The global xenon gas market reached a volume of 17.2 Million Liters in 2018. The market is further expected to reach a volume of 21.9 Million Liters by 2024, exhibiting a CAGR of 4.1% during 2019-2024. Xenon, denoted as Xe, is a noble or inert gas which is odourless, colourless and tasteless and does not have any chemical reaction. It first came into recognition in the late 1800s and was categorised among the six noble gases. Xenon is mainly used for the production of lamps, filling television and radio tubes, as general anaesthetic and for research purposes. Xenon gas is also utilised for making devices which are meant to detect radiation. This gas has many pharmaceutical purposes which include the treatment of brain diseases, lung problems, problem of stress, depression etc. Xenon gas is considered to be a successful means for regenerative and rehabilitation therapy and is beneficial for increasing the working capacity of patients.
Global Xenon Gas Market Drivers
- Xenon gas provides a better option in the field of lighting and insulation which proves to be a major factor catalysing its demand. There is a wide variety of lamps that use xenon gas on a regular basis such as photographic flash lamps, high-intensive arc-lamps, bactericidal lamps, etc. These lamps offer better illumination as compared to conventional methods of lighting. Apart from this, xenon gas is also useful for giving a soft blue glow in the headlights of vehicles.
- Xenon has been gaining popularity among numerous end-use industries owing to its multidimensional utility. It is used for plating the silicon microprocessors as well as for the production of a specific drug which is useful for treating cancer. Additionally, xenon gas is beneficial in the production of helium-neon lasers which are used in barcode scanners. These characteristics and benefits of xenon gas have been contributing to its propelling demand across the globe.
- With continuous technological developments, the demand of barcode-scanners and laser operated sensors has been increasing which are manufactured by using xenon gas.
- Xenon is a non-reactive gas and is considered to be absolutely safe and harmless when used in remedial drug or in the form of an anaesthetic. Xenon gas is ecologically clean and absolutely non-toxic in nature on account of which it is primarily used in the treatment of various brain diseases.
- Based on the distribution channel, the market has been segmented as packaged, merchant and on-site. Currently, packaged (compressed in metal cylinder for customers) dominates the market, holding the largest share.
- On the basis of end-user, imaging and lighting represents the largest segment. It is followed by the automotive and transportation; aviation and aerospace; healthcare and other segments.
- Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the market share.
- The competitive landscape of the market has also been examined with some of the key players being Airgas, Air Liquide, Linde, Messer, Praxair, Air Water, American Gas, BASF, Core Gas, Matheson Tri-Gas and Proton Gas.
This report provides a deep insight into the global xenon gas market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the xenon gas industry in any manner.
Key Questions Answered in This Report:
- How has the global xenon gas market performed so far and how will it perform in the coming years?
- What are the key regions in the global xenon gas market?
- What are the major distribution channels in the global xenon gas market?
- What are the key end-use segments in the global xenon gas market?
- What are the various stages in the value chain of the global xenon gas industry?
- What are the key driving factors and challenges in the global xenon gas industry?
- What is the structure of the global xenon gas industry and who are the key players?
- What is the degree of competition in the global xenon gas industry?
- How is xenon gas produced?