6. Global Xenon Gas Historical Market: Breakup by Region (Million Litres), 2018-2023
7. Global Xenon Gas Market Forecast: Breakup by Region (Million Litres), 2024-2032
8. North America Xenon Gas Historical Market: Breakup by Country (Million Litres), 2018-2023
9. North America Xenon Gas Market Forecast: Breakup by Country (Million Litres), 2024-2032
10. Europe Xenon Gas Historical Market: Breakup by Country (Million Litres), 2018-2023
11. Europe Xenon Gas Market Forecast: Breakup by Country (Million Litres), 2024-2032
12. Asia Pacific Xenon Gas Historical Market: Breakup by Country (Million Litres), 2018-2023
13. Asia Pacific Xenon Gas Market Forecast: Breakup by Country (Million Litres), 2024-2032
14. Latin America Xenon Gas Historical Market: Breakup by Country (Million Litres), 2018-2023
15. Latin America Xenon Gas Market Forecast: Breakup by Country (Million Litres), 2024-2032
16. Middle East and Africa Xenon Gas Historical Market: Breakup by Country (Million Litres), 2018-2023
17. Middle East and Africa Xenon Gas Market Forecast: Breakup by Country (Million Litres), 2024-2032
18. Global Xenon Gas Market Structure
The market is projected to grow at a CAGR of 3% between 2024 and 2032.
The major drivers of the market include increasing demand for efficient lighting solutions, rapid urbanisation, thriving consumer electronics sector, and growing technological advancements.
The growing applications of xenon gas in the healthcare sector and the stringent environmental regulations are the key trends observed in the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various modes of supply of xenon gas in the market are packaged, merchant, and on-site.
The major end-uses of xenon gas are aviation and aerospace, healthcare, imaging and lighting, automotive and transportation, electrical and electronics, and construction, among others.
The major players in the market are Linde plc, Air Products and Chemicals, Inc., Air Liquide S.A., Cryoin Engineering Ltd., Ingas LLC, Messer Cutting Systems GmbH, Axcel Gases, Chengdu Taiyu Industrial Gases Co., Ltd, American Gas Products, and Proton Gases (India) Pvt Ltd., among others.
The global xenon gas market is being driven by the rising consumer electronics industry. Aided by the technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By mode of supply, the market is segmented into packaged, merchant, and on-site. On the basis of end-use, the market is divided into aviation and aerospace, healthcare, imaging and lighting, automotive and transportation, electrical and electronics, and construction, among others. The major regional markets for xenon gas are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Linde plc, Air Products and Chemicals, Inc., Air Liquide S.A., Cryoin Engineering Ltd., Ingas LLC, Messer Cutting Systems GmbH, Axcel Gases, Chengdu Taiyu Industrial Gases Co., Ltd, American Gas Products, and Proton Gases (India) Pvt Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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