According to TechSci Research report, “Argon Gas Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Argon Gas Market stood at USD 10.19 billion in 2022 and is anticipated to grow with a CAGR of 6.91% in the forecast period, 2024-2028. The awareness among individuals regarding Argon Gas has led to favorable market conditions for the global Argon Gas market. Several factors contribute to the growth of various Argon Gas products. Argon gas has a critical role within the metal industry, primarily in the context of arc welding. Its application as a shielding gas serves to safeguard metals from oxidation, ensuring the attainment of high-quality welds. With the ongoing expansion of the global construction and manufacturing sectors, the call for argon gas in welding procedures is on the rise. Notably, the construction of infrastructure projects, automotive manufacturing, and the aerospace sector all rely on argon gas for their welding and metal fabrication needs. As a result, the burgeoning demand in the metal industry stands as a significant driver of growth in the argon gas market.
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Argon gas finds diverse applications in the medical field, including cryopreservation and cryosurgery. It serves the purpose of preserving biological samples, tissues, and cells at extremely low temperatures. Furthermore, in cryosurgery, argon gas plays a role in the freezing and elimination of abnormal or cancerous tissue. With the global population on the rise and ongoing enhancements in healthcare standards, the demand for argon gas in medical applications is steadily on the upswing. The expansion of the healthcare sector, coupled with continuous advancements in medical technology, stands as a notable driving force for the argon gas market.
In September 2023, Gulf Cryo announced that it has successfully commissioned a new ASU for a petrochemical complex in Qatar. The ASU has a capacity of 200 tonnes per day of oxygen and 100 tonnes per day of nitrogen. With a growing aging population, there is an increased demand for healthcare services, medical treatments, and the associated technologies. This demographic shift results in higher demand for healthcare applications, including cryopreservation, cryosurgery, and regenerative medicine, all of which use argon gas. In today’s fast-paced world, In industries such as construction, automotive manufacturing, and aerospace, where speed and precision are vital, argon gas is used for welding. It shields metals from oxidation during high-temperature welding processes, ensuring the creation of high-quality, durable welds quickly and efficiently. The electronics industry, which thrives on rapid technological advancements, relies on argon gas for semiconductor manufacturing. In this sector, argon creates a controlled, contaminant-free environment essential for producing the intricate electronic components used in today’s fast-paced technological devices. Argon gas plays a role in Modified Atmosphere Packaging (MAP) techniques, extending the shelf life of food and beverages. In our busy lives, consumers often seek convenience, and argon gas aids in preserving the freshness and quality of packaged food, meeting the demands of the fast-paced consumer market. In the healthcare field, where speed can be a matter of life and death, argon gas is used for cryopreservation. It allows for the long-term storage of vital biological materials, including stem cells and tissues, which can be crucial for medical treatments and research advancements.
The wine sector depends on argon gas for safeguarding wine stored in bottles. Due to its heavier-than-air properties, argon, when introduced into an open wine bottle, establishes a protective barrier that effectively inhibits wine oxidation and spoilage. The worldwide wine market continues to expand, and wine connoisseurs value the capability to savor their preferred wines over an extended timeframe, underscoring the indispensable role of argon gas in wine preservation. In recent times, Argon gas is a vital component in the field of welding and metal fabrication. Its inert properties make it an ideal shielding gas for welding, ensuring the protection of metals from oxidation during high-temperature welding processes. As manufacturing and construction industries continue to advance, the demand for argon gas in welding applications remains high. In the rapidly evolving electronics industry, argon gas is used in semiconductor manufacturing. It provides a clean and controlled atmosphere that is essential for the production of intricate semiconductor components. The demand for smaller and more powerful electronic devices has propelled the use of argon gas in this sector. However, the Price Volatility and Supply Chain Disruptions may hinder market growth. Moreover, challenges related to Environmental and Regulatory Concerns and Competition from Alternative Gases and Technologies may pose obstacles to the Argon Gas market in the near future.
The Global Argon Gas Market is segmented into form, end-user, regional distribution, and company. Based on its form, the gas segment has emerged as the predominant market leader, Gaseous argon is widely used in both industrial and specialty applications. In its gaseous form, argon is essential for processes like welding, where it is used as a shielding gas to protect metals from oxidation during high-temperature welding operations. Argon’s inert properties, such as non-reactivity and high thermal conductivity, make it a preferred choice in various welding applications, including TIG (tungsten inert gas) and MIG (metal inert gas) welding. This dominance in welding is a significant driver of the gas segment’s dominance in the argon gas market. Gaseous argon can be produced with a high level of purity, typically ranging from commercial-grade to high-purity and ultra-high-purity forms. High-purity argon gas is vital in the electronics and semiconductor industries, where any contaminants can compromise the performance of electronic components. It is used in the manufacturing of semiconductors, flat-panel displays, and other electronic devices. The strict purity and quality control requirements in these industries make gaseous argon the preferred form.
Based on region, Asia Pacific segment is expected to grow during the forecast period. This achievement can be attributed to the rising demand for argon gas in the flourishing food and beverage as well as healthcare sectors within the region. According to the India Brand Equity Foundation, it’s noteworthy that India’s healthcare sector, in particular, stands as one of the largest industries, both in terms of revenue generation and employment opportunities.
Europe stands as one of the foremost regions in the argon gas market, and it owes its prominence in large part to the existence of pivotal manufacturing nations, notably Germany. Notably, the escalating requirement for this product in Germany’s metal fabrication sector is poised to be a driving force for heightened market demand in the forthcoming years. Furthermore, the continued growth of the aviation and automotive sectors within the country is expected to lead to an increased application of metal fabrication, thereby acting as a catalyst for an upsurge in industry demand in the foreseeable future.
Major companies operating in Global Argon Gas Market are:
- Air Products and Chemicals, Inc.
- Gulf Cyro Inc
- Universal Industrial Gases, Inc.
- nexAir LLC
- Southern Industrial Gas
- Linde Plc
- Ellenbarrie Industrial Gases Ltd
- Messer Group
- Parker Hannifin Corp.
- Yingde Gases Group
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“The increasing use in the Food and Beverage Packaging and increasing use in the Healthcare and Medical Applications are key drivers of the Argon Gas market. In recent years, Economic growth and industrialization contribute to the increased demand for argon gas in manufacturing and other sectors. To meet the demands of the market, manufacturers are increasingly incorporating cutting-edge technologies with high production efficiency. Rising consumer acceptance and continuous product innovation will further ensure the growth of the Argon Gas and supplements market in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Argon Gas Market – Global Industry Size, Share, Trends, Opportunity, & Forecast 2018-2028 Segmented By Form (Gas, Liquid Argon Gas), By End-User (Healthcare, Food & Beverages, Electronics, Manufacturing, Others), By Region, Competition”, has evaluated the future growth potential of Global Argon Gas Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Argon Gas Market.
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