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The global xenon gas industry is being aided by the increasing demand for rare gases in various end use sectors like lighting and imaging, healthcare, electrical and electronics, and others. Based on mode of supply, the on-site segment accounts for a significant share in the industry while the packaged segment is expected to witness a robust growth in the forecast period owing to the convenience factor. Region-wise, the Asia Pacific is expected to significantly contribute to the growth of the industry. Within the Asia Pacific, China is expected to remain the largest producer of xenon gas. Other countries like Australia, India, and South Korea are expected to be the significant markets for the product. Meanwhile, Latin America is expected to provide significant growth opportunities for the market expansion in the forecast period.
The growing investments by the leading industrial gases companies to enhance their market share and expand their global reach is also contributing to the growth of the industry. In May 2018, Linde plc (NYSE: LIN), one of the key players in the industry, announced that the company is increasing its production capacity for rare gases, including xenon, which is witnessing increased demand in the semiconductor industry for etching 3D semiconductor structures. Such investments by the major players to enhance the production capacity for xenon gas is expected to significantly contribute to the growth of the industry in the forecast period.
Market Breakup by Mode of Supply, End Use, and Region:
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The major players in the global xenon gas market are Airgas, Inc., Air Liquide, Linde plc, and Praxair Technology, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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