The new report by Expert Market Research titled, ‘Global Krypton Gas Market Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Krypton Gas Market, assessing the market based on its segments like Illumination, Insulation, Lighting, Glass Windows, Laser, R & D and North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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 analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6%
The market growth for krypton gas is driven by an increasing demand for oxygen due to the rapid rise in the number of patients needing ventilators following the outbreak of COVID-19. In addition, hospitals and governments around the world are expecting a rise in COVID cases; thus, these organizations are constructing inventories to avoid shortages in the forecast era, which are expected to fuel the growth of krypton gas in the market. In addition, growing R&D activities to develop new technologies for the global production of krypton gas are expected to generate new opportunities over the forecast period for the krypton gas industry.
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Krypton Gas Industry Definition and Major Segments
Krypton gas is a rare gas present in the air at extraordinarily low concentrations. It is produced through the Linde air separation process. Due to its physical properties, Krypton gas accumulates at the base of the rectification column with xenon which is present in liquid oxygen. It has high insulating characteristics and a high heat dissipation rate when used in energy-efficient windows.
On basis of functions, the market is categorized into:
- Illumination
- Insulation
Based on applications, the industry can be classified into:
- Lightin
- Glass Windows
- Laser
- R & D
- Others
On the basis of regional markets, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Krypton Gas Market Trends
In regards the region, Europe contributes significantly, in terms of output, to the worldwide krypton gas industry. This could be due to rising government policies and increasing growth in the region’s construction industry, which are driving sustainable building growth over the forecast period. North America and the Asia Pacific are followed by Europe. Asia Pacific is driven by growing demand from the semiconductor industry, which is in turn being driven by rapid technological advances and rising demand for chips in the region’s artificial intelligence industry. In addition, krypton gas is commonly used in excimer laser processing, consequently, the demand for Krypton gas will be increased in the forecast period.
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 and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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