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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

According to a new report by EMR titled, ‘Global Xenon Gas Market Report and Forecast 2021-2026’, the global market for xenon gas reached a volume of 18.4 million litres in 2020. The industry is further expected to grow at a CAGR of 3% between 2021 and 2026.

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:

  • By mode of supply, the industry can be divided into packaged, merchant, and on-site, among others.
  • On the basis of end use, the industry can be bifurcated based into aviation and aerospace, healthcare, imaging and lighting, automotive and transportation, electrical and electronics, and construction, among others.
  • Region-wise, the global market for xenon gas can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for xenon gas is being driven by its growing demand in the major end use sectors, particularly imaging and lighting.
  • The stringent government regulations regarding the emission of harmful gases are further contributing to the market expansion.
  • The industry is receiving a further impetus with the growing applications of xenon gas in the semiconductor industry.
  • The growing investments by the leading players towards xenon gas capacity expansions are expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for xenon gas for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the mode of supply, end uses, and major regions of xenon gas.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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