The global gas and liquid argon market is projected to expand at a healthy CAGR of 5.52% during the assessment period (2022-2030). The market is expected to reach a valuation of USD 475.3 million by the end of 2030. 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.
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.
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.
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.
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.).
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.
For the scope of the report, the gas and liquid argon market is segmented in the following manner
Type
Mixture type:
Function:
End use:
Region
Intended Audience
Recent Development
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
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.
| Report Attribute/Metric | Details |
| Â Â Market Size | Â 2030: USD 475.3 million |
| Â Â CAGR | Â Â 5.52% |
| Â Â Base Year | Â Â 2021 |
|   Forecast Period |   2022 to 2030 |
| Â Â Historical Data | Â Â 2019Â &Â 2020 |
| Â Â Forecast Units | Â Â Value (USD Million) |
| Â Â Report Coverage | Â Â |
| Â Â Segments Covered | Â Â Type, Mixture, Function, End-Use Industry ands region |
| Â Â Geographies Covered | Â Â North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Â 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.). |
| Â Â Key Market Opportunities | Â Â Growth matrix given in the report brings an insight into the investment areas that existing or new market players can consider. |
| Â Â Key Market Drivers | Â Â 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. |
Gas Liquid Argon Market Highlights:
Frequently Asked Questions (FAQ) :
Gas and Liquid Argon Market is predicted to grow at 5.52% through forecast period of 2021-2030.
The forecast period for Gas and Liquid Argon Market research report is 2021-2030.
Gas and Liquid Argon Market is dominated by APAC region.
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.
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.
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.
$475.3 million
5.52%
Asia Pacific
2021-2030
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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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