The global xenon difluoride market size is anticipated to be adjusted to...
The anticipated global xenon difluoride market size will be recalibrated to USD 10.42 million in 2021 and USD 15.18 million in 2028 throughout the projection period (2022-2028) due to the ongoing COVID-19 pandemic. It is projected to grow at a remarkable five-year compounded annual growth rate (CAGR) of 5.5%. Considering the economic impacts triggered by this health crisis, global xenon difluoride (XeF2) consumption is expected to ascend to 2515.11 kilograms in 2021 and reach 4959.67 kilograms in 2028, showcasing a significant 7.0% compound annual growth rate from 2022 to 2028.
By geography, Asia Pacific is predominantly shaping the global xenon difluoride (XeF2) market with a cumulative sales volume of 2,007.67 kg in 2021 and a formidable sales market share of 65.17%. Sales in North America and Europe approximated 350.26 kg and 644.17 kg respectively. Notably, China has the most impressive growth trajectory.
The three key regions of Asia Pacific, Europe, and North America are accountable for a significant 97.45% of the total global market. 5N grade xenon difluoride is the predominant product, commanding a greater than 84.74% share. Silicon etching process stands as the dominant application, contributing to a notable 78.04% share.
It should be noted that in 2022, the ongoing Russia-Ukraine conflict might significantly disrupt shipments of electronic specialty gases including xenon. Consequently, xenon difluoride manufacturers may face shortages of raw materials and reductions in shipments. Concurrently, prices across the industrial gas market are anticipated to surge to unparalleled highs in 2022. Nonetheless, as downstream demand gradually rebounds, its price is expected to seamlessly descend to a reasonable level during the estimated period.
The primary factors influencing the price trends are raw material prices and international political and economic circumstances.
