Xenon Market: Current Analysis and Forecast (2021-2027)

Xenon is an odorless, colorless, tasteless, inflammable, monatomic, and nonreactive noble gas. Among the noble gases, xenon is the brightest, and emits blue light when electric current is passed through it; this property is utilized for lighting purpose. Xenon gas is a trace gas, which can be found in earth's atmosphere and can also be obtained or produced commercially as a by-product during the separation of oxygen and nitrogen in air-separation units. This gas is stored in metal containers or sealed glass under standard temperature and pressure. As the world economy expected to grow continously, the demand for xenon gas is burgeoning. Many applications for xenon gas are showing significant growth. Xenon gas is the byproduct of large scale oxygen production and thus, supply of xenon gas is driven by the demand in the oxygen markets. Demand for the window insulations, lightning and satellite markets are primarily responsible for the significant growth of global xenon gas market.

Based on Type, the market is classified into high purity xenon and common purity xenon. Currently, high purity xenon acquired substantial share in the market. It is mainly owing to its purest form which is mainly use in healthcare industry such as medical equipment and aerospace industry. However, common purity xenon also caters considerable share owing to its growing adoption of consumer goods, and other end-users industries.

Based on Application, the market is segmented into semiconductor industry, PDP backlighting, lighting, medical appliances and others. Currently, lighting segment considerable market presence and expected to have consistent market demand in the projected year. It is mainly owing to the increasing adoption of LED technology. Whereas semiconductors segment had seen fastest growth over a period of time owing to the rising need for xenon gas for propulsion technology.

For a better understanding of the market adoption of Xenon , the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), Middle East & Africa ( UAE, Saudi Arabia, South Africa, Nigeria, Egypt) and Rest of World. Asia Pacific constitutes the largest market for the industry and expected to have an influential growth rate in the projected years predominantly due to rising demand for satellite industry.

Some of the major players operating in the market include Wisco, Coregas, Messer Group, Beijing Shougang Oxygen Factory, Cryogenmash, Air Liquide, Praxair, Air Product, BOC-MA Steel Gases, Nanjing Special Gas Factory Co Ltd.