PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284220
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284220
Xenon Market Forecasts to 2028 - Global Analysis By Type (N5, N4.5, N3 and Other Types), Supply Mode, End User and By Geography
According to Stratistics MRC, the Global Xenon Market is accounted for $286.4 million in 2022 and is expected to reach $364.4 million by 2028 growing at a CAGR of 4.1% during the forecast period. When exposed to electrical discharge, the fully inert gas known as xenon generates blue light. Due to its exceptional qualities, it is preferred even though it has relatively little commercial usage. Because of its versatility and high level of purity, this noble gas is widely used in a variety of fields, including satellites, imaging, lighting, electronics, and medicine. The demand for xenon gas is anticipated to rise during the forecast period as a result of the positive expansion of these applications in both established and emerging economies.
According to the Centers for Medicare & Medicaid Services, national health expenditures (NHE) in the United States grew 2.7% to USD 4.3 trillion in 2021, accounting for 18.3% of the Gross Domestic Product (GDP).
Market Dynamics:
Driver:
Increasing demand for Xenon
X-rays, computed tomography scans, and magnetic resonance imaging (MRI) all employ xenon in the medical field. Additionally, it is utilised in the treatment of cancer and in medical lasers. Some autos' headlights make use of it. Some vehicles' airbags also utilise it. It is utilised in several lasers and light bulbs. In flash photography, it is employed. So, these are the elements influencing the market's expansion.
Restraint:
Dangerous health effects of the gas
The gas is categorised as an asphyxiant, which indicates that breathing in an excessive amount of this gas can cause nausea, dizziness, vomiting, and occasionally even death. At low oxygen levels, sudden death can happen in a matter of seconds. Moreover, there are just a few uses for xenon gas. This may result in less demand for xenon gas, which could impede the market's expansion.
Opportunity:
Robust adoption of satellites
For use in the electric ion propulsion system, the inert gas Xe works great as a propellant. As a result of its benefits, it is rapidly gaining popularity in the satellite industry. Interplanetary operations require electric propulsion to be successful, and space travel also relies on electric propulsion. The market is projected to be driven by the growing use of gas in industrialised nations for satellites.
Threat:
Fluctuations in the price of raw materials
Raw ingredients like argon and krypton, which are required to make xenon gas, are very erratic in price. The cost of xenon petrol may change as a result of this. The process of creating xenon gas requires a lot of energy. High production costs may result from this. Additionally, xenon gas generation releases a variety of greenhouse pollutants. This might result in stringent environmental laws that would impede commercial expansion.
COVID-19 Impact:
Worldwide industrial operations were hampered by the pandemic. The need for rare gases was thereby acutely felt. As COVID-19 cases were increasing exponentially, the majority of the rare gas-generating air separation systems were primarily occupied in manufacturing medicinal oxygen. The emergence of a pandemic condition is upsetting several specialist product categories, including xenon gas, in the worldwide chemical sector. As key consumers of xenon gas, the construction, aerospace, industrial manufacturing, and automotive industries have curtailed production, which has resulted in a significant supply-demand gap.
The N5 segment is expected to be the largest during the forecast period
The N5 segment is estimated to have a lucrative growth, due to its advantages. N5 xenon has high purity is known as research-grade xenon. It is very expensive and widely used in a variety of industries, including semiconductors, lighting, electronics, and pharmaceuticals. Despite its high cost, the demand for petrol is predicted to increase dramatically over the course of the forecast period due to its numerous applications.
The satellite segment is expected to have the highest CAGR during the forecast period
The satellite segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growing number of electric propulsion spacecraft and satellites. Several satellites are set to launch in the near future, and many more are anticipated to be announced. Since xenon-based lights give superior illumination than traditional lighting techniques, there is an increasing desire for them, which is projected to boost product demand in this market.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the development of healthcare sectors and the construction of oxygen power plants. High gas consumption is attributed to the electronics and semiconductor sectors for use in etching and other applications. Due to rising semiconductor output, the expansion of the electronics industry is anticipated to favourably support the growth of the xenon market.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to increase in semiconductor applications. Due to strict environmental restrictions, there is an increasing need for non-toxic gases, which is fostering regional market expansion. It is utilised in magnetic resonance imaging systems and general anaesthesia. The market in the region is primarily driven by the expanding demand for Xenon in the healthcare industry.
Key players in the market:
Some of the key players profiled in the Xenon Market include Airgas, Inc., The Linde Group, Praxair Technology, Inc., Matheson Tri-Gas, Inc., AIR LIQUIDE S.A., Ingas AE, Air Products and Chemicals, Proton Gases (India) Pvt. Ltd., Messer Group GmbH, American Gas Products, Iceblick LLC, Coregas Pty Ltd, Electronic Flurocarbons, LLC, Cryoin Engineering Ltd., American Gas Products and Air Water Inc.
