The global krypton gas market is expected to reach USD 180.9 million in 2023. With demand expanding at a 5.4% CAGR, the market valuation is poised to surpass USD 306.1 million by 2033.
The growing construction of sustainable buildings is fueling the demand for high-performance windows. Due to its outstanding acoustic and thermal insulation, krypton is primarily utilized in the construction of high-end triple and double glass windows.
The rising need for energy-efficient and high-performance windows in the commercial and residential sectors is going to create prospects for growth in the market.
Growing demand from the commercial sector is pushing sales of glazing glass. The increasing establishment of residential and commercial projects in India, China, and Brazil is fueling the adoption of insulated glazed units. This in turn might boost sales of krypton gas for commercial lighting.
| Attributes | Details |
|---|---|
| Krypton Gas Market Base Year Value (2022A) | USD 172.2 million |
| Krypton Gas Market Estimated Year Value (2023E) | USD 180.9 million |
| Krypton Gas Market Projected Year Value (2033F) | USD 306.1 million |
| Krypton Gas Market Value-based CAGR (2023 to 2033) | 5.4% |
| Krypton Gas Market Collective Value Share: Top 3 Countries (2023E) | 50% |
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Demand for krypton gas is projected to expand at a 5.4% CAGR over the forecast period, in comparison to the 10.4% CAGR registered between 2017 and 2022. Expansion of the construction and infrastructure sector across the globe may augment the growth in the market over the forecast period.
Increasing government-backed investments in public infrastructure projects and residential projects are expected to spur demand in the market. Krypton gas is used in commercial lighting which is used in these construction projects. Driven by this, sales of krypton gas might continue gaining traction over the forecast period.
For a long time, the construction industry has been the primary end-user of krypton gas due to its high utilization as an insulator in glazing windows. Rapid urbanization and the growing establishment of smart cities across developing nations are spurring demand for effective lighting, which in turn is driving sales of krypton gas.
Krypton is used in commercial, residential, and infrastructural lighting. It can be found in both incandescent and fluorescent light bulbs which are used for decorative purposes in commercial and residential buildings.
When krypton is ionized, it emits a bright white light, making it ideal for flashbulbs, airport runway lights, fluorescent lamps, lasers for laser shows, krypton plasma, & neon signage. The glow emitted is greenish-yellow or bluish when combined with other gases in signs or lights. Owing to these applications, sales of krypton gas are likely to continue gaining momentum.
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Krypton gas is produced in less quantity as compared to other inert gases like argon and other industrial gases. Also, the demand and supply side of krypton gas across the globe is quite constricted, which is resulting in price fluctuations of the product.
Nearly 40% of the global demand for krypton gas is catered by Ukraine. The ongoing Russian invasion of Ukraine has disrupted the production and supply chain of Ukraine, including the supply of noble gases including krypton gas. This disruption raises concerns about the structure and robustness of global supply networks, particularly for the end-use industries.
Krypton gas causes severe effects on health upon inhalation. This inert gas is classified as a simple asphyxiant. Dizziness, nausea, vomiting, loss of consciousness, and death can all be symptoms of excessive inhalation. A delay in judgment, confusion, or loss of consciousness that hinders self-rescue might also result in death due to the consumption of krypton gas.
The Russian-Ukraine war has prompted at least two of the three key Ukrainian air separation companies to shut down their operations, blocking a large share of the world's noble gas exports. Due to this, supply chains of the krypton gas market are disrupted.
Ukraine is the leading exporter of noble gases such as neon, krypton, and xenon in the world. Ukraine provides about 70% of the world's neon gas & 40% of the world's krypton supply. Other big rare gas suppliers include China, Japan, and South Africa. Owing to these reasons, an upsurge in the price of rare gases including krypton gas is being witnessed.
Most of the end-use industries which use these gases are also affected. In response to this, manufacturers are aiming to expand their production facilities to improve the supply of krypton gas across the globe.
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Expansion of the Construction Sector in the USA Could Drive Sales of Krypton Gas
Total sales of krypton gas in the USA market were slated to a valuation of USD 36.1 million in 2022. This growth can be attributed to the development of advanced infrastructure projects such as smart cities, commercial and residential complexes, malls, hospitals, and universities. These infrastructure facilities utilize optimal lighting which uses krypton gas.
Increasing government-backed investments in the construction sector might continue augmenting the growth in the USA market.
| Regional Markets | Global Market Share in Percentage |
|---|---|
| The United States | 20.8% |
| Germany | 7.6% |
| Japan | 2.9% |
| Australia | 1.1% |
Increasing Demand for Decorative Lighting in China is Likely to Fuel Sales of Krypton Gas
As per FMI, sales in the China market are poised to increase at a 6% CAGR over the assessment period, accounting for a dominant share of East Asia krypton gas market.
