Argon Gas Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2022 and Forecast 2022-2028

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Argon Gas Market: By Gas Phase (Liquid, Gas), By Grade (Food Grade, Industrial Grade, Scientific Grade, Others), By Storage, Transportation & Distribution (Cylinders & Packaged Gas, Merchant Liquid/Bulk, Tonnage), By Mixture (Argon-Carbon Dioxide, Argon-Oxygen, Argon-Helium, Argon-Hydrogen, Other Mixtures), By Function (Insulation, Illumination, Cooling), By End-Use Industry (Metal Manufacturing & Fabrication, Food & Beverages, Healthcare, Energy, Chemicals, Electronics, Others), and By Geography Forecast to 2028

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Report

Description

Argon Gas Market was valued at USD 294.5 million in 2021 and is poised to grow at a significant CAGR of 5.9% over 2022–2028.  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 3-D 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.

Recent Market Developments:

In February 2020, Air Products and Chemicals acquired Oxygen & Argon Works to provide significant growth opportunities for Oxygen & Argon in the United States.

Argon Gas Market

MARKET SUMMARY
-
5.9%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 5.9%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Argon Gas Market

  • The report on global argon gas market gives historical, current and future market sizes (US$ Mn) on the basis of gas phase, grade, storage, transportation & distribution, mixture, function, end-use industry, and geography.
  • The argon gas market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Praxair Inc.
  • AMCS Corporation
  • The Linde Group
  • Iwatani Corporation
  • Messer Group GmbH
Argon Gas Market Dynamics

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 argon gas 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 argon gas market.


North-America Got Significant Share

Argon Gas 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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The argon gas market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Argon Gas Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The argon gas market is projected to expand at a CAGR of 5.9% during the forecast period

Praxair Inc., AMCS Corporation, The Linde Group, Iwatani Corporation, Messer Group GmbH

North-America is the fastest-growing region for argon gas market


Report

Company Profile

  • Praxair Inc.
  • AMCS Corporation
  • The Linde Group
  • Iwatani Corporation
  • Messer Group GmbH
  • Air Liquid S.A.
  • SABIC
  • BASF SE
  • Air Products and Chemicals and Inc.
  • Matheson Tri-Gas Inc.

Description

Argon Gas Market was valued at USD 294.5 million in 2021 and is poised to grow at a significant CAGR of 5.9% over 2022–2028.  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 3-D 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.

Recent Market Developments:

In February 2020, Air Products and Chemicals acquired Oxygen & Argon Works to provide significant growth opportunities for Oxygen & Argon in the United States.

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