Global Krypton Gas Market Report and Forecast 2024-2032

Global Krypton Gas Market Outlook

The global krypton gas market is expected to grow at a CAGR of 6% in the forecast period of 2024-2032.

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Growing Government Initiatives to Aid the Market Growth of Krypton Gas

Region-wise, Europe is significantly contributing, in terms of production, to the krypton gas industry globally. This could be attributed to the growing government initiatives and rising growth of the building and construction sector in the region, which are propelling the growth of sustainable buildings over the forecast period. Europe is followed by North America and the Asia Pacific. The Asia Pacific region is being driven by the increasing demand from the semiconductor sector, which is led by rapid technological innovations and rising demand for chips in the artificial intelligence industry in the region. Further, the krypton gas is widely used in the production of excimer laser, consequently fueling the demand for krypton gas in the forecast period.

Krypton Gas: Market Segmentation

Krypton gas is a rare gas found in extremely low concentrations in air. It is produced via Linde process of air separation. Krypton gas, owing to its physical properties, 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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On the basis of function, the market is bifurcated into:

• Illumination
• Insulation

Based on application, the industry can be segmented into:

• Lighting
• Glass Windows
• Laser
• R & D
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising R&D Activities to Aid the Market Growth of Krypton Gas

The market growth for krypton gas is being driven by the growing demand for oxygen due to the rising number of patients requiring ventilators has rapidly increased in the wake of the COVID-19 outbreak. In addition, hospitals and governments across the globe are anticipating an increase in the COVID cases; therefore such institutions are building up inventories to prevent shortages in the forecast period, which is expected to propel the market growth of krypton gas. Further, the rising R&D activities to develop new technologies for the production of krypton gas globally is predicted to generate new opportunities for the krypton gas industry over the forecast period.

However, the market for krypton gas is anticipated to witness obstruction due to the rise in the adoption of LED lamps in the lighting industry which will negatively affect the market growth of incandescent lamps with krypton gas over the coming years.

Key Industry Players in the Global Krypton gas Market

The report gives a detailed analysis of the following key players in the global krypton gas market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Air Liquide UK Ltd
• Linde plc
• Air Products Inc.
• Praxair Technology, Inc.
• Messer Group GmbH
• Proton Gases (India) Private Limited
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report