Krypton Market Size to Reach USD 13.51 Million by 2026

The global krypton market size is estimated to reach USD 13.51 million by 2026, thereby exhibiting a CAGR of 0.96% over the forecast period. However, the market stood at USD 12.50 million in 2018. This information is provided by Fortune Business Insights(TM) in a recently published report, titled, "Krypton Market Size, Share & Industry Analysis, By Application (Lighting, Windows, Laser, R&D and Others), and Regional Forecast, 2019-2026." As per the report, krypton is a noble gas element that is extensively used in glazing and thermal insulation windows. The element is tasteless, non-toxic, odorless, colorless, and chemically inert.

What Does This Report Contain?
o In-depth information about the krypton market trends, opportunities, challenges, growth drivers, and obstacles.
o List of all the possible segments present in the market.
o Comprehensive analysis of the significant strategies adopted by key businesses.
o Brief details regarding the important industry developments, namely, new contracts, agreements, strategic collaborations, mergers and acquisitions, and novel product launches.

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Increasing Demand for Energy-efficient Windows to Fuel Growth

Krypton is mainly used in the triple glazed and high-end double windows. It offers a highly superior acoustic, as well as thermal insulation. It is very expensive in nature as compared to argon. In the glazing windows market, krypton is one of the leading elements. Besides, the ever-increasing demand for energy-efficient and high performance windows is set to propel the krypton market growth during the forthcoming period.

Windows equipped with krypton are capable of absorbing low-temperature in summers and retaining high-temperature in winters.

List of the most prominent companies operating in the krypton market. They are as follows:
o Messer Group GmbH
o Air Liquide
o Matheson Tri-Gas, Inc.
o Linde plc
o Iceblick Ltd.
o Air Products & Chemicals, Inc.
o Electronic Fluorocarbons, LLC
o Proton Gases (India) Pvt. Ltd.
o Air Water Inc.
o Akela-p Medical Gases P. Ltd.
o Coregas Pty Ltd.
o American Gas Products (AGP LLC)
o Other key market players

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High Demand from Construction & Semiconductor Industry to Favor Growth in Asia Pacific

In terms of region, the market is fragmented into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Out of these, at present, Asia Pacific dominates the market on account of the rising demand from the semiconductor and construction industry. China is anticipated to exhibit increasing urbanization in the coming years, which in turn, would create lucrative growth opportunities. Additionally, the region houses a well-established electronics and semiconductor industry.

Coupled with this, the rapid economic developments in the emerging countries in this region would augment growth.

North America, on the other hand, had acquired USD 3.57 million krypton market share in 2018 and is set to showcase significant growth backed by the increasing government initiatives to promote green and energy-efficient buildings. Also, the booming construction industry in this region would boost growth. The U.S. government, for instance, put forward a tax-saving program that have helped in upsurging the demand for high-performance krypton filled windows. In Europe, the demand of krypton is led by the windows segment. The masses residing in this region use krypton 3.0 window grade. Apart from that, the rising demand for laser and research applications would propel growth in this region.

Air Water Constructs New Facility While Messer Invests EUR33 Million in New Plant

The market consists of numerous reputed organizations that are investing huge sums in the development of new gas producing facilities and plants across the world. Their main focus is on gaining the maximum krypton market revenue and broadening their consumer bases.

Below are the key industry developments:
o August 2018: Air Water, a chemical company based in Japan, announced that it is planning to construct a new facility to expand the considerable sales and supply of rare gases, such as krypton and xenon. The facility would aid the company in producing these gases in the cryogenic air separation unit (ASU) that has been under operation in Kobe Steel's Kakogawa Plant. At present, the company is importing neon and is procuring krypton from domestic sources. However, it has begun producing xenon at its Kagoshima Plant while importing it in only a small quantity.

o August 2015: The Messer Group GmbH, a supplier of industrial gases, headquartered in Germany, declared that is has invested approximately EUR33 million in a brand new plant in the Jiangsu province. The plant would produce specialty gases for the electronics industry, especially for the development of photovoltaic equipment, LEDs, semiconductors, and flat screens. It will also have an additional filling station and will pose as a logistics and production center for Messer in China.

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This release was published on openPR.