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    Gas Liquid Argon Market

    ID: MRFR/CnM/5649-CR
    235 Pages
    Anshula Mandaokar
    January 2019

    Gas and Liquid Argon Market Research Report Information by Type (Gas, Liquid), by Mixture (Ar-CO2, Ar-O2, Ar-He, Ar-H2, Others), by Function (Cooling, Illumination, Illusion), by End-use (Welding & Metal Fabrication, Automotive & Transportation, Food & Beverage, Healthcare, Electronics, Energy, Others), and Region - Forecast to 2035

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    Gas Liquid Argon Market Infographic
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    Gas Liquid Argon Market Summary

    As per Market Research Future Analysis, the global gas and liquid argon market is projected to grow at a CAGR of 5.52% from 2022 to 2030, reaching a valuation of USD 475.3 million by 2030. Argon is widely used in metalworking applications, particularly in welding and steel production, to prevent reactions with ambient elements. The increasing demand for argon in the electronics and energy sectors, along with its expanding applications in healthcare, are key drivers of market growth. However, the rising adoption of structural adhesives in welding may hinder market expansion. The market is segmented by type, mixture, function, end-use industry, and region, with Asia Pacific holding the largest market share in 2016, followed by North America and Europe.

    Key Market Trends & Highlights

    The gas and liquid argon market is characterized by several key trends and developments.

    • Market projected to reach USD 475.3 million by 2030.
    • CAGR of 5.52% during the assessment period (2022-2030).
    • Asia Pacific held the major market share in 2016.
    • Increased use of argon in electronics and energy sectors expected to drive growth.

    Market Size & Forecast

    Market Size in 2022 USD 475.3 million
    Projected CAGR 5.52%
    Largest Regional Market Share in 2016 Asia Pacific

    Major Players

    Major companies include Air Liquide (France), Praxair Inc. (U.S.), Messer Group (Germany), Eurochem (Switzerland), BASF SE (Germany), Nippon Shokubai Co. Ltd. (Japan), SOL Spa (Italy), SABIC (Saudi Arabia), The Linde Group (Germany), and Air Products and Chemicals Inc. (U.S.).

    Gas Liquid Argon Market Drivers

    Market Trends and Projections

    Rising Use in Metal Fabrication

    The Global Gas and Liquid Argon Market Industry is significantly influenced by the rising use of argon in metal fabrication processes, particularly in welding and cutting applications. Argon serves as a shielding gas that enhances the quality of welds and prevents oxidation, making it essential in industries such as automotive and construction. As manufacturing processes become more sophisticated, the demand for high-quality welding solutions is likely to increase. This trend is expected to support a compound annual growth rate of 5.29% from 2025 to 2035, reflecting the ongoing importance of argon in industrial applications.

    Expansion of Healthcare Applications

    The Global Gas and Liquid Argon Market Industry is witnessing a significant expansion in healthcare applications, particularly in medical imaging and cryotherapy. Argon is utilized in various medical devices, including lasers for surgical procedures and cryoablation therapies. The increasing prevalence of chronic diseases and the growing emphasis on advanced medical technologies are likely to drive the demand for argon in healthcare. As hospitals and clinics invest in state-of-the-art equipment, the market is expected to benefit from this trend, contributing to an anticipated market value of 621.8 USD Million by 2035.

    Technological Advancements in Production

    Technological advancements in the production of gas and liquid argon are poised to drive growth within the Global Gas and Liquid Argon Market Industry. Innovations in cryogenic distillation and gas separation technologies enhance the efficiency and purity of argon production, reducing operational costs for manufacturers. As these technologies become more widely adopted, they may facilitate increased supply and lower prices, making argon more accessible to various industries. This could lead to a broader application range and stimulate market growth, aligning with the projected increase in market value.

    Growing Demand in Electronics Manufacturing

    The Global Gas and Liquid Argon Market Industry experiences a notable surge in demand driven by the electronics manufacturing sector. Argon is extensively utilized in the production of semiconductors and other electronic components due to its inert properties, which prevent contamination during manufacturing processes. As the global electronics market expands, particularly in regions such as Asia-Pacific, the need for high-purity argon is expected to rise. This trend is reflected in the projected market value of 352.8 USD Million in 2024, indicating a robust growth trajectory as industries increasingly rely on argon for precision applications.

