Increasing Demand for Energy-efficient Windows to Fuel Growth
Krypton is mainly used in the triple glazed and high-end double windows. It offers a highly superior acoustic, as well as thermal insulation. It is very expensive in nature as compared to argon. In the glazing windows market, Krypton is one of the leading elements. Besides, the ever-increasing demand for energy-efficient and high-performance windows is set to propel the Krypton Market growth during the forthcoming period. Windows equipped with Krypton are capable of absorbing low-temperature in summers and retaining high-temperature in winters.
The global Krypton market size is estimated to reach USD 13.51 million by 2026, thereby exhibiting a CAGR of 0.96% over the forecast period. However, the market stood at USD 12.50 million in 2018. This information is provided by Fortune Business Insights™ in a recently published report, titled, “Krypton Market Size, Share & Industry Analysis, By Application (Lighting, Windows, Laser, R&D and Others), and Regional Forecast, 2019-2026.” As per the report, Krypton is a noble gas element that is extensively used in glazing and thermal insulation windows. The element is tasteless, non-toxic, odorless, colorless, and chemically inert.
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List of the best companies operating in the Krypton Market research are as follows:
- Messer Group,
- Air Liquide,
- Matheson Tri-Gas,
- Air Products,
- Electronic Fluorocarbons,
- Air & Water, Inc.,
- Coregas Pty Ltd – a Wesfarmers company, etc
High Demand from Construction & Semiconductor Industry to Favor Growth in Asia Pacific
In terms of region, the market is fragmented into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Out of these, at present, Asia Pacific dominates the market on account of the rising demand from the semiconductor and construction industry. China is anticipated to exhibit increasing urbanization in the coming years, which in turn, would create lucrative growth opportunities. Additionally, the region houses a well-established electronics and semiconductor industry. Coupled with this, the rapid economic developments in the emerging countries in this region would augment growth.
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North America, on the other hand, had acquired USD 3.57 million Krypton Market share in 2018 and is set to showcase significant growth backed by the increasing government initiatives to promote green and energy-efficient buildings. Also, the booming construction industry in this region would boost growth. The U.S. government, for instance, put forward a tax-saving program that have helped in upsurging the demand for high-performance Krypton filled windows. In Europe, the demand of Krypton is led by the windows segment. The masses residing in this region use Krypton 3.0 window grade. Apart from that, the rising demand for laser and research applications would propel growth in this region.
Air Water Constructs New Facility While Messer Invests €33 Million in New Plant
The market consists of numerous reputed organizations that are investing huge sums in the development of new gas producing facilities and plants across the world. Their main focus is on gaining the maximum Krypton Market revenue and broadening their consumer bases.