7C-i 

APPENDIX 7C. XENON AVAILABILITY AND PRICING 

TABLE OF CONTENTS 

7C.1 INTRODUCTION ........................................................................................................ 7C-1

7C.2 SUPPLY ........................................................................................................................ 7C-1

7C.2.1 Key Players ...................................................................................................7C-2

7C.2.1.1 Praxair ...............................................................................................7C-2

7C.2.1.2 Air Liquide ........................................................................................7C-2

7C.2.1.3 Linde .................................................................................................7C-3

7C.2.1.4 Iceblick ..............................................................................................7C-3

7C.2.2 Applications ..................................................................................................7C-3

7C.2.2.1 Lighting Industry ...............................................................................7C-3

7C.2.2.2 Medical Applications ........................................................................7C-4

7C.2.2.3 Space Industry ...................................................................................7C-4

7C.2.2.4 Semiconductor Industry ....................................................................7C-4

7C.3 PRICE ........................................................................................................................... 7C-5

7C.4 IMPACT OF STANDARDS ........................................................................................ 7C-6

REFERENCES ......................................................................................................................... 7C-8

LIST OF FIGURES 

Figure 7C.2.1 Xenon Market Share by Key Supplier ................................................................7C-2

Figure 7C.3.1 Xenon Supply and Demand ................................................................................7C-6
7C-1

APPENDIX 7C. XENON AVAILABILITY AND PRICING 

7C.1 INTRODUCTION 

The U.S. Department of Energy (DOE) has identified higher efficiency inert fill gas as a 

technology option that can be used to increase the efficacy of incandescent reflector lamps 

(IRLs). (See chapter 3 of this preliminary technical support document [TSD].) The low thermal 

conductivity of higher efficiency inert fill gases allows the lamp to operate at higher 

temperatures, increasing lamp efficacy. Further, the gases’ large mass slows the evaporation of 

tungsten, lengthening lamp lifetime. 

The price of xenon has fluctuated considerably in past years and, although the price has 

recently been stable, the demand of xenon is expected to increase while supply remains limited. 

Therefore, DOE has conducted an in-depth market assessment of the supply of xenon and 

analyzed the potential impact of xenon supply limitations on IRL standard levels. DOE also 

conducted a life-cycle cost (LCC) sensitivity analysis to determine the impact of higher xenon 

prices on the consumer. DOE determined that the supply of xenon is sufficiently large and will 

not affect IRL product availability, and therefore has maintained the use of xenon as a design 

option. This appendix reflects DOE’s preliminary findings. 

7C.2 SUPPLY 

Xenon is one of three rare gases (along with neon and krypton) produced by cryogenic air 

separation. Given the low concentration of the rare gases in the air (neon 0.0018 percent by 

volume, krypton 0.00011 percent by volume, and xenon 0.000087 percent by volume), the only 

cost-effective recovery option is a large air separation unit (ASU). ASU xenon recovery is an 

inherently costly process due to the low volume content of xenon in air. The lower the 

concentration, the greater the purification cost per liter of rare gas. In February 2012, CryoGas 

reported that world production of xenon was roughly 11 million liters in the previous year (2011) 

and approximated it to be 10.5 million liters as of early 2012.1 Most worldwide supply is met by 

the four largest industrial gas companies: Praxair, Inc. (Praxair), Air Liquide, The Linde Group 

(Linde), and Iceblick, Ltd. (Iceblick). Together these four companies control about 75 percent of 

global rare gas sales. The remaining 25 percent is from various steel mills and industrial gas 

companies in Russia and China. Figure 7C.2.1 displays the xenon production relative market 

share of the four main companies. 
7C-2

Figure 7C.2.1 Xenon Market Share by Key Supplier 

Source: Betzendahl Gas Consultant LLC, February 2012 

The supply of global rare gases has been generally constant in recent years. The small 

amount of new production capacity growth has been mainly concentrated in China. Eastern 

Europe is the largest producer of a crude krypton-xenon gas mixture (hereafter “Kr/Xe”), with an 

estimated 33 million liters produced yearly.2 Xenon comprises 10 percent of Kr/Xe.3Together, 

China and the Pacific Rim are the second largest producer of Kr/Xe worldwide, roughly 70 

percent of which is in China, a region where continued growth of ASU projects is expected.a

7C.2.1 Key Players 

7C.2.1.1 Praxair 

 With 26,000 employees and operations in more than 50 countries, Praxair posted annual 

sales of $11.25 billion in 2011, an 11 percent increase over 2010 sales.4 Within Praxair’s 

industrial gases business, its primary products are atmospheric gases (argon, nitrogen, oxygen, 

rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty 

gases, acetylene). Praxair is also one of the four major industrial gas companies and a significant 

supplier of xenon. A 2011 report estimated that the United States was producing roughly 13 

million liters of crude Kr/Xe; Praxair controlled 85 percent of total U.S. production.5

