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The Gas and Liquid Argon Market is currently undergoing significant trends that are reshaping the industry across various applications. One prominent trend is the increasing demand for argon in the metal fabrication and welding sectors. Argon is widely utilized as a shielding gas in welding processes, providing an inert atmosphere that prevents oxidation and enhances the quality of welds. The booming construction and manufacturing industries, particularly in emerging economies, are driving the need for argon as a critical component in various welding applications. This trend is closely tied to the growth of infrastructure projects and industrial development globally.
Environmental sustainability is emerging as a key driver influencing market trends in the Gas and Liquid Argon Market. Argon, being an inert and non-reactive gas, is gaining attention as an environmentally friendly alternative in various industrial processes. This trend aligns with the increasing focus on green technologies and sustainable practices, prompting industries to consider the environmental impact of gases used in manufacturing and fabrication processes. The inert nature of argon contributes to reducing emissions and waste in certain applications, making it a preferred choice for environmentally conscious industries.
Technological advancements play a pivotal role in shaping market trends in the Gas and Liquid Argon Market. Ongoing research and development efforts focus on optimizing argon production processes, improving purity levels, and enhancing the efficiency of cryogenic distillation methods for obtaining liquid argon. These technological trends address the industry's need for high-quality argon with consistent properties, ensuring optimal performance in diverse applications ranging from metal manufacturing to electronics and healthcare.
The healthcare sector is another significant influencer of market trends in the Gas and Liquid Argon Market. Argon finds applications in medical environments for various purposes, including cryopreservation, laser surgery, and medical imaging. The inert nature and high density of argon make it suitable for creating controlled atmospheres in medical procedures and preserving biological samples. This trend is driven by the increasing demand for medical gases that meet stringent purity and safety standards, contributing to advancements in healthcare technologies.
Supply chain dynamics and raw material costs are critical factors impacting market trends in the Gas and Liquid Argon Market. The availability and pricing of raw materials, such as air, which serves as the source of argon through cryogenic distillation, can influence overall production costs. Fluctuations in raw material prices, energy costs, and geopolitical factors affecting the supply chain can pose challenges for manufacturers. Companies in the Gas and Liquid Argon Market are actively managing their supply chains, exploring energy-efficient technologies, and adopting measures to ensure a stable and cost-effective production process.
Moreover, there is a growing trend towards the development of innovative applications for argon. Beyond its traditional uses in welding and metal fabrication, argon is finding applications in emerging technologies such as 3D printing, where inert atmospheres are crucial to control the printing environment. Additionally, argon is gaining traction in the electronics industry for processes like plasma etching and sputtering, contributing to the miniaturization and advancement of electronic components. This trend reflects the adaptability of argon to evolving technological needs and its expanding role in diverse industries.
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.
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