Argon gas market size worth US$372.2 million by 2032

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The major companies covered in Argon Gas Market are Air Products, Airgas, Air Liquide, Messer, American Gas Products, Linde, Praxair Technology, Inc., SOS gas Inc, Specgas Inc., Mil Spec Industries, Toll Gas Inc, Nova Gas Technologies Inc., and Boc Gases Ireland Inc.

NEWARK, Del., May 4, 2022 /PRNewswire/ — The World argon gas market is estimated to reach US$372.2 million by 2032, with demand increasing to a 5.4% CAGR over the forecast period.

Argon is widely used in the healthcare industry for various applications. It has targeting areas with high precision capabilities, which makes it effective for diabetic patients with retinal detachment and retinal phototherapy.

Along with this, it has the potential of a neuroprotective agent in the treatment of brain injuries such as in vitro oxygen-glucose deprivation (OGD) and traumatic brain injury (TBI). The increasing use of argon gas in electrospray ionization mass spectrometry is expected to create growth opportunities in the market over the forecast period.

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In addition, the consumption of argon gas in the metal industry and the electronics sector is increasing rapidly. In the metal fabrication industry, argon gas is used to create an optimized atmosphere and it is used as a protective agent because it does not react with other components in the air.

It creates a nitrogen and oxygen free environment for the annealing and rolling process. The size and density of the argon molecule make it ideal for welding. Development of new products, technological upgrades and rapid urbanization in various countries will drive the demand for argon gas for metal fabrication in the construction industry.

Additionally, the increasing demand from the electronics sector will augment the market growth over the forecast period. It is used as a carrier gas for semiconductor manufacturing processes. The argon gas prevents reactions and protects the silicon crystal that forms on the wafer. Growing demand for smartphones, laptops, televisions, photovoltaic solar cells and other electronic products will continue to drive sales in the market.

Despite many applications of argon gas, its separation is difficult due to its diffusion and adsorption properties. Companies are adopting cost-effective, reliable and operationally flexible solutions for the production of argon gas.

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“The growing adoption of argon gas in the healthcare and lighting sectors, along with technological advancements in the production and supply of rare gases across the globe will create growth prospects in the market,” IMF analyst says.

Key points to remember:

  • In terms of applications, argon gas sales in the lighting segment are expected to grow at a CAGR of 4.4% during the forecast period.
  • The United States will continue to dominate North America argon gas market, with sales growing at a CAGR of 4.3% through 2032.
  • Germany will take the lion’s share of Europe argon gas market, with total demand reaching a valuation of US$16.8 million by 2032.

Competitive landscape

  • Aerial products
  • Airgas
  • Liquid air
  • mass
  • American gas products
  • Linde
  • Praxair Technology, Inc.
  • SOS Gaz Inc
  • Specgas Inc.
  • Military Specification Industries
  • Toll Gas Inc
  • Nova Gas Technologies Inc., and
  • Boc Gases Ireland Inc.

Here are some of the major argon gas manufacturers profiled by FMI.

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Argon Gas Market by Category

Mode of supply:

  • Cylinders
  • Bulk tanks and micro tanks
  • Drum tanks
  • On the site

Application:

  • Production and processing of metals
  • Electronic
  • Lighting
  • Others

Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

4. Key success factors

4.1. Product Adoption / Usage Analysis

4.2. USP/Product Features

4.3. Strategic promotional strategies

5. Global Argon Gas Market Demand Analysis 2017-2021 and Forecast, 2022-2032

5.1. Historical Analysis of Market Volume (Kilograms), 2017-2021

5.2. Current and future projections of market volume (in kilograms), 2022-2032

5.3. Analysis of annual growth trends

The table of contents continues..!

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More information about the Argon Gas Market report

In its latest report, FMI offers an unbiased analysis of the Global Argon Gas Market, providing historic data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of mode of supply (cylinders, bulk and micro tanks, drums, on-site), application (metal production and processing, electronics, lighting and others) and region.

About FMI – Chemicals and Materials

FMI’s Chemicals and Materials division offers distinct and accurate analysis of the chemicals and materials industry. This exhaustive coverage extends from raw materials, bulk, specialties and petrochemicals to advanced materials, composites and nanotechnologies in particular, with a particular emphasis on green alternatives, recycling and renewable technological developments, the supply-demand-trade assessment. Our research studies serve as benchmark market guidelines for chemical manufacturers, research institutes, distribution partners and government agencies for development – “The way forward”.

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About Future Market Insights (IMF)

Future Market Outlook (ESOMAR-certified research organization and member of Greater New York Chamber of Commerce) provides detailed information on the driving factors that increase the demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

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