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Krypton Market to Hit USD 60.95 Million by 2029; Heightened Krypton Usage in Glazed Windows to Propel the Market Forward

June 30, 2022 | Chemicals & Materials

The global krypton market size reached USD 47.45 million in 2021. The market value is slated to increase from USD 57.31 million in 2022 to USD 60.95 million by 2029, recording 0.9% CAGR during 2022-2029. Increasing application in glazed windows and space exploration will drive the market forward over the projected period. Fortune Business Insights™ presents this information in its report titled “Krypton Market Size, Share & COVID-19 Impact Analysis, By Type (N3, N4.5, and N5), By Application (Lighting, Window Insulation, Laser, and Others), and Regional Forecast, 2022-2029”.


Delays in Construction Projects Hampered Growth during COVID-19 Pandemic


Since the announcement of lockdowns in various nations throughout the world, the supply of building and construction materials was severely hampered. As a result, many non-medical infrastructure development projects were abandoned or delayed, resulting in a decline in demand for window insulating materials such glass panels. According to the U.S. National Glass Association, people in various cities, including New York avoided glass fitting. Furthermore, as a result of the cancellation of events, such as public meetings, weddings, and concerts, demand for lighting goods declined. These factors affected the market growth during COVID-19.


Israel Institute of Technology Launches Three New Kr-Powered Nano-Satellites


The Israel Institute of Technology rolled out three new nano-satellites, powered by a krypton-based propulsion system. The new nano-satellites are launched strategically to monitor the signals received from the Earth and to track the real-time locations of aircraft vessels.  


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/krypton-market-101961


Window Glazing Applications to Drive Market Growth in the Future


Krypton gas is predominantly employed in the production of high-end double and triple glazed windows, which is fueling the krypton market growth. It is highly insulating both thermally and acoustically. It is more expensive than the most common gas in the market, argon. However, krypton is gaining popularity as the need for high-performance and energy-efficient windows develops. Glazed windows are seeing a surge in demand from hot climate regions, such as the Middle East, to cold climate regions such as Europe and other parts of the world. These windows allow for low-temperature absorption in the summer and high-temperature retention in the winter, resulting in significant cost savings on air conditioning.


Competitive Landscape


Leading Players Adopt Acquisition Strategies to Stay Competitive


Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.  


Notable Industry Development:



  • July 2021: Jiangsu Shagang Group and Air Liquide entered in a long-term agreement to supply industrial gases in Jiangsu Province, China. Air Liquide will invest to establish a new ASU, which will also supply Kr to the electronics industry in China.


List of Key Players Profiled in the Report



  • 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)

  • Air Water Inc. (Japan)


Further Report Findings



  • The market value in Asia Pacific was USD 19.10 million in 2021. Due to considerable demand from the construction and semiconductor industries, this region's growth is likely to accelerate significantly in the near future. Continuous urbanization in developing APAC countries has expedited product demand, providing the suppliers with significant growth opportunities.

  • More than a quarter of the global krypton market share is accounted for by North America. The increased use of Kr as a propellant in the aircraft industry is expected to boost demand in the region. Meanwhile, demand for windows will drive development in the European market.


Table of Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Volume (Million Liters); Value (USD Million)



Segmentation



By Type, Application, and Geography



By Type


 




  • N3

  • N4.5

  • N5



By Application


 




  • Lighting

  • Window Insulation

  • Laser

  • Others



By Geography


 




  • North America (By Country)

    • U.S.

    • Canada

    • Mexico



  • Europe (By Country)

    • Germany

    • U.K.

    • France

    • Russia

    • Italy

    • Rest of Europe



  • Asia Pacific (By Country)

    • China

    • Japan

    • South Korea

    • India

    • South East Asia

    • Rest of Asia Pacific



  • South America (By Country)

    • Brazil

    • Argentina

    • Rest of South America



  • Middle East & Africa (By Country)

    • Saudi Arabia

    • Turkey

    • Egypt

    • South Africa

    • Rest of the Middle East & Africa




Krypton Market
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