North America Xenon Gas Market Outlook- 2027
The North America xenon gas market was valued at $79.3 million in 2023 and is estimated to reach $103.8 million by 2027, exhibiting a CAGR of 7.0% from 2024 to 2027.
Xenon (Xe) is a chemical compound that is also considered to be a rare gas. Xenon gas is odorless, colorless, tasteless, and chemically unreactive gas. Xenon gas is produced in small scale by fractional distillation of liquid air. Other chemical properties of xenon gas include low volatility and quick ionizability. The major applications of xenon gas are in the lightning industry such as flashlight, automotive lights, and high speed photography lights.
Xenon gas has minimal commercial applications, such as photographic flash lamps, stroboscopic lamps, and high-intensity arc-lamps. Other uses of xenon gas include general anesthetic, automotive fog lights, and other approach lights in the aerospace end-use industry. In addition, use of xenon gas in gas discharge lamps escalates the growth of the market. Light-emitting devices generate coherent light by using xenon gas. Other applications of xenon gas include bactericidal lamps and motion picture projection high intensity arc-lamps. These factors altogether boost the growth of North America xenon gas market.
However, health risk associated with inhalation and minimal production of xenon gas hamper the market growth. Health associated risk with ingestion and inhalation of xenon gas include cough, dizziness, itching, skin rashes, and shortness of breath, and wheezing, which hamper the market growth. Conversely, rise in demand for xenon gas in the semiconductor end-use industry offers lucrative growth opportunities for the xenon gas market.
On the contrary, the popularity of huge flat-screen televisions and other entertainment devices drives the demand for xenon gas. Excimer lasers are used in televisions to generate broad laser beams with wavelengths that correspond to UV rays. Thus, the xenon gas market is driven by rise in use of excimer laser. Furthermore, the usage of xenon gas in the production of plasma displays supports the market growth. Polycrystalline silicon thin film transistors are another xenon gas user. Xenon lasers are a form of excimer laser (ultraviolet laser) utilized in the manufacturing of microelectronic devices. Photolithography is a technological process that employs a light source to create small patterned thin films on other substrates, like silicon wafers. All these factors are anticipated to offer new growth opportunities for North America xenon gas market.
The North America xenon gas market is segmented on the basis of grade, end-use industry, and country. On the basis of grade, it is fragmented into industrial grade and research grade. On the basis of end-use industry, it is segmented into semiconductors, electronics, automotive & transportation, aerospace & aircraft, and others. The countries covered in the report includes U.S., Canada, and Mexico.
XX is projected as the fastest growing segment
The industrial grade is the largest revenue generator during the forecast period and accounted for 66% of the North America xenon gas market share in 2023. Industrial grade xenon is used as optimum fuel and propellant in spacecrafts and satellites. High light spectrum of xenon gas naturally emits bluish hue and this hue is considered like daylight hue. Thus, xenon gas can be effectively used across industrial applications such as approach lights in airplanes, automotive incandescent bulbs, stage lighting, plasma display panels, internal examination lighting, and UV lasers. Other industrial use of xenon include photographic flash lamps, stroboscopic lamps, motion picture projection high intensity arc-lamps, high-pressure arc lamps, and general anesthetic. The medical industry is also a consumer of xenon gas and is widely used in the nuclear magnetic resonance (NMR) spectroscopy.
By End-use Industry
XX is the most lucrative segment
In 2023, the aerospace & aircraft end-user was the largest revenue generator, and is anticipated to grow at a fastest CAGR of 7.5% during the forecast period. In spacecrafts and satellites, xenon gas is employed as the best fuel and propellant. Electric propulsion systems are required for satellites and other spacecraft to travel through the orbit. Xenon gas is the most efficient fuel for electric propulsion systems. Ion thrusters are used for a variety of space missions, including station-keeping, which entails keeping communication satellites in the accurate orbit. Ion thrusters are also employed to push spacecraft across the solar system in a symmetrical manner. Ion thrusters must deliver impulsive thrust while using propeller fluid economically. Chemical propulsion can also provide impulse thrust; however, this approach requires a large amount of chemical propellants. Xenon gas is the most commonly used fuel in ion thrusters, owing to its high atomicity, which makes it easily ionizable.
