As stated in our extensive report; the Global Krypton Market accounted forUSD 45.2 Millionin 2021.
The Krypton Market is to soar rapidly in the projected time as there is high demand for Krypton owing to its extensive applications in numerous industries such as window installation, lighting, and laser industries.
A rise in the adoption of LED lighting systems is another key aspect fuelling theKrypton Marketgrowth. Krypton gas is used in fluorescent and metal halide lamps to create a brighter light.LEDs provide various advantages over traditional lighting technologies like incandescent bulbs and fluorescent lamps. For example, they have enhanced energy efficiency, longevity, and benign environmental impact.
Moreover, semiconductor manufacturers use krypton gas as a dopant in order to create better and smaller transistors, and lasers used in medical, industrial, and scientific applications require krypton gas as a medium, increasing the market growth further.
Factors Influencing Global Krypton Market Growth
The growth of the Global Krypton Market can be attributable to the following:
- Krypton has a wide variety of industries, such as fluorescent lighting alone or in combination with argon & neon. Also,it is used in slide projectors and tungsten-filament projector lamps.
- Increasing adoption of Kryptonin medical applications such as MRI and CT scanning, is driving the market’s expansion.
- Theincreasing needfor energy-efficient andeco-friendly productsis another factorpropelling thegrowth in this market.
- Krypton is used in many applications in laser markets because of its high penetration power. The Krypton-filled lasers are utilized for chemistry research, short and long-distance communication, material analysis by atomic spectroscopy, medical imaging (MRI), and others. These lasers emit at wavelengths, i.e., between 190 nm and 20 000 nm. The energy emitted is lower, making such devices safe for biological systems.
- The growing use of Krypton in satellites will create growth prospects for the Krypton Market in the coming years.
On the other hand, the high charges of Krypton might hamper the market’s growth during the forecast period.
Asia Pacific region Dominates the Global Market
Asia Pacificholds the largest market share in theKrypton Market and is anticipated to continue this trend in the coming years. This is due to the potent presence of foremost participants such as Air Liquide S.A, Japan Gases Limited, and India Gas Company Ltd., among others. China and Indian markets are significant contributors inAsia Pacificregion. Furthermore, the manufacture of the excimer laser needs Krypton gas, which will fuel this region's Krypton Market growth throughout the forecast period. The increasing economic developments, mainly in areas such as China and South Korea, are also anticipated to contribute considerably to Krypton Market regional growth.
As per our latest study, the ever-increasing sales of glazing windows have certainly impacted the overall Krypton Market.
The well-known players of the Global Krypton Market include Praxair Inc. (US), Messer Group GmbH (Germany), Air Liquide (France), Air Products & Chemicals Inc. (US), Linde PLC (Ireland), Air Water Inc. (Japan) and others.