Xenon Gas Market to Reach USD 270.5 Million at a CAGR of 5.2% through 2034 Amid Bolstering Usage in MRI Scanning Machines and High-power Lamps | Future Market Insights, Inc.

Global Xenon Gas Market Report 2024-2034: Aerospace & Aircraft Industry Emerges as the Leading Consumer, with Significant Usage in Satellite Propulsion. The healthcare industry, a sector witnessing exponential global investment, presents substantial market opportunities for xenon gas manufacturers.

/EIN News/ -- NEWARK, Del, July 30, 2024 (GLOBE NEWSWIRE) -- The estimated size of the global xenon gas market is projected to reach USD 162.9 million by 2024. Owing to several initiatives of key players in the industry, the competitive landscape is estimated to reach USD 270.5 million by 2034. Several lucrative prospects are likely to be created for the industry, which is estimated to help the ecosystem adhere to a moderate CAGR of 5.2% through the forecast period.

The ability of xenon gas to produce better imaging during medical scans is boosting its popularity in the healthcare sector. With the increasing demand for better diagnosis and accurate results, medical professionals are emphasizing precise diagnostic tools, fueling the popularity of xenon gas.

Technological developments in MRI scanning machines leverage the use of xenon gas. The strength of the signal can be improved with the effective use of such gases, driving its importance in the field.

Request Your Sample and Stay Ahead with Our Insightful Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-14580

The emergence of high-power lamps is anticipated to augment the market’s competitive landscape. To cater to the demand for better brightness and energy efficiency, leading manufacturers are extensively integrating xenon gas, fueling demand in the industry.

The augmentation of the automobile industry is responsible for the enlargement of the size of the global xenon gas market. The rising use of this gas in the headlights of vehicles is expected to drive demand.

With the varying uses of xenon in the aerospace industry, prospects for leading players are expected to increase. The growing aerospace industry is another key factor that boosts the growth of the competitive space.

What are the Key Opportunities to be Created in the Global Xenon Market?

Xenon is gaining popularity in a wide range of industries due to its multifunctional value. The application of xenon gas in the semiconductor and electronics industries will improve the demand in the market at a significant growth rate.

Xenon gas is widely used in the semiconductor sector for etching. It adds to the overall cost reduction of the project. Hence, demand for xenon-based barcode scanners and laser-operated sensors has increased.

Businesses are offering a broader market with better solutions and technological developments in industrial gas generation in end-use applications. Key players are investing considerably in research and development (R&D) to improve environmental friendliness and long-term production practices.

Companies can earn substantial momentum from customers by improving production technology, such as shorter production times and high-quality gas production, to match their on-site expectations.

Xenon gas is supplied in seamless steel or aluminum cylinders. These cylinders are lightweight and portable, making them excellent for a wide range of applications. Xenon gas can also be purchased as a liquid, making it easier to store and carry.

Key Takeaways from the Market Study

• The historical development of the industry adhered to a sluggish CAGR of 2.3%, whereas the forecast CAGR adheres to 5.2%.
• The projected market share of the Tier 1 category organizations by 2024 is between 20% and 30%.
• Owing to the growing memory chip production in the United States, demand in the country is set to adhere to 4.7% through the forecast period.
• Based on the supply mode segment, the cylinder category is expected to hold the dominant market share and expand at a CAGR of 4.2% through 2034.
• In terms of end-use industry, the aerospace and aircraft segment is projected to witness a CAGR of 3.6% through 2034.
  
  

“The expensive purification and extraction of xenon hinder the adoption of such processes, limiting the growth of the worldwide xenon gas market,” opines Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

What are the Factors Impeding the Growth of the Xenon Gas Market?

One of the major factors limiting the sales of xenon gas is its high cost. However, this cost can be offset by the longer lifespan of xenon lamps. In addition, the enhanced output of xenon lamps in vehicles can improve safety and visibility while driving at night.

Xenon is a rare gas present in a quantity of one part per 20 million in the Earth's atmosphere. Due to its scarcity, xenon is significantly more expensive as compared to lighter noble gases, also for the small quantities purchased.

The principal issues restricting the growth of the rare gas market globally are maintenance and installation expenses, therefore industrial gases are sometimes favoured over rare gases because of their reduced installation and maintenance costs.

