The Global Xenon Market Size Was Valued At USD 203.92 Million In 2022. The Market Is Expected To Grow From USD 247.86 Million In 2022 To USD 286.42 Million In 2030, At A CAGR Of 2.1% During The Forecast Period.

Xenon Market Overview:

Xenon (Xe) is a completely inert gas filled in a tube that emits blue light when exposed to an electric discharge. Although it has very little commercial use, it is considered preferable due to its excellent properties. This noble gas is versatile and based on its purity, it is used in various industries such as satellite, imaging, lighting, electronics, medical, etc. The demand for xenon gas is expected to increase over the forecast period due to favorable growth of these applications in both developed and developing economies.

Xenon market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Xenon market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• February 2019: OneWeb Satellites, a designer and manufacturer of satellite constellations, launches the first six of 100 satellites. The company plans to launch 900 satellites one after another to provide a customers with affordable internet services. The company's low-power proportional system, conceived by Airbus, employs xenon gas HET and innovative electronics and propellant systems.
• July 2018: Air Liquide, one of the world's largest producers of noble and other industrial gases, has signed several new multi-year supply contracts for xenon and krypton to the satellite and semiconductor industries in the US, Europe and Asia Pacific. The contracts are reportedly worth more than $59 million.

Major Segments Covered in the Global Xenon Market:

Market Key Players:
Air Liquide (France), Linde PLC (Ireland), Air Products & Chemicals, Inc. (U.S.), Messer Group GmbH (Germany), Proton Gases (India) Pvt. Ltd. (India), Matheson Tri-Gas, Inc. (U.S.), American Gas Products (AGP LLC) (U.S.), Coregas Pty Ltd. (U.S.), Akela-p Medical Gases P. Ltd. (Russia), Electronic Fluorocarbons, LLC (U.S.), Iceblick Ltd. (Ukraine)

Xenon Market by Types:

• High Purity Xenon
• Common Purity Xenon
• N3
• N4.5
• N5

Xenon Market by Applications:

• Laser Mixtures
• PDP Backlighting
• Imaging & Lighting
• Satellite
• Electronics & Semiconductors
• Medical
• Research & Others

Xenon Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

The Asia Pacific region is the major consumer owing to the growing demand from the satellite industry. The market size in this region will be valued at USD 74.8 million in 2021. A number of satellites with xenon electric propulsion systems are planned for launch in the coming years. Large quantities of this gas are also consumed when testing engines. For example, the Indian Space Research Organization (ISRO) launched GSAT 20 in mid-2020. The procurement process for high-purity xenon was launched in 2018 for testing and quality inspection purposes. ISRO has also conducted a number of satellite launches (GSAT 9, GSAT 4) using Xe-based electric propulsion systems.

China and Japan are the main countries that consume large amounts of xenon for satellite applications. The electronics and semiconductor industries consume large quantities of gases in etching and other applications. Growth in the electronics industry owing to increasing semiconductor production is expected to positively support the growth of the xenon gas market.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Growth:

Gases in the form of xenon chloride (XeCl) play an important role in excimer lasers used in the semiconductor industry. In plasma etching during semiconductor production, high-frequency or electrodeless microwave discharges are ignited in vacuum reactors. The reactor is filled with highly reactive xenon gas, which produces an etch-reactive plasma. In 2018, Samsung practiced a 3D photolithography process for the semiconductor industry, which requires a large amount of this gas.

Drivers:

Xe is an inert gas and an excellent propellant for electric ion propulsion systems. It has gained considerable traction in the satellite space due to its advantages. Electric propulsion plays a vital role in interplanetary operations, and electric propulsion plays an important role in space exploration. Weight reduction is the main advantage of using this gas as a propellant. It enables the spacecraft to carry more payloads. Additionally, the high ionization facilitated by the gas makes it ideal for moving between heliocentric orbits. The United States, China, and Russia have launched several satellites through 2019 and are likely to be the leading countries for satellite launches. Increasing adoption of natural gas for satellites in developed countries is likely to drive the market.

Restraints :

The gas is classified as an asphyxiating agent, meaning inhalation of high concentrations can cause nausea, dizziness, vomiting, and sometimes death. In low oxygen levels, death can occur within seconds without warning. At 75% oxygen and 25% this gas, a person may experience the above symptoms, but may also cause mental illness, fatigue, depression and emotional instability. The European Industrial Gases Association (EIGA) and the U.S. Occupational Safety and Health Administration (OSHA) have adopted regulations mandating that noble gas storage locations should contain between 20% and 25% oxygen. If oxygen levels are uncertain, entry to the area must be prohibited. Despite ambient oxygen levels, there should be adequate ventilation for fresh air to avoid any disaster.

Report Scope of Global Xenon Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Frequently Asked Questions-

What is the CAGR of the Xenon market?

The Xenon Market is growing at a CAGR of 2.1% During the Forecast Period.

 What are the key types and applications of the Xenon market?

- High Purity Xenon, Common Purity Xenon, N3, N4.5, N5

- Laser Mixtures, PDP Backlighting, Imaging & Lighting, Satellite, Electronics & Semiconductors, Medical, Research & Others

Who are the key players in the Xenon market?

Air Liquide (France), Linde PLC (Ireland), Air Products & Chemicals, Inc. (U.S.), Messer Group GmbH (Germany), Proton Gases (India) Pvt. Ltd. (India), Matheson Tri-Gas, Inc. (U.S.), American Gas Products (AGP LLC) (U.S.), Coregas Pty Ltd. (U.S.), Akela-p Medical Gases P. Ltd. (Russia), Electronic Fluorocarbons, LLC (U.S.), Iceblick Ltd. (Ukraine)

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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.