The global krypton market size was valued at USD 57.86 million in 2023 and is projected to grow from USD 58.46 million in 2024 to USD 62.58 million by 2032, exhibiting a CAGR of 0.9% during the forecast period. Growing application in window glazing and space exploration will propel the market forward during the projected period, says Fortune Business Insights™, in its report titled “Krypton Market, 2025-2032."

In the manufacturing of insulated glass, krypton (Kr) gas is used to fill the spaces between glass panels, providing enhanced heat insulation and sound absorption. A greater volume of gas-filled space results in superior thermal protection, insulation, and soundproofing performance. The growing global demand for energy-efficient buildings is expected to drive market growth in the coming years. Additionally, krypton plays a crucial role in semiconductor excimer lasers. The expanding use of lasers in sectors such as semiconductors, healthcare, and defense is anticipated to further boost the demand for this rare gas in the near future.

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Segments:

By Type, N4.5 Segment to Gain Traction Over 2022-2029

Based on type, the market is trifurcated into N3, N4.5, and N5. The N4.5 segment is anticipated to witness substantial demand through 2029 led by increasing application in insulation of windows and glass façade panels in energy-efficient buildings. Meanwhile, the N5 segment will experience robust demand in aerospace thruster applications.

By Application, Window Insulation Segment to Capture Notable Share

In terms of application, the market is divided into lighting, laser, window insulation, and others. The window insulation segment is slated to capture the dominant market share, owing to demand for energy-efficient windows in green buildings. Meanwhile, the lighting segment will capture a prominent market share led by demand for Kr-filled lamps in various applications.

Report Coverage:

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into the regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Growing Application in Glazed Windows to Boost Market Potential

Krypton gas is primarily used in the manufacture of high-end double and triple glazed windows, which is driving the krypton market growth. It offers excellent thermal and acoustic insulation. It is more expensive than argon, which is the most common gas in the market. However, as the need for high-performance and energy-efficient windows grows, krypton is gaining traction. Glazed windows are seeing an increase in demand from countries with hot weather, such as the Middle East, to areas with cold weather such as Europe and other parts of the world. In the summer, these windows allow for low-temperature absorption, while in the winter, they allow for high-temperature retention, leading to significant cost savings pertaining to air conditioning.

Despite growing applications, the availability of alternatives could impact the market growth.