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Argon Gas Market Size is projected to reach USD 504.80 million by 2030, growing at a CAGR of 3.9%: Straits Research
New York, United States, Oct. 12, 2022 (GLOBE NEWSWIRE) — The demand for argon gas is continuously increasing owing to its increasing number of applications across various industries. This gas is extensively used for the manufacturing and metal fabrication industry, which uses argon gas along with other gases in a mixture for the fabrication process which is rapidly growing due to urbanization and industrialization. In addition to this, it is also used as a filler gas in the dry suits of scuba diving, fire extinguishers, airbag inflation, incandescent lamps, and phosphorescent tubes.
Apart from this, it is also used for a variety of other purposes such as in the manufacturing of titanium and other reactive elements in the form of a non-reactive blanket and as a protective atmosphere, for growing silicon as well as germanium crystals. These increased applications have helped in increasing the demand for argon gas thus, driving the growth of this market.
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Impact of COVID-19
The outbreak of the COVID-19 pandemic is anticipated to hamper the growth of the argon gas market in the near future. There has been a cut in the need for industrial gases in the market and thus, manufacturers are quickly changing their practices and purchasing priorities.
Furthermore, due to the imposed lockdowns and restrictions in movements, many suppliers either shut down or reduced their output because of a decreased demand from the downstream market. Therefore, the argon gas market is expected to see fluctuations in both demand and supply thus, restricting the market growth.
Report Scope
| Report Metric | Details |
| Market Size | USD 504.80 million by 2030 |
| CAGR | 3.9% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Mixture (Argon-Carbon Dioxide), Function (Cooling), Storage and Distribution (Tonnage), End-Use Industry (Energy) |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Air Liquide S.A., Air Products and Chemicals, Inc, Iwatani Corporation, Praxair Inc, The Linde Group, Advanced Specialty Gases Inc, Airgas Inc, Messer Group, Matheson Tri-Gas Inc, Iceblick Ltd, |
| Key Market Opportunities | High Demand In Advanced Materials Sector Is Pushing Argon Gas Market |
| Key Market Drivers | Use of Argon Gas in a Wide Range of Applications to Drive the Market Growth |
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Regional Analysis
Asia-Pacific is anticipated to observe a high growth rate in the argon gas market due to the growing industries like manufacturing, food and beverages, pharmaceutical, electronic, automobile, and many others in this region where the demand for argon gas is continuously increasing due to its inert nature, especially in China and India.
Key Highlights
- The global argon gas market size is predicted to reach an estimated value of USD 504.80 million by 2030, registering a CAGR of 3.9% during the forecast period (2022-2030).
- The argon gas market is projected to grow at a rapid rate, during the forecast period, owing to the characteristics and advantages of this gas which has increased its demand in various industries.
- Metal manufacturing & fabrication is anticipated to hold the largest share due to rapid urbanization and increasing manufacturing activities.
- The wide range of applications of argon gas across various industries is expected to boost market growth.
- Asia-Pacific is anticipated to observe a high growth rate in the argon gas market due to the growing industries.
Key Players
- Air Liquide S.A.
- Air Products and Chemicals, Inc
- Iwatani Corporation
- Praxair Inc
- The Linde Group
- Advanced Specialty Gases Inc
- Airgas Inc
- Messer Group
- Matheson Tri-Gas Inc
- Iceblick Ltd
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Global Argon Gas Market Segmentation
By Mixture
- Argon-Carbon Dioxide
- Argon-Oxygen
- Argon-Helium
- Argon-Hydrogen
- Argon-Helium-Carbon Dioxide
By Function
- Insulation
- Illumination
- Cooling
By Storage, Distribution & Transportation
- Cylinders & Packaged Gas
- Merchant Liquid/Bulk
- Tonnage
By End-Use Industry
- Metal Manufacturing & Fabrication
- Food & Beverages
- Healthcare
- Energy
- Chemicals
- Electronics
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Central and South America and the Caribbean
- The Middle East
- Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Argon Gas Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environmental & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Covid-19 Impact Analysis
