This market research report presents a detailed segmentation of the global xenon market by end user (imaging and lightning, aerospace and aircraft, automotive and transportation, and health care) and by geography (APAC, EMEA, Latin America and North America). Key findings also include an analysis of the leading vendors such as Airgas, Air Liquide, Linde, Messer, Praxair, and Iceblick.
Technavio market research analysts estimate the global xenon gas market to grow at a CAGR of around 6% between 2015 and 2019, owing to robust growth in end-user demand.
APAC accounts for the largest share of the xenon gas market due to the presence of several manufacturing industries associated with automobiles, construction, mining, and transportation. Moreover, the region is the semiconductor powerhouse with countries like South Korea, Taiwan, Japan and China remaining as the principal suppliers of electronics and semiconductors. The research report predicts the region to reach a volume of 7287 kiloliters by the end of 2019.
Xenon gas market in APAC 2014-2019 (kiloliters)
Source: Technavio Research
“Increased usage of xenon gas in imaging and lighting applications is expected to make this end-users segment as the fastest growing one in the market. Xenon gas is used in the manufacturing of lasers, which are used in barcode scanners, alignment tools and photography transmission. These lasers have cheaper production expenditure, better consistency and increased safety on account of low power output. The growing demand for flat panel displays mainly plasma TV’s have been seen as one of the major contributors to the growth of this segment,” says Sriram Mohan, Lead Analyst, Chemicals & Materials, Technavio Research.
Top vendors in the global xenon gas market are Airgas, Air Liquide, Linde, Messer, Praxair, and Iceblick. The market is dominated by chemical companies from Europe and the US, which have an integrated distribution network and rely on their proprietary manufacturing technologies. The availability of cheap natural gas resources is propelling major vendors to install manufacturing and distribution facilities in the Middle East and emerging markets in Asia.
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