7C.2.1.2 Air Liquide 

With more than 46,200 employees in 80 countries, Air Liquide reported revenues totaling 

14.5 billion euros in 2011, an increase of over 7 percent from 2010. The gas and services group 

of the company is responsible for about 86 percent of the total 2011 revenue with group revenue 

of around 12.8 billion euros in 2011.6 Besides manufacturing industrial grade xenon, Air Liquide 

supplies medical gases (oxygen, nitrous, oxide, nitric oxide, xenon, etc.) to hospitals and clinics 

worldwide and continues to invest in research and development for new medical applications. In 

a March 2011 report, it was estimated that Western Europe produces around 19 million liters of 

crude Kr/Xe,7and nearly 100 percent of this production was under control by Air Liquide and 

 

a

 Note: Crude Kr/Xe is a rare gas mixture that is a byproduct of ASU processes. 
7C-3

Linde. The report also estimated that total production in the Middle East and South Africa of 

crude Kr/Xe was roughly 15 million liters. In a joint venture with Sasol, Air Liquide produced 

nearly 10 million liters of crude Kr/Xe from a coal gasification plant in South Africa, about 30 

percent of which was xenon. 

7C.2.1.3 Linde 

Based in Germany, Linde has approximately 50,500 employees working in over 100 

countries. In 2011, Linde achieved sales of nearly 13.8 billion euros, an increase of just over 7 

percent from 2010.8

 Linde supplies a large range of compressed and liquefied gases on the 

international market to a variety of industries. Linde has continued investing in medical gas 

solutions research and development as part of their rapidly expanding healthcare business. Linde 

also is a major manufacturer of xenon and is the only one of the four major suppliers that is 

adding significant production capacity, with much of the production capacity growth to be in 

China.9 10

7C.2.1.4 Iceblick 

Iceblick is a collaboration of companies in Kazakhstan, Russia, Ukraine, and the United 

States. Asserting themselves as a global market leader for gas products, Iceblick produces about 

60 percent of the world’s supply of neon and over 20 percent of global krypton and xenon.11 It 

obtains its raw materials from chemical companies based in Russia, Ukraine, Kazakhstan, and 

Romania. Iceblick sources raw material from local industries and purifies the gases to sell the gas 

products to their corporate consumers, which are predominantly industrial gas companies but 

also include the laser, electronic, lighting, and medical industries. According to a March 2011 

report by CryoGas, Eastern Europe is the largest supplier of crude Kr/Xe with a total production 

of approximately 33 million liters per year.12 Iceblick controlled 70 percent of this total 

production. Iceblick is also the second biggest global producer of high purity xenon.13

7C.2.2 Applications 

 Xenon applications include lighting, the medical industry, the space industry, and the 

electronics industry, which are described in more detail in the following sections. 

7C.2.2.1 Lighting Industry 

One of the most common applications for rare gases, in particular krypton and xenon, is 

lighting. Using xenon as a fill gas in incandescent lamps increases the life of the filament and 

slows down its progressive deterioration, thereby increasing the lamp’s efficacy.14 Xenon is also 

used in neon tubes for signage applications. In the automotive industry, xenon-filled headlights 

are used as a less expensive substitution for high-intensity discharge (HID) lamps and comply 

with federal legislation on vehicle safety.15 Additional lighting applications of xenon include 

pulse light sources, ultraviolet lamps, and X-ray lamps. 

Demand for xenon in the lighting industry may be greater in the next few years. 

Incandescent light bulbs will be phased out by federal regulations in 2014. Replacement options 

include compact fluorescent lamps (CFLs), halogen incandescent lamps, or light-emitting diodes 
7C-4

(LEDs). CFLs and halogen incandescent lamps both use rare gases. Fluorescents use krypton and 

xenon, while halogen incandescent lamps use xenon.16 LED production also uses a large amount 

of gases, however, not krypton or xenon.17

7C.2.2.2 Medical Applications 

 Xenon’s anesthetic properties were first discovered in 1939, though it was not used as a 

medical anesthetic until 1951.18 Its use as an anesthetic had been largely forgotten until about 

1990, mainly because of the high cost.19 Since that time, there has been a large amount of 

research devoted to analyzing the pros and cons of using xenon. The first large-scale study that 

evaluated the use of xenon anesthesia in humans concluded that xenon is at least equivalent to 

nitrous oxide-isoflurane in efficacy and safety.20 Compared to nitrous oxide, xenon’s other 

benefits include a faster recovery time and environmental friendliness. High cost is the only 

obstacle prohibiting xenon from widespread use as an anesthetic. Currently, xenon recovery in 

medical applications is necessary for xenon to remain cost-effective. 

