North America Xenon Gas Market Expected to Reach $103.8 Million by 2027

According to a new report published by Allied Market Research, titled, "North America Xenon Gas Market by grade, end-use industry, and country: North America opportunity analysis and industry forecast, 2024–2027,"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 gas is a colorless noble gas that has high reactivity as compared to other noble gas such as neon and krypton. Industrial grade xenon gas is the most widely used xenon gas grade in the market.

Industrial grade xenon is used as the best fuel and propellant in spacecraft and satellites. In addition, industrial grade xenon gas emits a bluish hue that is similar to the hue of daylight. Thus, xenon gas can be employed effectively in a variety of industrial applications, including airplane approach lights, vehicle incandescent bulbs, stage lighting, plasma display panels, internal examination lighting, and UV lasers. Photographic flashlights, stroboscopic lamps, motion picture projection high intensity arc-lamps, high-pressure arc lamps, and general anesthetic are some of the other industrial applications of xenon.

The medical industry also uses xenon gas, which is commonly utilized in nuclear magnetic resonance (NMR) spectroscopy. Electric propulsion systems are required for satellites and other spacecraft to travel through the orbit. Xenon is the most efficient fuel for electric propulsion systems. Ion thrusters are also created and used for a variety of space missions, including station-keeping, which entails keeping communication satellites in accurate orbit. Ion thrusters are also employed to drive spacecraft symmetrically across the solar system. Ion thrusters must deliver impulsive thrust while using propeller fluid economically. All these factors are driving the demand for North America xenon gas market. 

However, ingestion of xenon gas tends to cause cough, dizziness, itching, skin rashes, shortness of breath, and wheezing, which hampers the market growth. In addition, xenon gas-based HID lights costs more than traditional halogen lights. These factors may hamper the market growth.

On the contrary, Research grade xenon is a gaseous probe molecule used in the evaluation and analysis of protein and biomolecule chemistry. Xenon gas efficiently interacts with the hydrophobic core of proteins and other related biomolecules, owing to its high polarizability. Protein active sites and cavities serve as a conduit for substrate to reach their active sites. These active sites of proteins and associated biomolecules are identified using xenon gas. Furthermore, the simplicity of xenon gas as a probe material makes it excellent for use in theoretical and experimental research studies on ligand-protein binding. Thus, all these factors have escalated the demand for research grade xenon gas and is anticipated to offer lucrative growth opportunities.

The North America xenon gas market analysis is segmented on the basis of grade, end-use industry, and country.

By grade, the market is divided into industrial grade and research grade. The industrial grade segment is anticipated to grow at the fastest CAGR of 7.1% during the forecast period. Satellites and other spacecraft need electric propulsion systems to move across orbit. The most efficient fuel for electric propulsion systems is xenon. Ion thrusters are also developed and utilized for several space missions, such as station-keeping, which involves maintaining communication satellites at their precise position in orbit.

In addition, ion thrusters are used for propelling spacecraft symmetrically across the solar system. However, ion thrusters need to produce impulsive thrust using propeller fluid efficiently. Impulse thrust can also be produced by chemical propulsion; however, this process requires a high use of chemical propellants. The most common propellant in ion thrusters is xenon, owing to its high atomicity, which makes it easily ionizable.

The end-user industries covered in the report include semiconductor, electronics, automotive & transportation, aerospace & aircraft, and others. The aerospace and aircraft end-use industry accounted for major market share of 27% in 2023. Industrial grade xenon is used as optimum fuel and propellant in spacecrafts and satellites. In contrast to chemical propellant, xenon gas propellant allows thrusters to produce significant quantities of thrust while utilizing a smaller amount of fuel. The National Aeronautics and Space Administration (NASA) has developed a xenon-powered thruster. Currently, spacecraft and other space travel missions utilize the capabilities of the evolving xenon thruster known as NEXT.

NASA continues to research emerging innovations that enable commercial spaceflight missions and supports governmental & commercial key-players in the space industry. For instance, NASA intends to increase human presence and sustainability in other parts of the solar system, like the Moon and Mars. As part of its Solar Electric Propulsion (SEP) initiative, NASA is working on and developing new technologies to support space exploration activities and other space missions.

By country, the North America xenon gas market is analyzed across the U.S., Canada, and Mexico. The Canada showcased the fastest CAGR growth during the forecast period. 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. All these factors increase the demand for xenon gas across Canada.

Key players in North America xenon gas 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.

Key findings of the study

• By grade, the industrial grade is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.1% from 2024 to 2027.
• By end-use industry, the aerospace & aircraft end-user is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.5% from 2024 to 2027.
• By country, the Canada is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.7% from 2024 to 2027.