Argon Gas Market Key Highlights:
- Market Size (2024): USD 246 Million
- Projected Market Size (2034): USD 420.2 Million
- CAGR (2023-2034): 5.5%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies adopted by various manufacturers.
Argon Gas Market Definition
The argon gas is extensively used for shieling gas while welding, to develop inert atmospheres in processes like soldering, semiconductor manufacturing, metal heat treatment, and chemical synthesis. It is a noble gas used for food preservation. It is used for preservation of wine. In medical field it is used for performing cryosurgery and sometimes utilized in cauterize tissues in medical procedures. Due to the growth in the aerospace and automotive industry the demand for the argon gas has observed to be increased which has estimated to drive the growth of the argon gas market in the future. Due to increasing demand of the argon gas the key players are expanding the manufacturing facility by investment and funding activities.
- In September 2024, Air liquid India Holding Pvt. Ltd, gas supplying company based in India, announced that the company intends to invest around 60 million euros to acquire and run an Air Separation Unit (ASU) in Yantai, China, as part of a long-term agreement with Wanhua Chemical Group (Wanhua), a world-renowned supplier of cutting-edge chemical products. In this regard, Air Liquide will also construct, own, and run a new liquid argon manufacturing facility on this ASU. The facility will be developed by Air Liquide Engineering & Construction and will cater to the industrial merchant markets in Yantai and the larger Shandong region. This is the Group's first long-term agreement with Wanhua, and it will enable Air Liquide to expand its footprint in the Shandong region and begin providing industrial and medical gases in Yantai. As part of this new collaboration, Wanhua will get significant supplies of oxygen and nitrogen from Air Liquide. In addition to serving nitrogen, oxygen, and argon to the regional Industrial Merchant markets, Air Liquide will expand on the synergies surrounding this ASU, which is scheduled to go online at the end of 2024.
While demand for argon gas continues to grow, stringent regulations around the production and fluctuating demand and supply limit growth in the argon gas market. The availability of substitute and alternative options also restricts growth in the market. North America dominates the argon gas market as U.S. consumes large amount of argon gas due to presence well-established of electronics, food & beverages, metal, and healthcare industries in the region.
Argon Gas Market Segmentation:
By Grade
- High Purity
- Carrier Grade
- Research Grade
By Supply Type
- Cylinder/Cylinder Bundles
- Cryogenic Storage/Bulk
- On-Site Production
By Sales Channel
- Direct Sales
- Distributor Sales
By End Use Industry
- Metal Manufacturing & Fabrication
- Fabrication
- Chemicals
- Energy
- Healthcare
- Electronics
- Food & beverage
- Others
Argon Gas Market Companies:
- Air Products
- Airgas
- Air Liquide
- Messer
- American Gas Products
- Linde
- SOS Gases Inc.
- Mil-Spec Industries
- Praxair Inc.
- Matheson Tri-Gas Inc.
- Advanced Specialty Gases Inc.
- Iwatani Corporation
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