    Environmental Regulations Favoring Inert Gases

    The Global Gas and Liquid Argon Market Industry is positively impacted by stringent environmental regulations that favor the use of inert gases like argon. These regulations encourage industries to adopt cleaner technologies and processes, particularly in sectors such as welding and metal fabrication, where argon serves as a safer alternative to more hazardous gases. As companies strive to comply with environmental standards, the demand for argon is likely to rise, contributing to the overall growth of the market. This trend aligns with the increasing awareness of environmental sustainability across various industries.

    Key Companies in the Gas Liquid Argon Market market include

    Industry Developments

    Bruker released a few novel apps in 2019 to improve its product category and expand its product portfolio. G6 Leonardo, for example, is an inert gas fusion analyzer. The machinery is dependable, precise, and cost-effective. The machine includes pre-calibrated standard procedures as well as argon, which helps to streamline a variety of industrial operations. Air Products stated in December 2018 that it would construct, own, and operate a new

    air separation

    unit (ASU) in Minnesota to create huge amounts of argon, oxygen, and nitrogen. Mostly for local customers and distributors, these will be accessible in liquid form.

    Future Outlook

    Gas Liquid Argon Market Future Outlook

    The Gas and Liquid Argon Market is projected to grow at a 5.29% CAGR from 2024 to 2035, driven by increasing demand in healthcare, electronics, and metal fabrication sectors.

    New opportunities lie in:

    • Develop advanced argon purification technologies to enhance product quality.
    • Expand distribution networks in emerging markets to capture new customer segments.
    • Invest in R&D for innovative applications of argon in renewable energy solutions.

    By 2035, the Gas and Liquid Argon Market is expected to demonstrate robust growth and increased market penetration.

    Market Segmentation

    Analysis Period

    • Base Year – 2017
    • Projection Period - From 2018 to 2023
    • Market Valuation - USD Million
    • Market Volume - Kilotons

    Report Scope

    Report Attribute/Metric Details
      Market Size   2030: USD 475.3 million
      CAGR   5.52%
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   
      Segments Covered   Type, Mixture, Function, End-Use Industry ands region
      Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Air Liquide (France), Praxair Inc. (U.S.), Messer Group (Germany), Eurochem (Switzerland), BASF SE (Germany), Nippon Shokubai Co. Ltd. (Japan), SOL Spa (Italy), SABIC (Saudi Arabia), The Linde Group (Germany), and Air Products and Chemicals Inc. (U.S.).
      Key Market Opportunities   Growth matrix given in the report brings an insight into the investment areas that existing or new market players can consider.
      Key Market Drivers   The high operation costs and complex manufacturing process of argon is also likely to compel end users to look for alternatives, which could hinder the growth prospects of the global gas and liquid argon market over the forecast period.

    Market Highlights

    Author
    Anshula Mandaokar
    Team Lead - Research

    Anshula Mandaokar holds an academic degree in Chemical Engineering and has been contributing to the field for more than 5 years. She has expertise in Market Research and Business Consulting and serves as a Team Lead for a reputed Market Research firm under the Chemicals and Materials domain spectrum. She has worked on multiple projects, generating explicit results in a quick turnaround time. Her understanding of data interpretation justifies her role as a leader.

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    FAQs

    At what CAGR is the Gas and Liquid Argon Market predicted to grow during the forecast period?

    Gas and Liquid Argon Market is predicted to grow at 5.52% through forecast period of 2025-2035.

    What is the forecast period of Gas and Liquid Argon Market research report?

    The forecast period for Gas and Liquid Argon Market research report is 2025-2035.

    Which region will lead the global Gas and Liquid Argon Market?

    Gas and Liquid Argon Market is dominated by APAC region.

    What are the key factors driving the Gas and Liquid Argon Market?

    The high operation costs and complex manufacturing process of argon is also likely to compel end users to look for alternatives, which could hinder the growth prospects of the global gas and liquid argon market over the forecast period.

    Who are the key players in the Gas and Liquid Argon Market?

    Air Liquide (France), Praxair Inc. (U.S.), Messer Group (Germany), Eurochem (Switzerland), BASF SE (Germany), Nippon Shokubai Co. Ltd. (Japan), SOL Spa (Italy), SABIC (Saudi Arabia), The Linde Group (Germany), and Air Products and Chemicals Inc.

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