China is a manufacturing powerhouse that ranks among the world's top producers of automobiles, infrastructure development, manufacturing, and a few other significant krypton gas end-use industries. This is going to continue driving demand for krypton gas over the forecast period.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 4.4% |
| China | 6% |
| India | 6.2% |
Sales of Krypton Gas Cylinders are Poised to Gain Traction in the Coming Days
Based on supply mode, demand for cylinders accounted for 45.4% of the total market share in 2022. Furthermore, based on the FMI analysis report, this segment is projected to increase at a 5.3% CAGR during the forecast period.
Cylinders are emerging as the most popular krypton gas delivery method. Manufacturers are packaging krypton gas in cylinders for applications in the healthcare, electronics, and automotive sectors due to their high agility.
Tanks are also frequently used to transport large quantities of krypton gas over long distances. To ensure proper supply, tanks are filled with compressed or liquefied gas. For industrial uses, however, on-site delivery via pipelines and other ways is used to ensure a continuous supply.
| Category | By Supply Mode |
|---|---|
| Top Segment | Cylinders |
| Market Share in Percentage | 45.4% |
| Category | By Application |
|---|---|
| Top Segment | Windows |
| Market Share in Percentage | 51.2% |
Demand for Krypton Gas for Decorative and Commercial Lighting to Remain High
In terms of applications, the Windows segment commanded 51.2% of the total market share in the year 2022. Moreover, with sales expanding at a 5.3% CAGR over the forecast period, this segment is expected to retain its dominance through this period.
Lamps, advertising signs, and bulbs utilize krypton gas. Its usage in fluorescent lights results in a significant reduction in power consumption which is another factor fueling sales in the market. Increasing demand for energy-efficient bulbs and lighting, along with the rising adoption of decorative lighting in residential projects might drive sales in this segment.
Leading players operating in the global krypton gas market are investing in partnerships, acquisitions, and collaborations to expand their global footprint. Also, countries including Ukraine, Russia, and China are huge manufacturers of krypton gas, accounting for 60-70% share. Key manufacturers are putting a strong emphasis on research and development to find new application areas to improve and boost sales.
Recent Developments by the Krypton Gas Industries
According to recent developments in experimental particle physics investigations, liquid Kr can be used to build the coveted quasi-homogeneous electromagnetic calorimeters. As an illustration, the calorimeter utilized in the NA48 experiment of CERN held around 7.2 million liters of liquid Krypton. Additionally, Krypton has proved to be a powerful propellant for the electric propulsion systems utilized in modern satellite launch vehicles.
Given the enormous demand for Krypton excimer lasers in the semiconductor and medical industries, the laser market is advancing as a notable end-user vertical. Such lasers are bright and have a lengthy lifespan. Micromachining, integrated circuit production, and other related processes are all supported by the semiconductor industry which has opened up new avenues for krypton gas suppliers.
Air Liquide began selling xenon and krypton to the semiconductor and satellite sectors in three regions namely Europe, North America, and Asia, in July 2018, after signing numerous new multi-year contracts for more than €50 million.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD million for Value and Kilograms for volume |
| Key Regions Covered | Latin America, North America, Europe, East Asia, South Asia Pacific, and the Middle East and Africa |
| Key Countries Covered | The United States of America, Canada, Germany, Italy, Brazil, Mexico, France, the United Kingdom, Spain, Russia, Poland, China, Japan, South Korea, GCC Countries, Türkiye, and South Africa. |
| Key Market Segments Covered | Supply Mode, End-Use Industry, and Region |
| Key Companies Profiled | Air Products & Chemicals Inc.; Matheson Tri-Gas, Inc.; BASF SE; American Gas Products; Air Liquide; The Linde Group.; Air Water Inc.; Taiyo Nippon Sanso Corporation; Axcel Gases |
| Pricing | Available upon Request |
The market is anticipated to secure a valuation of USD 180.9 million in 2023.
The market is estimated to reach USD 306.1 million by 2033.
The industry is estimated to expand at a 5.4% CAGR.
The United States has a market share of 20.8% globally.
With a 7.6% market share, Germany rules over.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Supply Mode 5.1. Cylinders 5.2. Bulk & Micro Bulk 5.3. Drum Tanks 5.4. On-Site 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Lighting 6.2. Windows 6.3. Lasers 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Air Products & Chemicals Inc. 15.2. Matheson Tri-Gas, Inc. 15.3. BASF SE 15.4. Messer Group GmbH 15.5. American Gas Products 15.6. Air Liquide 15.7. The Linde Group 15.8. Air Water Inc. 15.9. Taiyo Nippon Sanso Corporation 15.10. Axcel Gases 16. Assumptions & Acronyms Used 17. Research Methodology
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Krypton Gas Market
