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Xenon Market to Reach USD 228.96 Million by 2028; Increasing Utilization of Semiconductors in Consumer Durables Industry to Augment Growth

May 03, 2021 | Chemicals & Materials

The global xenon market size is projected to reach USD 228.96 million by 2028 owing to the increasing utilization of semiconductors backed by the high demand for consumer electronics, observes Fortune Business Insights™ in its report, titled, “Xenon Market Size, Share & COVID-19 Impact Analysis, By Type (N3, N4.5, and N5), By Application (Imaging and Lighting, Satellite, Electronics & Semiconductors, Medical, and others) and Regional Forecast, 2021-2028.” As per the analysis, the market value stood at USD 200.94 million in 2020 and is expected to register a CAGR of 1.8% from 2021 to 2028.


OneWeb Satellites to Focus on Providing Affordable Internet Services


In February 2019, OneWeb Satellites, a joint venture between OneWeb and Airbus, announced the successful launch of six of its spacecraft into low earth orbit. The company is planning to launch up to 900 more satellites. Through these projects, it is aiming at providing affordable internet networks for rural and underdeveloped locations. The low-power proportional system integrated into OneWeb’s satellites is built by Airbus. The system features additional innovative electronics and propellant systems and xenon HETs.


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


https://www.fortunebusinessinsights.com/xenon-market-101965


Increasing Demand for Consumer Electronics Devices to Drive Growth


The increasing demand for consumer electronics devices is estimated to drive the xenon market growth. Rising dependence on electronic devices, such as wearables, smartphones, televisions, gaming devices, and others, for utility and entertainment purposes, is predicted to boost their demand in the upcoming years. For instance, as per the data presented by the International Data Corporation (IDC), the market for Virtual Reality (VR) headsets is predicted to record 81.2 million unit sales by 2021. Semiconductors integrated into these devices are manufactured using xenon. Hence, the increasing production of consumer electronics will boost the demand.


SMEs to Focus on Semiconductors in Order to Expand their Businesses


Key players operating in this market have prioritized their focus on providing sufficient supply to public and private space agencies, which are the biggest buyers of the product. In addition to this, small and medium enterprises are focusing on expanding their businesses through the semiconductors industry. Meanwhile, a significant group of corporations is embarking on research and development activities in order to explore new applications of the noble gas.


Further Report Findings:



  • Based on the application, the satellite segment is projected to dominate the market owing to the rapidly expanding landscape of space travel driven by the surging number of satellite launches. The segment held a major share in 2020. On the other hand, the imaging and lighting segment is expected to showcase significant growth backed by the flourishing demand for flash lamps and tubes. The segment secured a total share of 22.5% in 2020.

  • Based on the region, the rapidly shaping space programs in countries including China, India, and Japan are projected to expand the xenon market share in Asia Pacific. In addition, the increasing production and sales of consumer durables in the region are predicted to further enhance the growth. It stood at USD 73.38 million in terms of revenue in 2020.


Industry Development-



  • July 2017: Linde plc, a multinational chemical company, expanded its production capacity in New Jersey, USA. The expanded unit is built primarily for the production of xenon. This will help the company meet the exceeding demand for the gas from the semiconductor industry in the region.


List of Key Players Covered in this Market Report:



  • 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)


Table of Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



   2017-2028



Base Year



   2020



Forecast Period



   2021-2028



Historical Period



  2017-2019



Unit



   Volume (Million Liters); Value (USD Million)



Segmentation



   By Type; By Application; and By Geography



By Type


 




  • N3

  • N4.5

  • N5



By Application


 




  • Imaging & Lighting

  • Satellites

  • Electronic & Semiconductors

  • Medical

  • Others



By Geography


 




  • North America (By Country)


    • U.S.

    • Canada

    • Mexico


  • Europe (By Country)


    • Germany

    • UK

    • 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 Middle East & Africa



Xenon Market
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