Competition Outlook

The reach of Tier 1 organizations in the global landscape is greater, owing to the robust technological infrastructure of such firms. The expansion process of such organizations is likely to occur through several initiatives, including acquisitions, strategic partnerships, collaborations, and mergers.

The expansion of such large-scale firms hinders the prospects of smaller firms, thereby hampering the growth of Tier 2 firms. Pertaining to gain a sustainable competitive edge, new entrants and small-scale firms broaden by using innovation, franchising, exports, and many more.

The collective ecosystem of new entrants and leading players in the industry is projected to govern the growth of the competitive space. The following recent developments are prime examples that augment the size of the xenon gas market-

• In April 2023, Linde plc signed an agreement with Heidelberg Materials to collaboratively develop and operate a large-scale carbon capture and liquefaction facility. The move helped the firm expand operations in new verticals.
• In June 2024, Messer Group initiated a joint venture with SympH₂ony GmbH to provide effective solutions for easy transition to hydrogen-powered vehicle fleets.

Reach out to Sales to Secure Your Copy of the Report Now! https://www.futuremarketinsights.com/checkout/14580

Leading Xenon Gas Brands

• Air Liquide
• Linde plc
• Air Products and Chemicals, Inc.
• Messer Group
• Iceblick Ltd.
• Proton Gases (India) Pvt. Ltd.
• Coregas Pty Ltd.
• Matheson Tri-Gas, Inc.
• Electronic Fluorocarbons LLC
• American Gas Products (AGP LLC)
• RasGas Company Limited
• Bhuruka Gases Ltd.
• Buzwair Industrial Gases Factories
• Dubai Industrial Gases Co LLC
• Gulf Cryo Holding C.S.C.
• Iwatani Corporation
• Praxair, Inc.
• Taiyo Nippon Sanso Corporation
• Mitsui Chemicals, Inc.
• Showa Denko K.K.

Which is the Leading End-Use Industry in the Xenon Gas Market?

Aerospace & Aircraft to Account for a Significant Share in the Xenon Gas Market

On the back of its wide range of applications, xenon gas is extensively used in healthcare, aerospace and aircraft, automotive and transportation, and other industries. However, with the increasing use of xenon gas in satellite propulsion, aerospace & aircraft is the leading segment in the market.

Xenon gas is used to move a heavy spacecraft even with higher payload capacity, which is an important factor while designing a spacecraft. An increasing number of space missions and the growing trend of various nations achieving leadership positions in space will fuel the growth in the segment.

Key Segments of Market Report

By Supply Mode:

Based on supply mode, the industry is divided into cylinders, bulk and micro bulk, drum tanks, and on-site.

By End-use Industry:

A few end-use industries included in the report are healthcare, aerospace and aircraft, automotive and transportation, electrical and electronics, manufacturing processes, construction, and others.

By Region:

The industry is spread across North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.

Authored by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI's Extensive Coverage in the Chemicals & Materials Domain:

The global argon gas market size is estimated to be worth USD 241.3 million in 2024. It is anticipated to reach a value of USD 408.4 million by 2034. Sales are projected to rise at a CAGR of 5.4% over the forecast period between 2024 and 2034.

By 2034, the industrial gases market share has the potential to reach USD 158.19 billion, by assuming a pace of 7.80% over the forecast period.

The global demand for krypton gas 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 global neon gas market growth is anticipated to be worth USD 222.9 Million in 2022. With sales growing at a healthy 7% CAGR, the market valuation will reach USD 439.1 Million by 2032.

The production of plastic additive market is estimated to be valued at USD 45,595.6 million in 2024. There is an increase in the adoption of plastic additives as a replacement for conventional materials across diverse industries.

The global sales of cold flow improvers market are estimated to be valued at USD 980.8 Million by 2018 end and is expected to reach USD 1,544 Million by the end of 2027, while expanding at a CAGR of 5.2% over the forecast period.

The global ammonium phosphate market share is set to exhibit moderate growth at approximately 3.3% CAGR over the projection period.

The lead market demand is projected to register a CAGR of over 5% during the forecast period. Over the short term, the growing demand for lead-acid batteries globally is expected to drive market growth.

The global abrasive market size is valued at USD 53,622.9 million in 2024. The valuation is foreseen to reach USD 81,694.6 million by 2034.

The global biogas market is projected to be appraised to USD 147.08 billion by 2034, up from USD 79.84 billion in 2024. The market to advance at a CAGR of 6.30% from 2024 to 2034.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube