Argon gas Market Size by Growth Rate, Business Challenges, Competitors, and Forecast 2032 | Emergen Research

Argon Gas Market revenue was USD 10.38 Billion in 2022 and is expected to register a revenue CAGR of 6.5% during the forecast period

VANCOUVER, BRITISH COLUMBIA, CANADA, July 25, 2024 /EINPresswire.com/ -- The Argon gas market is driven by a combination of factors that contribute to its steady growth and demand across various industries. One of the primary market drivers is the widespread use of Argon gas in the metal manufacturing and fabrication industry. Argon’s inert properties make it an ideal shielding gas for welding and high-temperature processes, ensuring high-quality welds and reducing oxidation and nitridation. The growth of the automotive and aerospace sectors, which rely heavily on advanced welding techniques, further propels the demand for Argon gas. Additionally, the electronics industry utilizes Argon in the production of semiconductors and microelectronics, where it plays a crucial role in creating controlled atmospheres for manufacturing processes.

However, the Argon gas market faces several restraints that could hinder its growth. The high cost of Argon production, which involves the cryogenic distillation of air, is a significant challenge. The energy-intensive nature of the production process contributes to higher prices, making it less competitive compared to other industrial gases. Furthermore, the availability of substitute gases, such as nitrogen and helium, poses a threat to Argon’s market share. These alternatives can sometimes fulfill similar roles in industrial applications, potentially reducing Argon’s demand.

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Despite these challenges, several growth factors are driving the expansion of the Argon gas market. The increasing investments in infrastructure development and construction activities, especially in emerging economies, are boosting the demand for Argon gas in metal fabrication and welding applications. Additionally, the healthcare industry’s growing reliance on Argon gas for medical applications, such as cryosurgery and cryotherapy, presents new avenues for market growth. The trend towards energy-efficient lighting solutions, including the use of Argon in fluorescent and incandescent light bulbs, also contributes to the market's expansion.

Industry opportunities in the Argon gas market are abundant, particularly in the renewable energy sector. The development of solar and wind energy projects requires extensive metal fabrication and welding, creating a substantial demand for Argon gas. Moreover, advancements in additive manufacturing, or 3D printing, offer new growth prospects. Argon’s role in creating inert atmospheres is crucial for the production of high-quality 3D-printed metal components. The continued innovation in semiconductor technology also provides opportunities for Argon gas suppliers to cater to the evolving needs of the electronics industry.

Value chain analysis of the Argon gas market reveals a complex network involving multiple stages from production to end-use. The production stage primarily involves the extraction of Argon from atmospheric air through cryogenic distillation. The gas is then transported in liquid or gaseous form via specialized cylinders, bulk containers, or pipelines to distribution centers. These distribution centers play a crucial role in ensuring the availability of Argon gas to various end-users, including metal fabrication, electronics, healthcare, and lighting industries. The end-use stage is characterized by the application of Argon gas in diverse processes, contributing to the efficiency and quality of the final products.

The supply chain analysis of the Argon gas market highlights several key components. The supply chain begins with the procurement of raw materials, primarily atmospheric air, which is subjected to cryogenic distillation to separate Argon from other gases. The production facilities are strategically located to minimize transportation costs and ensure a steady supply of Argon to key industrial regions. Efficient logistics and transportation networks are essential to maintain the integrity of Argon gas during transit. The distribution network comprises various intermediaries, including distributors, retailers, and direct suppliers, who ensure the gas reaches the end-users in a timely manner. Technological advancements in storage and handling equipment have further streamlined the supply chain, enhancing the overall efficiency and reliability of Argon gas delivery.

Research Report on the Argon gas Market Addresses the Following Key Questions:

Who are the dominant players of the Argon gas market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Argon gas market?

What are the key growth drivers and restraining factors of the Argon gas market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Argon gas market and its key segments?

Market Overview:

The report bifurcates the Argon gas market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Argon Gas Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Argon Gas Market on the basis of storage, distribution & transportation, mixture, application, end-use and region:

Storage, Distribution & Transportation Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)

Cylinders & Packaged Gas

Merchant Liquid/Bulk

Tonnage

Mixture Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)

Argon-Carbon Dioxide

Argon-Oxygen

Argon-Helium

Argon-Hydrogen

Other Mixture

Application Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)

Illumination

Insulation

Cooling

End-User Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)

Metal Manufacturing & Fabrication

Food & Beverages

Healthcare

Energy

Chemicals

Electronics

Others

Regional Landscape section of the Argon gas report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Argon gas market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Some major players included in the global Argon Gas Market report are:

Air Liquide

Praxair Technology, Inc

Linde plc

Messer SE & Co. KGaA

Airgas, Inc.

Matheson Tri-Gas, Inc

Air Products and Chemicals, Inc.

Advanced Specialty Gases.

Iwatani Corporation

Sutton-Garten Co.

Argon Gas Latest Industry News

On 21 October 2022, Linde Plc announced expanding its long-term agreement with Jindal Stainless Limited (JSL) for the supply of industrial gases. Linde already provides JSL with oxygen, nitrogen, and argon through its on-site Air Separation Unit (ASU) at the Kalinganagar Industrial Estate in Odisha, East India. Linde will develop a second ASU under the terms of the new agreement, more than tripling the present overall capacity of its Kalinganagar plant.

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