Press release
Xenon Gas Market Estimated to Flourish by 2025
As the world economy continues to prosper, the demand for xenon gas is burgeoning. Many applications for xenon gas are showing significant growth. Xenon gas is the byproduct of large scale oxygen production and thus, supply of xenon gas is driven by the demand in the oxygen markets. Demand for the window insulations, lightning and satellite markets are primarily responsible for the significant growth of global xenon gas market. The environmental regulations in the countries of Europe require energy efficient windows, and xenon gas is one of the rare gas used in the manufacture of windows. Xenon gas is a key component in the manufacturing of high-intensity discharge automotive headlamps. The latest application for xenon gas is in electronic chip manufacturing and is presently the most significant reason for xenon gas demand growth. Aforementioned, applications are foreseen to boost the global xenon gas market during the forthcoming years.
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The amount of xenon gas in the atmosphere is limited. Demand for this rare gas in increasing rapidly, but due to limited availability supply is always in shortage. Furthermore, high-cost associated with the production of xenon gas slows down the market growth.
Xenon gas is experiencing a sharp rise in demand from semiconductors application. This makes Asia Pacific a major market for xenon gas, countries in the region such as Japan, South Korea, China, India, etc. which have established manufacturing hubs for consumer electronics are anticipated to be the major contributor to the growth of the market. Followed by Asia Pacific, North America and Europe region collectively are anticipated to hold dominant share of the global demand for xenon gas. However, the markets in both of the regions are anticipated to witness moderate to slow growth over the forecast period.
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