The global krypton market size is estimated to reach USD 13.51 million by 2026, thereby exhibiting a CAGR of 0.96% over the forecast period. However, the market stood at USD 12.50 million in 2018. This information is provided by Fortune Business Insights™ in a recently published report, titled, “Krypton Market Size, Share & Industry Analysis, By Application (Lighting, Windows, Laser, R&D and Others), and Regional Forecast, 2019-2026.” As per the report, krypton is a noble gas element that is extensively used in glazing and thermal insulation windows. The element is tasteless, non-toxic, odorless, colorless, and chemically inert.
A List of Renowned Krypton Providers Operating in This Market:
- Air Liquide (France)
- Linde PLC (Ireland)
- Air Products & Chemicals, Inc. (USA)
- Messer Group GmbH (Germany)
- Proton Gases (India) Pvt. Ltd. (India)
- Matheson Tri-Gas, Inc. (USA)
- American Gas Products (AGP LLC) (USA)
- Coregas Pty Ltd. (USA)
- Akela-p Medical Gases P. Ltd. (Russia)
- Electronic Fluorocarbons, LLC (USA)
- Iceblick Ltd. (Ukraine)
- Air Water Inc. (Japan)
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REPORT COVERAGE-
- In-depth information about the krypton
market trends, opportunities, challenges, growth drivers, and obstacles.
- List of all the possible segments
present in the market.
- Comprehensive analysis of the significant strategies adopted by key businesses.
- Brief details regarding the important industry developments, namely, new contracts, agreements, strategic collaborations, mergers and acquisitions, and novel product launches.
DRIVERS & RESTRAINTS-
Increasing Demand for Energy-efficient
Windows to Fuel Growth
Krypton is
mainly used in the triple glazed and high-end double windows. It offers a
highly superior acoustic, as well as thermal insulation. It is very expensive
in nature as compared to argon. In the glazing windows market, krypton is one
of the leading elements. Besides, the ever-increasing demand for
energy-efficient and high performance windows is set to propel the krypton
market growth during the forthcoming period. Windows equipped with krypton are
capable of absorbing low-temperature in summers and retaining high-temperature
in winters.
Read a Detailed Summary of This Report:
Regional Insights-
High Demand from Construction &
Semiconductor Industry to Favor Growth in Asia Pacific
In terms of
region, the market is fragmented into Asia Pacific, North America, the Middle
East and Africa, Latin America, and Europe. Out of these, at present, Asia
Pacific dominates the market on account of the rising demand from the semiconductor
and construction industry. China is anticipated to exhibit increasing
urbanization in the coming years, which in turn, would create lucrative growth opportunities.
Additionally, the region houses a well-established electronics and semiconductor
industry. Coupled with this, the rapid economic developments in the emerging
countries in this region would augment growth.
North
America, on the other hand, had acquired USD
3.57 million krypton market share in 2018 and is set to showcase significant
growth backed by the increasing government initiatives to promote green and energy-efficient
buildings. Also, the booming construction industry in this region would boost
growth. The U.S. government, for instance, put forward a tax-saving program
that have helped in upsurging the demand for high-performance krypton filled
windows. In Europe, the demand of krypton is led by the windows segment. The
masses residing in this region use krypton 3.0 window grade. Apart from that, the
rising demand for laser and research applications would propel growth in this
region.
COMPETITIVE LANDSCAPE-
Key Players Focus on Developing New Gas
Producing Facilities to Compete in Market
The market
consists of numerous reputed organizations that are investing huge sums in the development
of new gas producing facilities and plants across the world. Their main focus
is on gaining the maximum krypton market revenue and broadening their consumer
bases.
KEY INDUSTRY DEVELOPMENTS-
- August 2018:
Air Water, a chemical company based in Japan, announced that it is planning to
construct a new facility to expand the considerable sales and supply of rare
gases, such as krypton and xenon. The facility would aid the company in
producing these gases in the cryogenic air separation unit (ASU) that has been
under operation in Kobe Steel’s Kakogawa Plant. At present, the company is importing
neon and is procuring krypton from domestic sources. However, it has begun producing
xenon at its Kagoshima Plant while importing it in only a small quantity.
- August 2015:
The Messer Group GmbH, a supplier of industrial gases, headquartered in Germany,
declared that is has invested approximately €33 million in a brand new plant in
the Jiangsu province. The plant would produce specialty gases for the
electronics industry, especially for the development of photovoltaic equipment,
LEDs, semiconductors, and flat screens. It will also have an additional filling
station and will pose as a logistics and production center for Messer in China.
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