 Besides its use in anesthesia, xenon is also used in the medical industry to enhance 

imaging in X-rays, computer axial tomography (CAT) scans, and magnetic resonance images 

(MRIs). Xenon makes it possible to obtain better X-rays with reduced amounts of radiation. 

Additionally, when mixed with oxygen, xenon enhances contrast in computed tomography (CT) 

imaging and can be used to determine blood flow.21

 Demand for xenon for use in medical lasers has continued to grow, even during the 

recession.22 The growth in laser applications is mainly due to heightened demand in medical 

markets, which have experienced strong growth as a whole on a global scale.23 Ultraviolet and 

excimer lasers (for eye surgery) utilize xenon and are the fastest growing segment of the laser 

industry.24 More recently, there has been increased research into using medical gases, including 

xenon, in the field of neurobiology to exploit their potentially therapeutic use on a variety of 

brain diseases.25

7C.2.2.3 Space Industry 

 Xenon is used in the space industry for ion engines and ion plasma thrusters for satellites. 

Ion engines depend on electrically charged atoms to generate thrust. While not as powerful, they 

are ten times more efficient than alternative chemical propulsion systems. Using xenon reduces 

the required propellant mass by up to 90 percent, thereby reducing launch costs due to a lighter 

spacecraft.26 Newer satellites use xenon ion propulsion systems, which usually have four ion 

engines, for repositioning. Xenon is well suited for this application because it is easy to ionize, 

has a high density, and low heat capacity. In addition, its high molecular weight boosts the 

satellites impulse performance.27 The global satellite industry grew 5 percent in 2011,28 with 

future growth of this market continuing to increase as satellite programs grow worldwide.

7C.2.2.4 Semiconductor Industry 

Xenon gas mixtures are used in plasma display panels (PDPs) and televisions to improve 

luminescence, performance, and energy use.

29 PDPs are commonly used for large TV screens 
7C-5

and compete directly with liquid crystal displays (LCDs). In PDP technology, xenon and neon 

gas is contained in many tiny cells between two glass plates. Electrically charging the electrodes, 

which are installed between the glass plates, ionizes the gas and forms plasma. Photons emitted 

by the plasma excite the phosphors coating the back of each cell, emitting colored light.30 Thus, 

the operation of each cell is similar to that of a fluorescent lamp. The flat panel plasma TV 

market share is expected to decrease to roughly 5 percent in 2012 and to keep declining in future 

years. LCD and LED panels will continue to gain market share.31 An organic light-emitting 

diode (OLED) flat panel display is a more recent technology than LED flat panels and does not 

require a back light. Active matrix OLED (AMOLED) displays used in cellular phones and TVs 

are experiencing rapid market growth, especially in smart phones, with 90 million units sold in 

2011, a 97 percent increase from 2010.32 Their share of the market is expected to continue to 

increase rapidly in the next few years. While AMOLED technology does not use large amounts 

of xenon, if its popularity continues to increase as projected, the amount of xenon required could 

become significant.33

 Xenon is also used in electronic chip manufacturing. Companies utilize xenon plasma 

etching to manufacture micro-electro-mechanical systems (MEMS).34 Demand from the 

electronics industry increased from under one million liters of xenon per year to almost three 

million liters per year prior to the 2008 recession. However, it decreased back down to one 

million between 2008 and the end of 2009 due to the recession.35 Air Products, an industrial gas 

company, introduced a xenon recovery system for the semiconductor and MEMS industries in 

2009.

36 Air Products subsequently developed two additional systems: one for larger volumes and 

one for higher concentrations. The latter system is useful for applications, such as lighting, where 

the xenon is available in high concentrations. The xenon recovery technology uses vacuum 

swing absorption to extract xenon from process effluent streams. A mixture containing high 

levels of xenon is recovered and sent offsite for distillation once storage vessels are full. Air 

Products estimates customers could save up to 67 percent on the cost of xenon.37

7C.3 PRICE 

Xenon pricing is affected by supply and demand dynamics, which are impacted by global 

production capacity, as well as the trends in the markets or industries they serve. As seen in 

Figure 7C.3.1, xenon demand has been on a steady rise since its lowest point at the end of 2009. 

