Krypton Gas Market Worth US$ 288.2 Mn by 2032 at a CAGR of 5.3%: FMI

According to future market insights (FMI), a new market analysis projects that the worldwide krypton gas market will grow at a 5.3% CAGR over the projected period and reach US$ 288.2 Mn by 2032.

Krypton is widely utilised in the construction sector due to its superior insulation and energy-saving properties in triple and double-paned luxury windows. It boosts the insulation factor and is used to fill gaps between panels in insulated glass assemblies.

Along with this, many companies are innovating new solutions for floor coating using krypton gas. The technology using krypton gas enables minimal construction downtime than the conventional coating system. It offers faster curing, less downtime, easy cleaning, and is cost-effective. Backed by these factors, sales of krypton gas are expected to remain high over the forecast period.

In addition to this, the consumption of krypton gas in the lighting industry is rising at a fast pace. Krypton ionization gives a strong white light that makes it excellent for flashbulbs, fluorescent lamps, airport runway lights, and lasers. For brighter light krypton gas is effective for indoor light applications. Increasing demand for brighter light in public infrastructure projects and commercial buildings will augment the growth in the market.

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"Rising demand for effective and decorative lighting in shopping malls, complexes and buildings is expected to create opportunities for growth in the market. In addition to this, growing usage of krypton gas in the automotive sector will continue pushing sales in the forthcoming years," says an FMI analyst.

Key Takeaways:
• Based on supply mode, sales of cylinders will increase at a 5.3% CAGR, accounting for 45.5% of the total market share in 2022.
• In terms of application, total demand in the lighting segment will command 41.6% of the total market share by 2032.
• Sales in the U.S. krypton gas market are slated to reach a valuation of US$ 36.1 Mn in 2022.
• Demand in the China krypton gas market is poised to increase at a 6% CAGR over the assessment period.

Competitive Landscape

Air Products & Chemicals Inc., Matheson Tri-Gas, Inc., BASF SE, Messer Group GmbH, American Gas Products, Air Liquide, The Linde Group., Air Water Inc., Taiyo Nippon Sanso Corporation, Axcel Gases are some of the leading players operating in the global krypton gas market.

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Key Segments Covered in Krypton Gas Industry Research

By Supply Mode:
• Cylinders
• Bulk & Micro Bulk
• Drum Tanks
• On-Site

By Application:
• Lighting
• Windows
• Lasers
• Others

By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia Pacific
• Rest of MEA

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.