Krypton Market Size, Share & Industry Analysis, By Application (Lighting, Windows, Laser, R&D and Others), and Regional Forecast, 2019-2026

Krypton is a noble gas element with atomic number 36 and chemical symbol Kr. It is a chemically inert and non-toxic, tasteless, colourless, and odourless gas. It is found in trace amounts in the Earth’s atmosphere of around 1.14 ppm in concentration or 0.000114% by volume. It exists as a monoatomic gas in nature and is used for a variety of applications ranging from lighting to research & development.

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The krypton market is classified on the basis of application such as lighting, windows, laser, R&D, and others. Thermal insulation windows or glazing windows dominate the consumption of krypton accounting for just over half of the global market. Lighting applications account for a significant market share in the krypton market. However, its market is shrinking due to the increasing adoption of LED technology in the prominent markets. In 2018, the lighting segment accounted for 35.22% share in the krypton market.   

MARKET DRIVERS

“Soaring Demand for Krypton in Glazing Windows to Boost Market Growth”

Krypton is mainly adopted in the high-end double and triple glazed windows. It provides superior thermal as well as acoustic insulation. It is relatively expensive than argon, which dominates the glazing windows market. However, krypton is gaining significant traction in the market as the demand for high performance and energy-efficient windows is increasing. From high temperatures in the Middle East, to the cold wehther in Europe & other parts of the world, krypton filled multi-layered windows have sound adoptions. These windows function efficiently by allowing low-temperature absorption in summers and high-temperature retention in the winters. This significantly reduces the air-conditioning cost. These factors are expected to boost the krypton market growth over the coming years.

SEGMENTATION

By Application Analysis

“Windows Segment is Poised to Generate the Highest Revenue During the Forecast Period”

The Windows segment dominates the krypton market both in term of volume and value. Krypton filled multi-layer windows are relatively expensive than the most widely used argon-filled multi-layer windows. However, the former are better in performance than the argon-filled windows. Also, with the increasing importance of energy-efficient buildings, the demnd for krypton is increasing from the multi-layer glazing windows sector. In the United States, around 40% of energy consumption is utilized for heating and cooling purposes. The use of double & triple glazed windows can significantly reduce energy consumption and cost over a period of time. With the rising need for energy-efficient and greener buildings, the demand for krypton filled windows is also expected to increase. Many skyscrapers around the world are also equipped with krypton filled windows for superior performance. For instance, the Empire State Building in New York is equipped with 6379 krypton-air, argon gaseous mixture filled windows. This has reduced the heat losses of the building by over 75%.       

The Lighting segment also accounted for a prominent share in the global krypton market in 2018. Krypton filled lamps have high demand in the road transport and industrial lighting applications due to their long life span and high white light luminance. However, with the advent of superior lighting technology such as LED, the demand for krypton lamps is continuously decreasing. 

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The demand for krypton in the laser industry, on the other hand, is significantly increasing due to high requirement of krypton excimer lasers in the field of semiconductor and medical. Krypton lasers are one of the brightest lasers in the world and have a prolonged life period. In the semiconductor industry, it is used in the production of integrated circuits, micromachining, and other similar applications.

R&D and other applications segment is the fastest-growing segment in the krypton market. In liquid form, krypton is used in the construction of quasi-homogeneous electromagnetic calorimeters during the experimental particle physics experiments. For instance, the calorimeter used in NA48 experiment conducted by CERN contains about 7.2 million litres of liquid krypton. Moreover, krypton is also being used as an efficient propellant in the electric propulsion systems in satellite launches. SpaceX in 2019, launched satellites using krypton propelled engines. These set of satellites were only a few of the total satellites in the project. SpaceX is set to launch around 12,000 satellites over the coming years, under ‘Satellite Constellation Project’. This is expected to consume a significant amount of krypton over the course of completion of the project.

