Krypton Gas Market to Record an Exponential CAGR by 2025
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Krypton gas as mentioned, for its primary use is in fluorescent lamps and lights is mixed with argon as a filler material so as to intensify the brightness of fluorescent tubes. Some other applications of Krypton gas are in flash lights and tubes and incandescent bulbs for the purpose of high-speed photography. For instance, in the automobile industry, many manufacturers offer headlights that work with krypton. Krypton gas is also used in halogen bulbs, gas discharge tubes and energy-saving bulbs in illuminated billboards or large hoardings, as a filler gas. When nitrogen or argon is replaced with Krypton in fluorescent lamps and halogen energy-saving lamps, it will increase bulb life and can create more efficient lighting. Additionally, radioactive Krypton-85 is utilized as a tracer in order to monitor surface reactions and some other applications are a lithographic fabrication of semiconductors and sterilization of fluids.
Krypton Gas Industry: Market Dynamics
The growing demand for energy efficient buildings infrastructure and lighting solutions, give rise to the higher demand for insulated glass windows and energy efficient electrics products are driving the market for the krypton gas. Additionally, factors such as growing industrialization, and growing demand for the noble gases in various sectors such as chemical, construction, oil & gas, mining, agriculture, can be considered as the drivers of the krypton gas market. This is owing to the increasing awareness towards the safety and rising health concerns. However, fluctuating prices, which is due to the economic instability joined with the utilization of other gases, and the threat of being replaced by its substitutes are some of the major restraints of the market. On the other hand, the creation of new technologies related to the use of krypton gas, across the globe is projected to generate new opportunities for the krypton gas market. Applications in automotive industry is also expected to enable the growth of Krypton gas market in a significant manner.
Asia Pacific region overlooked the market and also estimated for a significant share of the Krypton gas market in 2017. Major countries of the region such as China, India, and Japan are expected to the primary consumers of industrial gases such as krypton gas. Some factors such as growing agriculture, extending construction, and chemical industry in the region are the major drivers of this industry. North America is anticipated to be the second largest region for the Krypton gas market followed by Europe, in terms of market share. These regions are projected to dominate the market of Krypton gas over the period of forecast. On the other hand, Latin America and the Middle East and Africa, both the regions are expected to have a significant rate of growth over the forecast period.
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Krypton Gas Market: Market Participants
Examples of some of the market participants in the Krypton Gas market identified across the value chain are Air Products and Chemicals, Inc., AIR WATER INC., Praxair Technology, Inc., BASF SE, The Linde Group, Ice blick, Gulf Cryo, Nanjing Special Gas, Shengying Gas, Proton Gases, RasGas Company Limited, Taiyo Nippon Sanso Corporation, Messer Group, Universal Industrial Gases, Inc., etc.
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