Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Gas and Liquid Argon Market is influenced by several factors that collectively shape its trends and growth dynamics. One primary driver is the increasing demand for argon across various industries due to its diverse applications. Argon, an inert gas, finds extensive use in welding and metal fabrication, where it serves as a shielding gas to protect molten metals from atmospheric contamination. Additionally, argon is employed in the electronics industry for processes like plasma cutting, as well as in the medical field for cryopreservation and laser surgery. The versatility of argon contributes to its growing demand in multiple sectors.
Global economic conditions play a pivotal role in the Gas and Liquid Argon Market. Economic growth and industrialization contribute to increased manufacturing activities, fostering the need for gases like argon in welding, metal processing, and electronics manufacturing. Developing economies, undergoing rapid industrial expansion, significantly drive the market's growth as they become integral players in the global manufacturing landscape.
Technological advancements in gas separation and liquefaction processes impact the market dynamics. Ongoing research and development efforts lead to innovations that enhance the efficiency, purity, and cost-effectiveness of argon production. Companies that invest in these technological advancements gain a competitive edge by offering high-quality argon products that meet the stringent requirements of various industries.
The healthcare sector significantly contributes to the demand for argon in the Gas and Liquid Argon Market. Argon's applications in medical fields, such as cryopreservation and laser surgery, make it an essential gas in healthcare facilities. The medical industry's continuous growth and the need for advanced technologies contribute to the sustained demand for argon.
Environmental considerations and regulations also play a role in shaping the Gas and Liquid Argon Market. The production and use of argon, like any industrial gas, are subject to environmental regulations. Companies in the market must comply with environmental standards and adopt sustainable practices to address concerns related to gas emissions and environmental impact.
Geopolitical factors and trade dynamics further influence the Gas and Liquid Argon Market. Fluctuations in trade relations, changes in tariffs, and geopolitical tensions can impact the supply chain and pricing of argon. Companies need to stay informed about global trade developments and adjust their strategies to navigate potential risks and capitalize on emerging opportunities in the global market.
Moreover, the metal fabrication and welding industry significantly contribute to the demand for argon. As these industries continue to evolve and adopt advanced welding technologies, the need for high-purity argon as a shielding gas remains paramount. Argon's inert properties make it suitable for protecting molten metals during welding processes, ensuring high-quality welds in various applications.
The electronics and semiconductor industry is another key driver of the Gas and Liquid Argon Market. Argon's role in plasma cutting and other semiconductor manufacturing processes, where a controlled atmosphere is crucial, contributes to its demand in this sector. As technology advances and electronic devices become more sophisticated, the demand for argon in electronics manufacturing is expected to grow.
Raw material prices, particularly those associated with air separation units and liquefaction processes, play a role in shaping the Gas and Liquid Argon Market. Fluctuations in energy prices and the costs of air separation gases impact the production costs and pricing of argon. Companies in the market must implement effective supply chain strategies and cost management practices to navigate these raw material price dynamics.
The global gas and liquid argon market is projected to expand at a healthy CAGR of 5.52% during the assessment period (2021-2028). The market is expected to reach a valuation of USD 475.3 million by the end of 2030.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 5.52% |
Gas Liquid Argon Market Highlights:
Gas and Liquid Argon Market Overview The global gas and liquid argon market is projected to expand at a healthy CAGR of 5.52% during the assessment period (2021-2030). The market is expected to reach a valuation of USD 475.3 million by the end of 2028. Argon, an atomic number 18 noble gas, is extensively employed in metalworking applications to minimize contact between the metal and ambient elements, which could result in a reaction between the metal and air oxygen or nitrogen. This includes dying casting hot metals and metal alloys, where the increased heat can speed up interactions with ambient elements. It is also employed in welding carbon and stainless-steel alloys, where even the tiniest amount of nitrogen in the air can have a significant impact on the ductility and structural strength of the weld. Argon is also utilized in steel production for bubbling, which aids in the removal of impurities from the steel mix. While stirring, the consistency of the mixture's composition is ensured. The increased usage of argon in metalworking processes in the electronics and energy industries is expected to be a prominent driver for the worldwide gas and liquid argon market. Over the projected period, the expanding application scope of argon in the healthcare sector is expected to be a major contributor to the growth of the gas and liquid argon market. The increased use of structural adhesives instead of argon in welding operations, on the other hand, is expected to work against the worldwide gas and liquid argon market throughout the forecast period.
Report Overview
The report provides a thorough look at the global gas and liquid argon market by profiling its key segments in order to provide readers with a comprehensive understanding of the granular structure of the market. A fruitful combination of primary and secondary research is used in the report to ensure the accuracy and comprehensiveness of the information presented therein. The global gas and liquid argon market is segmented on the basis of type, mixture, function, end-use industry, and region in the report. The competitive landscape of the global gas and liquid argon market is also studied in the report in order to acquaint readers with the major players operating in the global gas and liquid argon market and the key strategies they are using to ensure continued success in the market over the forecast period.
Segmentation Overview
The global gas and liquid argon market is segmented by type into gas and liquid. By mixture, the global gas and liquid argon market is segmented into Ar-CO2, Ar-O2, Ar-He, Ar-H2, and others. By function, the gas and liquid argon market is segmented into cooling, illumination, and insulation. Key end-use industries in the global gas and liquid argon market include welding and metal fabrication, automotive and transportation, electronics, food and beverage, healthcare, energy, and others.
Regional Overview
Regionally, the global gas and liquid argon market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Asia Pacific accounted for the major share in the global gas and liquid argon market in 2016, followed by North America and Europe. The Middle East & Africa and Latin America markets are likely to hold comparatively minor positions in the global gas and liquid argon market over the forecast period.
Competitive Landscape
Major companies profiled in the report 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.).
Research Methodology
Primary and secondary research have been used to profile the global gas and liquid argon market and present to readers an accurate overview of the intricacies of the market. Primary research channels used by MRFR analysts include leading players in the global gas and liquid argon market, whereas secondary research is conducted through reliable sources such as SEC filings, whitepapers, and press releases. Every precaution is taken to ensure the accuracy of the data presented in the report.
Analysis Period
- Base Year – 2017
- Projection Period - From 2018 to 2023
- Market Valuation - USD Million
- Market Volume - Kilotons
For the scope of the report, the gas and liquid argon market is segmented in the following manner
Type
- Gas
- Liquid
Mixture type:
- Ar-CO2
- Ar-O2
- Ar-He
- Ar-H2
- Others
Function:
- Cooling
- Illumination
- Insulation
End use:
- Welding and Metal Fabrication
- Automotive and Transportation
- Food and Beverage
- Healthcare
- Electronics
- Energy
- Others
Region
- North America
- The U.S.
- Canada
- Europe
- U.K.
- Spain
- Italy
- France
- Russia
- Poland
- Germany
- Rest of EuropeÂ
- Asia Pacific
- China
- Japan
- India
- Thailand
- Malaysia
- Indonesia
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- The Middle East & Africa
- UAE
- Egypt
- Turkey
- Israel
- Saudi Arabia
- Rest of Middle East & Africa
Intended Audience
- Gas and liquid argon manufacturers
- Traders and distributors of gas and liquid argon
- Government and Independent Regulatory Authorities
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
- Raw material suppliers
- Nationalized laboratories
Recent DevelopmentBruker 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.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
