The new report by Expert Market Research titled, ‘Global Krypton Gas Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global krypton gas market, assessing the market based on its segments like functions, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
Forecast CAGR (2021-2026): 6% (Global Rare Gas Market)
The market growth of krypton gas is driven by the significant contribution of the Europe region, which could be attributed to the rising government initiatives and growing demand from the building and construction sector. The region is followed by North America and the Asia Pacific. The Asia Pacific region is expected to witness rapid growth over the forecast period as the result of rising demand from the semiconductor sector, led by robust technological innovations and increasing demand for chips in the artificial intelligence industry. In addition, the krypton gas is broadly used in the production of excimer laser, therefore, boosting the demand for krypton gas over the forecast period.
Industry Definition and Major Segments
Krypton gas is found in extremely low concentrations in air and it is produced via Linde process of air separation. As the result of its physical properties, krypton gas accumulates with xenon which is present in the liquid oxygen at the base of the rectification column. It exhibits high insulating properties and high rate of heat dissipation on its usage in energy-efficient windows.
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Based on functions, the market is bifurcated into:
- Illumination
- Insulation
By applications, the industry can be categorised into:
- Lighting
- Glass Windows
- Laser
- R & D
- Others
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On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
The market growth of krypton gas is led by the growing demand for oxygen owing to the rising number of patients requiring ventilators, which has significantly increased in the wake of COVID-19 outbreak. Further, as hospitals and governments across the world are predicting that COVID cases will be rising over the forecast period, they are building up inventories to prevent shortages in the coming years. This is expected to aid the market growth of krypton gas. In addition, the increasing R&D activities to innovate new technologies for the production of krypton gas globally are boosting the market growth of krypton gas.
Key Market Players
The major players in the market are Air Liquide UK Ltd, Linde plc, Air Products Inc., Praxair Technology, Inc., Messer Group GmbH, Proton Gases (India) Private Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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