4.14.1 Pre Covid-19 Market Scenario Analysis
4.14.2 Post Covid-19 Market Scenario Analysis
4.14.3 Measures Taken by Top Players
4.14.4 Quarterly Market Revenue and Growth Forecast Till 2021
4.15 Cost Structure Analysis
4.15.1 Labor Cost
4.15.2 Consumables
4.15.3 Maintenance Cost
5 Mixture Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & K Tons)
5.2 Argon-Carbon Dioxide
5.2.1 Market Size & Forecast (Value & K Tons)
5.3 Argon-Oxygen
5.3.1 Market Size & Forecast (Value & K Tons)
5.4 Argon-Helium
5.4.1 Market Size & Forecast (Value & K Tons)
5.5 Argon-Hydrogen
5.5.1 Market Size & Forecast (Value & K Tons)
5.6 Argon-Helium-Carbon Dioxide
5.6.1 Market Size & Forecast (Value & K Tons)
6 Function Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & K Tons)
6.2 Insulation
6.2.1 Market Size & Forecast (Value & K Tons)
6.3 Illumination
6.3.1 Market Size & Forecast (Value & K Tons)
6.4 Cooling
6.4.1 Market Size & Forecast (Value & K Tons)
7 Storage, Distribution & Transportation Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & K Tons)
7.2 Cylinders & Packaged Gas
7.2.1 Market Size & Forecast (Value & K Tons)
7.3 Merchant Liquid/Bulk
7.3.1 Market Size & Forecast (Value & K Tons)
7.4 Tonnage
7.4.1 Market Size & Forecast (Value & K Tons)
8 End-Use Industry Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & K Tons)
8.2 Metal Manufacturing & Fabrication
8.2.1 Market Size & Forecast (Value & K Tons)
8.3 Food & Beverages
8.3.1 Market Size & Forecast (Value & K Tons)
8.4 Healthcare
8.4.1 Market Size & Forecast (Value & K Tons)
8.5 Energy
8.5.1 Market Size & Forecast (Value & K Tons)
8.6 Chemicals
8.6.1 Market Size & Forecast (Value & K Tons)
8.7 Electronics
8.7.1 Market Size & Forecast (Value & K Tons)
8.8 Others
8.8.1 Market Size & Forecast (Value & K Tons)
9 Regional Overview
9.1 Introduction
9.1.1 Market Size & Forecast (Value & K Tons)
9.2 North America
9.2.1 Economic Overview
9.2.2 Market Scenario
9.2.3 The U.S.
9.2.3.1 By Mixture
9.2.3.2 By Function
9.2.3.3 By Storage, Distribution & Transportation
9.2.3.4 By End-Use Industry
9.2.4 Canada
9.2.4.1 By Mixture
9.2.4.2 By Function
9.2.4.3 By Storage, Distribution & Transportation
9.2.4.4 By End-Use Industry
9.2.5 Mexico
9.2.5.1 By Mixture
9.2.5.2 By Function
9.2.5.3 By Storage, Distribution & Transportation
9.2.5.4 By End-Use Industry
9.3 Central and South America and the Caribbean
9.3.1 Economic Overview
9.3.2 Market Scenario
9.3.3 Brazil
9.3.3.1 By Mixture
9.3.3.2 By Function
9.3.3.3 By Storage, Distribution & Transportation
9.3.3.4 By End-Use Industry
9.3.4 Argentina
9.3.4.1 By Mixture
9.3.4.2 By Function
9.3.4.3 By Storage, Distribution & Transportation
9.3.4.4 By End-Use Industry
9.3.5 Colombia
9.3.5.1 By Mixture
9.3.5.2 By Function
9.3.5.3 By Storage, Distribution & Transportation
9.3.5.4 By End-Use Industry
9.3.6 Rest of Central and South America and the Caribbean
9.3.6.1 By Mixture
9.3.6.2 By Function
9.3.6.3 By Storage, Distribution & Transportation
9.3.6.4 By End-Use Industry
9.4 Europe
9.4.1 Economic Overview
9.4.2 Market Scenario
9.4.3 Germany
9.4.3.1 By Mixture
9.4.3.2 By Function
9.4.3.3 By Storage, Distribution & Transportation
9.4.3.4 By End-Use Industry
9.4.4 France
9.4.4.1 By Mixture
9.4.4.2 By Function
9.4.4.3 By Storage, Distribution & Transportation
9.4.4.4 By End-Use Industry
9.4.5 The U.K.
9.4.5.1 By Mixture
9.4.5.2 By Function
9.4.5.3 By Storage, Distribution & Transportation
9.4.5.4 By End-Use Industry
9.4.6 Italy
9.4.6.1 By Mixture
9.4.6.2 By Function
9.4.6.3 By Storage, Distribution & Transportation
9.4.6.4 By End-Use Industry
9.4.7 The Rest of Europe
9.4.7.1 By Mixture
9.4.7.2 By Function
9.4.7.3 By Storage, Distribution & Transportation
9.4.7.4 By End-Use Industry
9.5 Asia-Pacific (APAC)