The price for xenon fell roughly 75 percent from its 2008 peak of about $25 per liter to about $7 

per liter in 2010, for large users.38 The price of xenon is highly dependent on demand for the 

major applications previously discussed in section 7C.2.2. As the world economy turned positive 

in early 2010, the demand for rare gases began to grow. Xenon prices stabilized in early 2010 

and demand for the rare gas started to rise. Between March 2010 and March 2011, xenon 

demand rose by roughly 15 to 20 percent (see Figure 7C.3.1), driven by growth in the lighting 

and satellite markets.39 Xenon demand is predicted to continue to increase, driven by the 

applications described in section 7C.2.
7C-6

Figure 7C.3.1 Xenon Supply and Demand 

Source: Betzendahl Gas Consultant LLC, March 2011 

Figure 7C.3.1 tracks and forecasts xenon supply and demand (as of March 2011 with 

forecasts to June 2011).40 As previously mentioned, global production of xenon was around 11

million liters in 2011. According to the 2012 CryoGas report, the global rare gas market is 

around $250 million and is expected to keep growing even though worldwide net production of 

xenon is predicted to remain fairly flat through 2012. Without any significant new production, 

along with the decommissioning of old plants and a slight demand increase in the 

aforementioned key application areas, price increases are expected. Because the increase in 

xenon demand from 2010 to 2011 was not that significant, xenon prices are expected to remain 

fairly stable through 2012. However, demand for xenon is projected to increase in some of its 

main application areas, such as lighting and satellites, which may lead to more dramatic price 

increases in 2013 and beyond.41

7C.4 IMPACT OF STANDARDS 

 DOE recognizes fluctuations in the price of xenon are possible. Therefore, DOE 

conducted a sensitivity analysis to address the potential increases in end-user lamp prices 

attributable to an increased price of xenon. DOE compared the LCC savings due to purchasing 

higher efficacy IRLs (as calculated in chapter 8 of this TSD) to LCC savings under scenarios 

with higher xenon prices. A more detailed description of DOE’s methodology and assumptions 

follows. 

 DOE performed an analysis to determine how much the price of xenon could increase 

before it negatively impacted LCC savings. DOE assumed that the cost of the lamp to the enduser would need to increase by at least the same amount as the LCC savings before the cost of 

xenon negatively impacted consumer savings. Because the LCC savings represent savings to the 

end-user, DOE divided LCC savings by the markup used in the manufacturer impact analysis of 
7C-7

the previous IRL energy conservation standards rulemaking to determine how much the xenon 

manufacturing cost would impact the end-user. 74 FR 34080 (July 14, 2009). DOE assumed that 

this cost increase would be attributable only to the increase in the cost of xenon. Through 

manufacturer interviews, DOE estimated the quantity of xenon that would be required to achieve 

the desired efficacy in an individual lamp. DOE determined the cost of xenon using the most 

recent publicly available xenon pricing data.42 Using this method, DOE was able to calculate 

how much the price of xenon could increase before it would negatively impact LCC savings. 

 DOE analyzed the effect of price on LCC savings, as discussed above, for candidate 

standard level (CSL) 1 in the commercial and residential sectors. For the 60 W PAR38 1,500-

hour improved halogen baseline lamp in the commercial sector, DOE concluded that the price of 

xenon could increase to over $258 per liter before it started to negatively impact LCC savings. 

The average price of xenon based on 2010 data is approximately $7 per liter; thus, the price 

could increase at least 36 times before the cost of manufacturing a lamp with higher efficiency 

inert fill gas such as xenon would outweigh the efficacy benefits. For the 60 W PAR38 1,500-

hour improved halogen baseline lamp in the residential sector, the price of xenon would have to 

exceed $183 per liter, an increase of more than 26 times, before negating LCC savings. For the 

60 W PAR38 3,000-hour halogen-infrared (HIR) baseline lamp, consumers face negative LCC 

savings in both the commercial and residential sectors. 

Based on the analysis above, DOE concludes that CSL 1 is achievable even with 

potential variability in xenon prices. DOE will continue to examine the impacts of xenon 

availability in relation to standards for IRLs during the course of this rulemaking. 
7C-8

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13 Ibid. 

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International. March 2011. (Last accessed January 9, 2013.) 

<http://bgcspecgas.com/media/b7896da26ea95008ffff86c47f000101.pdf> 

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CryoGas International, February 2012. (Last accessed January 9, 2013.) <http://www.cryogasdigital.com/cryogas/201202?pg=30#pg30>

42 Betzendahl, Richard. “The Rare Gases Market Recovers with Global Economies.” CryoGas 

International, March 2011. (Last accessed January 9, 2013.) 

<http://bgcspecgas.com/media/b7896da26ea95008ffff86c47f000101.pdf>