Key Developments:
In September 2021, Linde announced plans to enhance its air separation unit capacity in Florida to satisfy consumer demand for industrial gases.
In July 2018, Air Liquide, one of the largest producers of rare gases and other industrial gases in the world, signed several new multi-year contracts for xenon & krypton supply to the satellite and semiconductor industries in the U.S., Europe, and Asia Pacific. The contracts are reported to be worth over USD 59 million.
Types Covered:
- N5
- N4.5
- N3
- Other Types
Supply Modes Covered:
- Drum tank
- On-site
- Bulk and micro Bulk
- Cylinders
- Other Supply Modes
End Users Covered:
- Imaging and Lighting
- Automotive and Transportation Equipment
- Electronics and Semiconductors
- Satellite
- Aerospace and Aircraft
- Healthcare
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options::
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 End User Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Xenon Market, By Type
- 5.1 Introduction
- 5.2 N5
- 5.3 N4.5
- 5.4 N3
- 5.5 Other Types
6 Global Xenon Market, By Supply Mode
- 6.1 Introduction
- 6.2 Drum tank
- 6.3 On-site
- 6.4 Bulk and micro Bulk
- 6.5 Cylinders
- 6.6 Other Supply Modes
7 Global Xenon Market, By End User
- 7.1 Introduction
- 7.2 Imaging and Lighting
- 7.3 Automotive and Transportation Equipment
- 7.4 Electronics and Semiconductors
- 7.5 Satellite
- 7.6 Aerospace and Aircraft
- 7.7 Healthcare
- 7.8 Other End Users
8 Global Xenon Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Airgas, Inc.
- 10.2 The Linde Group
- 10.3 Praxair Technology, Inc.
- 10.4 Matheson Tri-Gas, Inc.
- 10.5 AIR LIQUIDE S.A.
- 10.6 Ingas AE
- 10.7 Air Products and Chemicals
- 10.8 Proton Gases (India) Pvt. Ltd.
- 10.9 Messer Group GmbH
- 10.10 American Gas Products
- 10.11 Iceblick LLC
- 10.12 Coregas Pty Ltd
- 10.13 Electronic Flurocarbons, LLC
- 10.14 Cryoin Engineering Ltd.
- 10.15 American Gas Products
- 10.16 Air Water Inc.
List of Tables
- Table 1 Global Xenon Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Xenon Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Xenon Market Outlook, By N5 (2020-2028) ($MN)
- Table 4 Global Xenon Market Outlook, By N4.5 (2020-2028) ($MN)
- Table 5 Global Xenon Market Outlook, By N3 (2020-2028) ($MN)
- Table 6 Global Xenon Market Outlook, By Other Types (2020-2028) ($MN)
- Table 7 Global Xenon Market Outlook, By Supply Mode (2020-2028) ($MN)
- Table 8 Global Xenon Market Outlook, By Drum tank (2020-2028) ($MN)
- Table 9 Global Xenon Market Outlook, By On-site (2020-2028) ($MN)
- Table 10 Global Xenon Market Outlook, By Bulk and micro Bulk (2020-2028) ($MN)
- Table 11 Global Xenon Market Outlook, By Cylinders (2020-2028) ($MN)
- Table 12 Global Xenon Market Outlook, By Other Supply Modes (2020-2028) ($MN)
- Table 13 Global Xenon Market Outlook, By End User (2020-2028) ($MN)
- Table 14 Global Xenon Market Outlook, By Imaging and Lighting (2020-2028) ($MN)
- Table 15 Global Xenon Market Outlook, By Automotive and Transportation Equipment (2020-2028) ($MN)
- Table 16 Global Xenon Market Outlook, By Electronics and Semiconductors (2020-2028) ($MN)
- Table 17 Global Xenon Market Outlook, By Satellite (2020-2028) ($MN)
- Table 18 Global Xenon Market Outlook, By Aerospace and Aircraft (2020-2028) ($MN)
- Table 19 Global Xenon Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 20 Global Xenon Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 21 North America Xenon Market Outlook, By Country (2020-2028) ($MN)
- Table 22 North America Xenon Market Outlook, By Type (2020-2028) ($MN)
- Table 23 North America Xenon Market Outlook, By N5 (2020-2028) ($MN)
- Table 24 North America Xenon Market Outlook, By N4.5 (2020-2028) ($MN)
- Table 25 North America Xenon Market Outlook, By N3 (2020-2028) ($MN)
- Table 26 North America Xenon Market Outlook, By Other Types (2020-2028) ($MN)