9.5.1 Economic Overview
9.5.2 Market Scenario
9.5.3 China
9.5.3.1 By Mixture
9.5.3.2 By Function
9.5.3.3 By Storage, Distribution & Transportation
9.5.3.4 By End-Use Industry
9.5.4 Japan
9.5.4.1 By Mixture
9.5.4.2 By Function
9.5.4.3 By Storage, Distribution & Transportation
9.5.4.4 By End-Use Industry
9.5.5 India
9.5.5.1 By Mixture
9.5.5.2 By Function
9.5.5.3 By Storage, Distribution & Transportation
9.5.5.4 By End-Use Industry
9.5.6 Australia
9.5.6.1 By Mixture
9.5.6.2 By Function
9.5.6.3 By Storage, Distribution & Transportation
9.5.6.4 By End-Use Industry
9.5.7 South Korea
9.5.7.1 By Mixture
9.5.7.2 By Function
9.5.7.3 By Storage, Distribution & Transportation
9.5.7.4 By End-Use Industry
9.5.8 Rest of APAC
9.5.8.1 By Mixture
9.5.8.2 By Function
9.5.8.3 By Storage, Distribution & Transportation
9.5.8.4 By End-Use Industry
9.6 The Middle East
9.6.1 Economic Overview
9.6.2 Market Scenario
9.6.3 Saudi Arabia
9.6.3.1 By Mixture
9.6.3.2 By Function
9.6.3.3 By Storage, Distribution & Transportation
9.6.3.4 By End-Use Industry
9.6.4 The UAE
9.6.4.1 By Mixture
9.6.4.2 By Function
9.6.4.3 By Storage, Distribution & Transportation
9.6.4.4 By End-Use Industry
9.6.5 Qatar
9.6.5.1 By Mixture
9.6.5.2 By Function
9.6.5.3 By Storage, Distribution & Transportation
9.6.5.4 By End-Use Industry
9.6.6 Oman
9.6.6.1 By Mixture
9.6.6.2 By Function
9.6.6.3 By Storage, Distribution & Transportation
9.6.6.4 By End-Use Industry
9.6.7 Turkey
9.6.7.1 By Mixture
9.6.7.2 By Function
9.6.7.3 By Storage, Distribution & Transportation
9.6.7.4 By End-Use Industry
9.6.8 The Rest of the Middle East
9.6.8.1 By Mixture
9.6.8.2 By Function
9.6.8.3 By Storage, Distribution & Transportation
9.6.8.4 By End-Use Industry
9.7 Africa
9.7.1 Economic Overview
9.7.2 Market Scenario
9.7.3 Nigeria
9.7.3.1 By Mixture
9.7.3.2 By Function
9.7.3.3 By Storage, Distribution & Transportation
9.7.3.4 By End-Use Industry
9.7.4 South Africa
9.7.4.1 By Mixture
9.7.4.2 By Function
9.7.4.3 By Storage, Distribution & Transportation
9.7.4.4 By End-Use Industry
9.7.5 The Rest of Africa
9.7.5.1 By Mixture
9.7.5.2 By Function
9.7.5.3 By Storage, Distribution & Transportation
9.7.5.4 By End-Use Industry
10 Competitive Landscape — Manufacturers & Suppliers
10.1 Competition Dashboard
10.2 Industry Structure
10.3 Air Liquide S.A.
10.3.1 Business Overview
10.3.2 Financial Performance
10.3.3 Recent Developments
10.3.4 Product Portfolio
10.4 Air Products and Chemicals, Inc
10.4.1 Business Overview
10.4.2 Financial Performance
10.4.3 Recent Developments
10.4.4 Product Portfolio
10.5 Iwatani Corporation
10.5.1 Business Overview
10.5.2 Financial Performance
10.5.3 Recent Developments
10.5.4 Product Portfolio
10.6 Praxair Inc
10.6.1 Business Overview
10.6.2 Financial Performance
10.6.3 Recent Developments
10.6.4 Product Portfolio
10.7 The Linde Group
10.7.1 Business Overview
10.7.2 Financial Performance
10.7.3 Recent Developments
10.7.4 Product Portfolio
10.8 Advanced Specialty Gases Inc
10.8.1 Business Overview
10.8.2 Financial Performance
10.8.3 Recent Developments
10.8.4 Product Portfolio
10.9 Airgas Inc
10.9.1 Business Overview
10.9.2 Financial Performance
10.9.3 Recent Developments
10.9.4 Product Portfolio
10.10 Messer Group
10.10.1Business Overview
10.10.2Financial Performance
10.10.3Recent Developments
10.10.4Product Portfolio
10.11 Matheson Tri-Gas Inc
10.11.1Business Overview
10.11.2Financial Performance
10.11.3Recent Developments
10.11.4Product Portfolio
10.12 Iceblick Ltd
10.12.1Business Overview
10.12.2Finacial Performance
10.12.3Recent Developments
10.12.4Product Portfolio
11 Conclusion & Recommendation
12 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/argon-gas-market/toc
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