REGIONAL ANALYSIS

The Asia Pacific dominated the market in terms of revenue, owing to the strong demand from the construction and semiconductor industry in this region. China experienced a strong urban development in the previous decade and that created lucrative growth opportunities for the associated industries. The established semiconductor and electronics industry in this region also significantly contributed to the upsurging demand for krypton over the years. Asia Pacific is poised to be the fastest-growing market over the forecast period owing to the rapid economic developments in the emerging countries.

North America accounts for over one-fourth of global krypton consumption. The resurgent construction industry and government efforts for promoting energy-efficient and greener buildings have generated significant traction for krypton filled windows in the local market. In 2010, the U.S. government launched a tax-saving program for thermal insulation measures that resulted in the increasing demand for high-performance krypton filled windows. The demand in the region is further expected to increase with the adoption of krypton as the propellant in the aerospace industry. Space exploration companies such as SpaceX has preferred to use krypton instead of xenon in the electric propulsion engine due to economic benefits and abundant availability of krypton, for satellite launches.

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Europe follows a similar consumption trend as of North America. The demand in the region is dominated by the windows segment. Krypton of purity 99.9% (krypton 3.0 window grade) is prominently used in this region. Also, the demand for krypton in lighting applications is rapidly decreasing in the western countries of Europe such as Germany, France, and the U.K. which is expected to hamper the market growth over the forecast period. However, it has a strong demand from the research and laser applications, which in turn, are expected to drive the regional markets over the forecast period.

Latin America and the Middle East & Africa possess relatively small krypton markets and are expected to showcase low growth in the market value as compared to the other regions. The high temperatures in the Middle East would create lucrative opportunities for krypton filled glazed windows to be employed in the skyscrapers. However, there are very few manufacturers of multi-layer glazed windows in the region that restricts the market growth. Brazil & Mexico are the prominent krypton consumers in Latin America. With the improvement in socio-political conditions in this region, the end-use industries are expected to regain their momentum and thus, increase the demand for krypton over the forecast period. However, the market is anticipated to exhibit only a sluggish growth over the foreseeable period. 

KEY INDUSTRY PLAYERS

“Global Giants Focus on Mergers & Acquisitions to Gain Comeptitive Edge”

The global krypton market share is highly consolidated with the top five manufacturers accounting for more than 85% of the market. The merger & acquisition remains one of the major strategies of the key players operating in the market. Top players have strengthened their market positions & penetration through such strategies in recent years. This has helped the players to increase their market presence and maintain an uninterrupted krypton supply to the end-users.

List Of Key Companies Covered:

• Air Liquide


• Linde plc


• Air Products & Chemicals, Inc.


• Messer Group GmbH


• Proton Gases (India) Pvt. Ltd.


• Matheson Tri-Gas, Inc.


• American Gas Products (AGP LLC)


• Coregas Pty Ltd


• Akela-p Medical Gases P. Ltd


• Electronic Fluorocarbons, LLC


• Iceblick Ltd.


• Air Water Inc.


• Other key players

REPORT COVERAGE

A growing trend is observed in the penetration of the krypton market across the industries.  The report provides qualitative and quantitative insights into the market and a detailed analysis of the krypton market size & growth rate for all possible segments that exist in the market. The market is segmented by application and geography. Based on the application, the krypton market is classified into lighting, windows, laser, and R&D and others. Geographically, the market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions are further categorized into countries.

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Along with this, the report provides an elaborative analysis of the krypton market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in this market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape and company profiles.

Report Scope & Segmentation

Key Industry Developments

• August 2018, Air Water Inc., started construction of new facility at Kobe Steel’s Kakogawa Plant for the production of krypton & xenon. The company completed the construction of facility in April,2019.  The production capacity of krypton is reported to be 88,090 litres per year and that of xenon is 1,103,600 litres per year. 


• June 2015, Messer GmbH started with the production of krypton and xenon at its production facility in Panzhihua, Sichuan province. The plant has an annual production capacity of 5 million liters for krypton and 0.45 million liters for xenon.