Persistence Market Research
Global Xenon Gas Market: Introduction
Xenon gas is a colorless, odorless, monoatomic rare gas. Xenon is a trace gas in atmosphere of the earth and can be obtained commercially by fractional distillation in specifically designed large air separation units (ASU) around the world. Xenon emits blue light when excited by electrical discharge in a gas filled tube. This property is utilized in lightning purposes. Moreover, xenon gas is used as a fill gas in ECO halogen, high intensity discharge and cinema projector lamps. Xenon-intensive application includes ion engines and ion plasma thrusters for satellites. It is forecasted as the next generation of propulsion technology and expected to bring cost benefits. Furthermore, small amounts of xenon gas is used for industrial lasers and lasers for eye surgeries. It is also employed in the lasers that cut metal components in automotive manufacturing processes. Xenon gas possess many properties, non-toxic nature is one of them. Consequently, xenon gas can be used as an anesthesia and to image the heart, lungs, and brain. Xenon gas market is foreseen to observe high demand growth rate in healthcare and aerospace industry.
Global Xenon Gas Market: Market Dynamics
As the world economy continues to prosper, 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. The environmental regulations in the countries of Europe require energy efficient windows, and xenon gas is one of the rare gas used in the manufacture of windows. Xenon gas is a key component in the manufacturing of high-intensity discharge automotive headlamps. The latest application for xenon gas is in electronic chip manufacturing and is presently the most significant reason for xenon gas demand growth. Aforementioned, applications are foreseen to boost the global xenon gas market during the forthcoming years.
The amount of xenon gas in the atmosphere is limited. Demand for this rare gas in increasing rapidly, but due to limited availability supply is always in shortage. Furthermore, high-cost associated with the production of xenon gas slows down the market growth.
Global Xenon Gas Market: Market Segmentation
Global xenon gas market can be segmented on the basis of end-use industry and supply mode.
On the basis of end-use industry, global xenon gas market can be segmented as follows:
On the basis of supply mode, global xenon gas market can be segmented as follows:
Global Xenon Gas Market: Regional Outlook
Xenon gas is experiencing a sharp rise in demand from semiconductors application. This makes Asia Pacific a major market for xenon gas, countries in the region such as Japan, South Korea, China, India, etc. which have established manufacturing hubs for consumer electronics are anticipated to be the major contributor to the growth of the market. Followed by Asia Pacific, North America and Europe region collectively are anticipated to hold dominant share of the global demand for xenon gas. However, the markets in both of the regions are anticipated to witness moderate to slow growth over the forecast period.
Global Xenon Gas Market: Key Participants
Example of some of the market participants in the global xenon gas market identified across the value chain include
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