Argon Gas Market: By Gas Phase, By Grade, By Storage, Transportation & Distribution, By Mixture, By Function, By End-Use Industry, and By Region Forecast 2019-2030
Argon Gas Market size was valued at US$ 294.5 million in 2023, growing at a CAGR of 6.1% from 2024-2030. Argon is a colorless, odorless, and inert gas obtained by fractional distilling liquid air. Argon is one of the most used gases for shielding metals from oxidation during welding because of its sluggish reactivity. It's also used in the aerospace, aviation, and automobile industries, where it's utilized to weld parts and frames. Because argon gas has better thermal insulation qualities than air, it is one of the most commonly used gases for filling scuba diving dry suits. The properties and advantages of argon gas, such as its inert nature, low cost, non-toxic, non-flammability, colorlessness, and non-reactive nature even at severe temperatures, have helped it replace many other gases in the industry, increasing its demand in numerous industries.
Increase in urbanization, there has been an increase in spending on infrastructure development, which has increased manufacturing activity. Argon gas is widely utilized in metal fabrication, and the increase in manufacturing activity will boost the market's growth. Moreover, the argon gas industry is developing due to the increasing popularity of 3d-printed parts, components, and even whole systems. A prominent trend currently witnessed in the market is that large manufacturers are emphasizing and investing with local companies to produce technologically advanced equipment and expand their geographical presence.
Study Period
2024-2030Base Year
2023CAGR
6.1%Largest Market
Asia PacificFastest Growing Market
North America
A significant driver projected to fuel the growth of the worldwide argon gas market is increasing consumption and demand for argon gas from the expanding metal fabrication industry and growing industrialization, particularly in developing economies. Other factors projected to fuel the worldwide market expansion include the expanding need for electrical devices, the developing food and beverage sector, and rising energy demands. Also, revenue growth in the target market is predicted to be driven by technological innovation and the rising chemical end-use industry in developing and underdeveloped nations. However, high transportation costs due to rising fuel prices would stifle the expansion of the market.
The argon gas market in North America is likely to hold the highest revenue share in 2022, and it is predicted to increase rapidly in the following years. Due to rising demand for various industrial activities, such as welding and metal fabrication, steel manufacturing, electronics, automotive parts manufacturing, food preservation, and winemaking. Increased supply of argon gas in the food & beverage and healthcare industries across the Asia Pacific during the forecast period is likely to drive the market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 294.5 million |
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Market CAGR |
6.1% |
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By Gas Phase |
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By Grade |
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By End-user |
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By Region |
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The argon gas market size was valued at US$ 294.5 million in 2023 and is set to grow at a significant CAGR of 6.1% from 2024-2030.
Praxair Inc., AMCS Corporation, The Linde Group, Iwatani Corporation, Messer Group GmbH
North-America is the fastest-growing region in the market
| 1. Executive Summary |
| 2. Global Argon Gas Market Introduction |
| 2.1.Global Argon Gas Market - Taxonomy |
| 2.2.Global Argon Gas Market - Definitions |
| 2.2.1.Gas Phase |
| 2.2.2.Grade |
| 2.2.3.End Users |
| 2.2.4.Region |
| 3. Global Argon Gas Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Argon Gas Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Argon Gas Market By Gas Phase, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Liquid |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Gas |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Argon Gas Market By Grade, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Food Grade |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Industrial Grade |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Scientific Grade |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Argon Gas Market By End Users, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Metal Manufacturing & Fabrication |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Food & Beverages |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Healthcare, Energy |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Chemicals |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Electronics |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8. Global Argon Gas Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. North America Argon Gas Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Gas Phase Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Liquid |
| 9.1.2.Gas |
| 9.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Food Grade |
| 9.2.2.Industrial Grade |
| 9.2.3.Scientific Grade |
| 9.2.4.Others |
| 9.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Metal Manufacturing & Fabrication |
| 9.3.2.Food & Beverages |
| 9.3.3.Healthcare, Energy |
| 9.3.4.Chemicals |
| 9.3.5.Electronics |
| 9.3.6.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10. Europe Argon Gas Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Gas Phase Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Liquid |
| 10.1.2.Gas |
| 10.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Food Grade |
| 10.2.2.Industrial Grade |
| 10.2.3.Scientific Grade |
| 10.2.4.Others |
| 10.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Metal Manufacturing & Fabrication |
| 10.3.2.Food & Beverages |
| 10.3.3.Healthcare, Energy |
| 10.3.4.Chemicals |
| 10.3.5.Electronics |
| 10.3.6.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11. Asia Pacific (APAC) Argon Gas Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Gas Phase Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Liquid |
| 11.1.2.Gas |
| 11.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Food Grade |
| 11.2.2.Industrial Grade |
| 11.2.3.Scientific Grade |
| 11.2.4.Others |
| 11.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Metal Manufacturing & Fabrication |
| 11.3.2.Food & Beverages |
| 11.3.3.Healthcare, Energy |
| 11.3.4.Chemicals |
| 11.3.5.Electronics |
| 11.3.6.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12. Middle East and Africa (MEA) Argon Gas Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Gas Phase Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Liquid |
| 12.1.2.Gas |
| 12.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Food Grade |
| 12.2.2.Industrial Grade |
| 12.2.3.Scientific Grade |
| 12.2.4.Others |
| 12.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Metal Manufacturing & Fabrication |
| 12.3.2.Food & Beverages |
| 12.3.3.Healthcare, Energy |
| 12.3.4.Chemicals |
| 12.3.5.Electronics |
| 12.3.6.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13. Latin America Argon Gas Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Gas Phase Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Liquid |
| 13.1.2.Gas |
| 13.2. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Food Grade |
| 13.2.2.Industrial Grade |
| 13.2.3.Scientific Grade |
| 13.2.4.Others |
| 13.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Metal Manufacturing & Fabrication |
| 13.3.2.Food & Beverages |
| 13.3.3.Healthcare, Energy |
| 13.3.4.Chemicals |
| 13.3.5.Electronics |
| 13.3.6.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Praxair Inc. |
| 14.2.2.AMCS Corporation |
| 14.2.3.The Linde Group |
| 14.2.4.Iwatani Corporation |
| 14.2.5.Messer Group GmbH |
| 14.2.6.Air Liquid S.A. |
| 14.2.7.SABIC |
| 14.2.8.BASF SE |
| 14.2.9.Air Products and Chemicals and Inc. |
| 14.2.10.Matheson Tri-Gas Inc. |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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