The key players included in the market report are Airgas, Inc., Air Liquide, Linde plc, Praxair, Inc., and The Messer Group GmbH, among others. The global xenon gas market reached a volume of 18.4 million litres in 2020. The market is further expected to grow at a CAGR of 3% in the forecast period of 2022-2027.
Xenon gas is a colourless, odourless, monoatomic rare gas. Xenon is a trace gas in the earth’s atmosphere and can be obtained commercially by fractional distillation in specifically designed large air separation units (ASU) around the world. Xenon emits blue light when excited by electrical discharge in a gas-filled tube. This property is utilized for lighting purposes. Xenon gas is used as a fill gas in ECO halogen, high-intensity discharge, and cinema projector lamps. The xenon-intensive application includes ion engines and ion plasma thrusters for satellites. It is forecasted as the next generation of propulsion technology and expected to bring cost benefits.
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Furthermore, small amounts of xenon gas are used for industrial lasers and lasers for eye surgeries. It is also employed in the lasers that cut metal components in automotive manufacturing processes. Xenon gas possesses many properties, and its non-toxic nature is one of them. Consequently, xenon gas can be used as anaesthesia and image the heart, lungs, and brain. Xenon gas market is foreseen to observe a high demand growth rate in the healthcare and aerospace industry.
Xenon gas is experiencing a sharp rise in demand from semiconductors application. This makes the Asia Pacific a significant market for xenon gas. Countries in the region such as Japan, South Korea, and China, India, which have established manufacturing hubs for consumer electronics, are anticipated to be the major contributor to the market's growth. The Asia Pacific, North America, and Europe regions are collectively expected to hold the dominant share of the global demand for xenon gas. However, the markets in both areas are anticipated to witness moderate to slow growth over the forecast period.
Headquarters: Pennsylvania, United States
Airgas, an Air Liquide company, is an American supplier of industrial, medical and speciality gases, hard goods, and related products; one of the largest suppliers of safety products and a leading supplier of ammonia products and process chemicals in United States. It is headquartered in Radnor Township, Pennsylvania.
Headquarters: Paris, France
Air Liquide S.A. is a French multinational company which supplies industrial gases and services to various industries, including medical, chemical and electronic manufacturers. Founded in 1902, after Linde, it is the second-largest supplier of industrial gases. Air Liquide is present in 78 countries with approximately 64,500 employees and serves more than 3.8 million customers and patients.
Headquarters: Dublin, Ireland
Linde plc is a global multinational chemical company. It is the largest industrial gas company by market share and revenue. It serves customers in the healthcare, petroleum refining, manufacturing, food, beverage carbonation, fibre-optics, steel making, aerospace, chemicals, electronics, and water treatment industries. The company is a leading global industrial gases and engineering company with 2021 sales of USD 31 billion (€26 billion).
Headquarters: Danbury, Connecticut, United States
Praxair, Inc. was an American worldwide industrial gases company. Founded in 1907, Praxair was the largest industrial gases company in North and South America and the third largest worldwide by revenue. In 2018, it merged with Linde AG to form Linde plc. The Praxair name was discontinued on September 1, 2020.
Headquarters: Bad Soden, Germany
The Messer Group GmbH is a supplier of industrial gases. Messer sells gases for industrial use like oxygen, nitrogen, argon, carbon dioxide, hydrogen, helium, shielding gases and gases for medical use. Business is focused on 30 European and Asian countries. Messer generated sales of 3.1 billion* euros in 2020.
Also Read@ Global Xenon Gas Market to Grow at a CAGR of 3% During 2021-2026, Aided by the Growing Demand from the Major End Use Sectors
*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.