Overview of the Global Argon Gas Market: Trends and Forecasts

The market for argon gas is anticipated to reach US$ 220 million in 2022. By 2032, the market will be worth US$ 372.2 Million, with sales increasing at a CAGR of 5.4%. The market is anticipated to be driven by rising demand for argon gas from sectors including metal manufacturing, electronics, and healthcare.

Argon is extensively used in the healthcare sector for various applications. It has targeting areas with high precision capabilities making its effective for diabetic patients in retinal detachment and retinal phototherapy.

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

In addition to this, the consumption of argon gas in the metal fabrication industry and electronics sector is rising rapidly. In the metal fabrication industry, argon gas is used to create an optimized atmosphere and it’s used as a shielding 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 an ideal element for welding. New product developments, technological upgrades, and rapid urbanization across various countries will spur demand for argon gas for metal fabrication in the construction sector.

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Moreover, surging demand from the electronics sector will augment the growth in the market over the forecast period. It is used as a carrier gas for semiconductor manufacturing processes. Argon gas prevents reactions and protects the silicon crystal that is formed on the wafer. Rising demand for smartphones, laptops, televisions, solar PV cells, and other electronic products will continue driving sales in the market.

Despite of wide applications of argon gas, its separation is difficult owing to its diffusive and adsorptive properties. Companies are adopting cost-effective, reliable, and operationally flexible solutions for the production of argon gas.

“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 prospects for growth in the market,” says an FMI analyst.

Key Takeaways:

  • In terms of applications, sales of argon gas in the lighting segment are projected to increase at a 4.4% CAGR over the forecast period.
  • The U.S. will continue dominating the North America argon gas market, with sales growing at a 4.3% CAGR through 2032.
  • Germany will account for a lion’s share in the Europe argon gas market, with total demand reaching a valuation of US$ 16.8 Mn by 2032.

Competitive Landscape

Air Products, Airgas, Air Liquide, Messer, American Gas Products, Linde, Praxair Technology, Inc., SOS gases Inc, Specgas Inc., Mil Spec Industries, Toll Gas Inc, Nova Gas Technologies Inc., and Boc Gases Ireland Inc. are some of the key manufacturers of argon gas profiled by FMI.

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Argon Gas Market by Category

Supply Mode:

  • Cylinders
  • Bulk & Micro Tanks
  • Drum Tanks
  • On-Site

Application:

  • Metal Production & Processing
  • Electronics
  • Lighting
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the 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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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