The global demand for Argon Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kiloton in 2021 and forecast to touch XX Kiloton by 2028 with a CAGR of XX% during 2022-2028.
Argon refers to a chemical element that has the symbol Ar and the atomic number 18. It is a noble gas and comes in group 18 of the periodic table. Argon is the third-most abundant gas present in the Earth's atmosphere, at 0.934%. Argon is often utilized when there is a requirement for an inert atmosphere. It is utilized in this way for titanium and other reactive elements production. It is also utilized by welders to secure the weld area and in bright light bulbs to stop oxygen from corroding the filament. Argon has around a similar solubility to oxygen, and it is 2.5 times as soluble in water as nitrogen.
Market Dynamics
The risings demand in several application segments such as stainless steel, electronics, and fabricated metalworking market is the major factor driving the argon market. The growing consumption and high demand for argon gas from the expanding metal manufacturing industry, with increasing industrialization, especially in emerging economies, lead to high market demand from several industries. The Increasing use of argon gas, owing to its greater thermal protection properties than air, for filling the dry suits used for scuba, is positively impacting the market growth. Moreover, technological innovation such as the increasing use of electrospray ionization mass spectrometry in the healthcare industry is likely to create growth opportunities for key players of the argon market in the coming years.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of argon. The growth and trends of Argon Industry provide a holistic approach to this study.
Market Segmentation
This section of the argon market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By End-Use Industry
- Metal Manufacturing & Fabrication
- Chemicals
- Energy
- Healthcare
- Electronics
- Food & Beverage
- Others (Scuba Diving, Automotive & Transportation Equipment)
By Storage, Distribution & Transportation
- Cylinder & Packaged Gas
- Merchant Liquid/Bulk
- Tonnage
By Mixture
- Argon-Carbon Dioxide
- Argon-Oxygen
- Argon-Helium
- Argon-Hydrogen
- Others (Argon-Helium-Carbon Dioxide Mixtures)
By Function
- Insulation
- Illumination
- Cooling
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Argon market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Argon Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the argon market include Linde Gas USA LLC, BASF, AMCS Corporation, Praxair, Messer Group GmbH, Air Liquide, KBR and National Industrial Gas Plants. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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