Austin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The Krypton Market Share was valued at USD 58.0 million in 2023, and is expected to reach USD 62.6 million by 2032, and grow at a CAGR of 0.9% over the forecast period 2024-2032.
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Key Companies:
- Messer Group GmbH
- Air Liquide
- Air Products & Chemicals Inc
- Linde PLC
- Air Water Inc
- Praxair Inc
- Proton Gases Pvt. Ltd
- Coregas Pty Ltd
- Iceblivk Ltd
- Electronic Fluorocarbons LLC
The Krypton market has also witnessed several developments in recent times. They include strategic measures taken by major companies to cement their position in the marketplace. The leading European krypton manufacturer, Linde PLC also announced its plan to increase its Krypton production facilities in Germany to meet the rising need for high-purity grade Krypton gas required by the Semiconductor Industry at a scale which is expected within January 2024 the acquisition highlights the increasing significance of Krypton in electronics, especially high-end microchip production. Earlier, In October 2023 a world leader in gas technologies and services for Industry and Health, Air Liquide had inaugurated its new Krypton production facility in China. These are expansions that spread across companies to invest in Krypton production to cash in on its growing applications.
Another large consumer of krypton and a vital element driving growth in the market is construction. Its use in energy-efficient windows has also seen extensive application, particularly in areas with strict regulations on energy efficiency. In May 2023, Saint-Gobain announced that its sales for Krypton-filled insulating glass units increased by 15%, a factor assisted by growing demand for energy-efficient buildings. This trend is likely to continue as more and more nations start legislation to reduce the energy consumption of buildings.
Another budding area of growth for the Krypton market is in the aerospace sector. Krypton finds increasing use in ion thrusters for space missions. Recent innovations in space technology have infused strength into this demand. In February 2024, SpaceX announced that its satellite mission powered by a Krypton-powered ion thruster had been successful, underlining the growing use of Krypton in advanced aerospace applications.
Krypton Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 58.0 million |
| Market Size in 2032 | USD 62.6 million |
| CAGR (2024-2032) | 0.9% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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Segment Analysis
In 2023, the lighting segment dominated the Krypton market, holding a greater share of approximately 35%. This dominance is influenced by the growing use of Krypton in energy-efficient lighting applications within the automotive and industrial sectors. For example, Krypton-filled bulbs find applications in high-intensity automotive lighting since they are brighter and more energy-efficient than other conventional lighting solutions. Again, the global emphasis on energy conservation and strictness over energy efficiency exercised by regional regulations, such as those in place in Europe, adds a further boost to the demand from the lighting application area. In Germany, Krypton-filled headlights have gained ground in the automotive industry, mainly in the high–end models of cars, where high luminosity and long life are major criteria. This strong demand from the lighting sector underlines the leading role of Krypton in this market.
Trend Analysis: Krypton Market
The Krypton market experiences many major trends that are defining its future. One of the most interesting trends in this market has to do with the growing adoption of Krypton in high-end lighting solutions due to energy efficiency and better performance. For instance, the automotive sector is using Krypton-filled headlights thanks to its enhanced luminosity and long life, which helps in fuel saving and higher security. Yet another important trend is the rising utilization of Krypton in insulation applications, especially in high-performance windows for buildings helping save energy. The trend gets further impetus from the fact that different countries are going to implement stringent energy conservation norms which would in turn raise the demand for Krypton. The use of Krypton by the aerospace industry in ion thrusters has recently drawn a lot of attention, due to the potentiality of the impact of such development on the future of space exploration.
Regional Analysis
In 2023, Asia Pacific dominated and holds a 40% market share of Krypton. This dominance was majorly driven by booming electronics and semiconductor industries; high-purity Krypton is used in the manufacturing of advanced microchips and displays. Countries like China, Japan, and South Korea, known for their robust electronics sectors, added immensely to this demand. For instance, in China, it was the growth of semiconductor manufacturing plants that drove the demand for krypton. Likewise, the rising infrastructure development in the Asia Pacific region, particularly in the urbanizing countries, used more Krypton-filled windows to make energy-efficient buildings, thus supporting the market growth further.
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Key Takeaways:
- Asia Pacific dominated the krypton market, at an estimated 40% market share in 2023, due to the strong demand from the electronics and construction sectors.
- The lighting segment dominated the market, accounting for approximately 35%, due to the increased adoption of Krypton in energy-efficient lighting.
- Probably one of the most prominent points, though, was one of the largest production expansions, such as the new facility that Linde PLC has in Germany, which underpinned the increased supply of Krypton to Europe.
- In 2022, Russia banned noble gas exports, causing the price of Krypton to rocket, thus impacting global supply chains.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Krypton Market Segmentation, By Type
- N3
- N4.5
- N5
8. Krypton Market Segmentation, By Supply Mode
- Cylinders
- Bulk & Micro bulk
- Drum tanks
- Others
9. Krypton Market Segmentation, By Application
- Laser
- Window Insulation
- Lightning
- Others
8. Krypton Market Segmentation, By End Use Industry
- Construction
- Automotive
- Healthcare
- Electronics & Semiconductor
- Aerospace & Defense
- Others
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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