XX is projected as the fastest growing segment
In 2023, the U.S. was the largest revenue generator and is anticipated to grow at a CAGR of 6.8% during the forecast period. Xenon gas is the key component that is primarily used in the production of halogen and high-intensity discharge (HID) headlamps. It can also be utilized in the production of automotive parts. For instance, lasers that are used to accurately cut car parts use xenon gas. Durable and energy efficient automotive lighting innovations include HID and LED lamps. Xenon gas is the prime product used during the production of HID and LED automotive headlights. Use of xenon gas-based HID automotive bulbs over other lights such as halogen lights is the key market trend. Xenon gas-based HID bulbs tend to generate high light intensity as compared to halogen bulbs. In addition, halogen bulb uses filament that help generate light source. All these factors have escalated the demand for Xenon gas across U.S.
The major companies profiled in this report include Linde plc, Middlesex Gases, Electronic Fluorocarbons LLC, Air Liquide, Messer Canada Inc., Nova Gas Technologies, American Gas Products, Air Products and Chemicals Inc., Isoflex USA, and WestAir Gases and Equipment Inc.
Report Key Highlighters
- The report provides competitive dynamics by evaluating business segments, product portfolios, target market revenue, geographical presence and key strategic developments by prominent manufacturers.
- The North America xenon gas market is consolidated in nature among prominent companies such as Linde plc, Middlesex Gases, Air Liquide, Messer Canada Inc., Nova Gas Technologies, and American Gas Products.
- The study contains qualitative information such as the market dynamics (drivers, restraints, challenges, and opportunities), public policy analysis, pricing analysis, customer analysis, and Porter’s Five Force Analysis across North America.
- Latest trends in the North America xenon gas market such as manufacturer’s capacity, ongoing R&D, and government initiatives are analyzed.
- More than 2,700 Xenon gas-related product literatures, industry releases, annual reports, and other such documents of key industry participants along with authentic industry journals and government websites have been reviewed for generating high-value industry insights for the North America xenon gas market.
Key benefits for stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current North America xenon gas market trends and future estimations from 2023 to 2027 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
North America Xenon Gas Market Report Highlights
By End-Use Industry
Key Market Players
WestAir Gases and Equipment Inc, American Gas Products, Linde plc, Middlesex Gases, Messer Cananda Inc, Electronic Fluorocarbons LLC, Air Products and Chemicals Inc., Air Liquide, Nova Gas Technologies, Isoflex USA
The North America xenon gas market is expected to exhibit high growth potential owing to its use in electronics, automotive, and dark matter research. Consumer preference for large flat screen TVs and other entertainment gadgets increases the demand for xenon gas. Excimer lasers are used across TVs to generate wide laser beams that have wavelength corresponding with UV rays. Xenon gas mixture is used in these excimer lasers, which drives the growth of the market.
Durable and energy efficient automotive lighting innovations include HID and LED lamps. Xenon gas is the prime product used during the production of HID and LED automotive headlights. Use of xenon gas-based HID automotive bulbs over other such as halogen lights is the key market trend. Xenon gas-based HID bulbs tend to generate high light intensity as compared to halogen bulbs. In addition, halogen bulb uses filament that help generate light source. However, this type of bulb tends to generate high intensity of heat in the bulbs and results in frequent failure of filament. On the other hand, xenon gas-based HID bulbs do not contain filament and HID bulbs works on the principle of gas discharge.
Xenon HID bulbs are proven to offer intensity up to three times higher than halogen bulbs. Research grade xenon is a probe gaseous molecule that is used during examination and study of proteins and biomolecules chemistry. Xenon gas tends to interact easily with hydrophobic core of protein and other related biomolecule owing to its high polarizability. Protein active sites and cavities are the pathway that help substrate to reach their respective active sites. Xenon gas is used to identify these active sites of proteins and related biomolecules. In addition, simplistic nature of xenon gas as a probe material make it suitable to be used during theoretically and experimental research studies on ligand-protein binding.