- Table 27 North America Xenon Market Outlook, By Supply Mode (2020-2028) ($MN)
- Table 28 North America Xenon Market Outlook, By Drum tank (2020-2028) ($MN)
- Table 29 North America Xenon Market Outlook, By On-site (2020-2028) ($MN)
- Table 30 North America Xenon Market Outlook, By Bulk and micro Bulk (2020-2028) ($MN)
- Table 31 North America Xenon Market Outlook, By Cylinders (2020-2028) ($MN)
- Table 32 North America Xenon Market Outlook, By Other Supply Modes (2020-2028) ($MN)
- Table 33 North America Xenon Market Outlook, By End User (2020-2028) ($MN)
- Table 34 North America Xenon Market Outlook, By Imaging and Lighting (2020-2028) ($MN)
- Table 35 North America Xenon Market Outlook, By Automotive and Transportation Equipment (2020-2028) ($MN)
- Table 36 North America Xenon Market Outlook, By Electronics and Semiconductors (2020-2028) ($MN)
- Table 37 North America Xenon Market Outlook, By Satellite (2020-2028) ($MN)
- Table 38 North America Xenon Market Outlook, By Aerospace and Aircraft (2020-2028) ($MN)
- Table 39 North America Xenon Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 40 North America Xenon Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 41 Europe Xenon Market Outlook, By Country (2020-2028) ($MN)
- Table 42 Europe Xenon Market Outlook, By Type (2020-2028) ($MN)
- Table 43 Europe Xenon Market Outlook, By N5 (2020-2028) ($MN)
- Table 44 Europe Xenon Market Outlook, By N4.5 (2020-2028) ($MN)
- Table 45 Europe Xenon Market Outlook, By N3 (2020-2028) ($MN)
- Table 46 Europe Xenon Market Outlook, By Other Types (2020-2028) ($MN)
- Table 47 Europe Xenon Market Outlook, By Supply Mode (2020-2028) ($MN)
- Table 48 Europe Xenon Market Outlook, By Drum tank (2020-2028) ($MN)
- Table 49 Europe Xenon Market Outlook, By On-site (2020-2028) ($MN)
- Table 50 Europe Xenon Market Outlook, By Bulk and micro Bulk (2020-2028) ($MN)
- Table 51 Europe Xenon Market Outlook, By Cylinders (2020-2028) ($MN)
- Table 52 Europe Xenon Market Outlook, By Other Supply Modes (2020-2028) ($MN)
- Table 53 Europe Xenon Market Outlook, By End User (2020-2028) ($MN)
- Table 54 Europe Xenon Market Outlook, By Imaging and Lighting (2020-2028) ($MN)
- Table 55 Europe Xenon Market Outlook, By Automotive and Transportation Equipment (2020-2028) ($MN)
- Table 56 Europe Xenon Market Outlook, By Electronics and Semiconductors (2020-2028) ($MN)
- Table 57 Europe Xenon Market Outlook, By Satellite (2020-2028) ($MN)
- Table 58 Europe Xenon Market Outlook, By Aerospace and Aircraft (2020-2028) ($MN)
- Table 59 Europe Xenon Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 60 Europe Xenon Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 61 Asia Pacific Xenon Market Outlook, By Country (2020-2028) ($MN)
- Table 62 Asia Pacific Xenon Market Outlook, By Type (2020-2028) ($MN)
- Table 63 Asia Pacific Xenon Market Outlook, By N5 (2020-2028) ($MN)
- Table 64 Asia Pacific Xenon Market Outlook, By N4.5 (2020-2028) ($MN)
- Table 65 Asia Pacific Xenon Market Outlook, By N3 (2020-2028) ($MN)
- Table 66 Asia Pacific Xenon Market Outlook, By Other Types (2020-2028) ($MN)
- Table 67 Asia Pacific Xenon Market Outlook, By Supply Mode (2020-2028) ($MN)
- Table 68 Asia Pacific Xenon Market Outlook, By Drum tank (2020-2028) ($MN)
- Table 69 Asia Pacific Xenon Market Outlook, By On-site (2020-2028) ($MN)
- Table 70 Asia Pacific Xenon Market Outlook, By Bulk and micro Bulk (2020-2028) ($MN)
- Table 71 Asia Pacific Xenon Market Outlook, By Cylinders (2020-2028) ($MN)
- Table 72 Asia Pacific Xenon Market Outlook, By Other Supply Modes (2020-2028) ($MN)
- Table 73 Asia Pacific Xenon Market Outlook, By End User (2020-2028) ($MN)
- Table 74 Asia Pacific Xenon Market Outlook, By Imaging and Lighting (2020-2028) ($MN)
- Table 75 Asia Pacific Xenon Market Outlook, By Automotive and Transportation Equipment (2020-2028) ($MN)
- Table 76 Asia Pacific Xenon Market Outlook, By Electronics and Semiconductors (2020-2028) ($MN)
- Table 77 Asia Pacific Xenon Market Outlook, By Satellite (2020-2028) ($MN)
- Table 78 Asia Pacific Xenon Market Outlook, By Aerospace and Aircraft (2020-2028) ($MN)
- Table 79 Asia Pacific Xenon Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 80 Asia Pacific Xenon Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 81 South America Xenon Market Outlook, By Country (2020-2028) ($MN)
- Table 82 South America Xenon Market Outlook, By Type (2020-2028) ($MN)
- Table 83 South America Xenon Market Outlook, By N5 (2020-2028) ($MN)
- Table 84 South America Xenon Market Outlook, By N4.5 (2020-2028) ($MN)
- Table 85 South America Xenon Market Outlook, By N3 (2020-2028) ($MN)
- Table 86 South America Xenon Market Outlook, By Other Types (2020-2028) ($MN)
- Table 87 South America Xenon Market Outlook, By Supply Mode (2020-2028) ($MN)
- Table 88 South America Xenon Market Outlook, By Drum tank (2020-2028) ($MN)
- Table 89 South America Xenon Market Outlook, By On-site (2020-2028) ($MN)
- Table 90 South America Xenon Market Outlook, By Bulk and micro Bulk (2020-2028) ($MN)
- Table 91 South America Xenon Market Outlook, By Cylinders (2020-2028) ($MN)
- Table 92 South America Xenon Market Outlook, By Other Supply Modes (2020-2028) ($MN)
- Table 93 South America Xenon Market Outlook, By End User (2020-2028) ($MN)
- Table 94 South America Xenon Market Outlook, By Imaging and Lighting (2020-2028) ($MN)
- Table 95 South America Xenon Market Outlook, By Automotive and Transportation Equipment (2020-2028) ($MN)
- Table 96 South America Xenon Market Outlook, By Electronics and Semiconductors (2020-2028) ($MN)
- Table 97 South America Xenon Market Outlook, By Satellite (2020-2028) ($MN)
- Table 98 South America Xenon Market Outlook, By Aerospace and Aircraft (2020-2028) ($MN)
- Table 99 South America Xenon Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 100 South America Xenon Market Outlook, By Other End Users (2020-2028) ($MN)
- Table 101 Middle East & Africa Xenon Market Outlook, By Country (2020-2028) ($MN)
- Table 102 Middle East & Africa Xenon Market Outlook, By Type (2020-2028) ($MN)
- Table 103 Middle East & Africa Xenon Market Outlook, By N5 (2020-2028) ($MN)
- Table 104 Middle East & Africa Xenon Market Outlook, By N4.5 (2020-2028) ($MN)
- Table 105 Middle East & Africa Xenon Market Outlook, By N3 (2020-2028) ($MN)
- Table 106 Middle East & Africa Xenon Market Outlook, By Other Types (2020-2028) ($MN)
- Table 107 Middle East & Africa Xenon Market Outlook, By Supply Mode (2020-2028) ($MN)
- Table 108 Middle East & Africa Xenon Market Outlook, By Drum tank (2020-2028) ($MN)
- Table 109 Middle East & Africa Xenon Market Outlook, By On-site (2020-2028) ($MN)
- Table 110 Middle East & Africa Xenon Market Outlook, By Bulk and micro Bulk (2020-2028) ($MN)
- Table 111 Middle East & Africa Xenon Market Outlook, By Cylinders (2020-2028) ($MN)
- Table 112 Middle East & Africa Xenon Market Outlook, By Other Supply Modes (2020-2028) ($MN)
- Table 113 Middle East & Africa Xenon Market Outlook, By End User (2020-2028) ($MN)
- Table 114 Middle East & Africa Xenon Market Outlook, By Imaging and Lighting (2020-2028) ($MN)
- Table 115 Middle East & Africa Xenon Market Outlook, By Automotive and Transportation Equipment (2020-2028) ($MN)
- Table 116 Middle East & Africa Xenon Market Outlook, By Electronics and Semiconductors (2020-2028) ($MN)
- Table 117 Middle East & Africa Xenon Market Outlook, By Satellite (2020-2028) ($MN)
- Table 118 Middle East & Africa Xenon Market Outlook, By Aerospace and Aircraft (2020-2028) ($MN)
- Table 119 Middle East & Africa Xenon Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 120 Middle East & Africa Xenon Market Outlook, By Other End Users (2020-2028) ($MN)
