PUBLISHER: IMARC | PRODUCT CODE: 1451800
PUBLISHER: IMARC | PRODUCT CODE: 1451800
Argon Market Report by Type (Liquid Argon, Gas Argon), End User (Metal Manufacturing and Fabrication, Chemicals, Energy, Healthcare, Electronics, Food and Beverage, and Others), and Region 2024-2032
The global argon market size reached US$ 415.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 637.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032. The rising argon applications in solar and insulated windows, increasing product use for welding processes, and surging utilization as a filling and carrier gas in the electronics and semiconductor industries represent some of the key factors driving the market.
Argon refers to a noble gas that appears colorless, odorless, and chemically inert to most substances. It is the third most abundant gas in earth's atmosphere that is non-toxic and inflammable in nature. It is commercially produced via the fractional distillation of liquid air. It is commonly used as a substitute for nitrogen across various end use sectors. Argon is employed in several industrial processes and applications, such as welding, lighting, preservatives, and laboratory equipment. Besides this, it finds extensive applications in the pharmaceutical and biotechnology sectors. It can also provide an oxygen and nitrogen-free environment for numerous heating processes. At present, argon is widely used in the chemical industries, although it is not a chemical itself owing to its unique properties that help innovate new products and reduce production costs.
Argon Market Trends:
The escalating demand for argon from end use verticals, including electronics, stainless steel, and fabricated metalworking, represents the primary factor driving the market growth. Moreover, the ongoing infrastructure development activities and the rapid expansion in the automotive sector have augmented the steel demand, thereby contributing to market growth. Besides this, the emerging energy industry is catalyzing the demand for argon due to its applications in solar and insulated windows. Argon and krypton gases are widely used for insulating windows to cover the space between glass panels to prevent cold air from entering the rooms. Alongside this, the surging need for argon in vast volumes for manufacturing processes across the solar energy sector represents another major growth-inducing factor. In addition, there is a rise in the use of argon for welding applications, such as welding special alloys, and in the production of light bulbs and lasers. As a result, the growing lighting demand due to the rising number of malls, shopping complexes, and other commercial establishments has propelled market growth. Furthermore, the increasing product utilization as a filling gas in fluorescent tubes and electronic components and as a carrier gas in semiconductor manufacturing processes, such as plasma etching, ion etching, and ion milling, have fueled the market growth. Other factors, including the augmenting product demand from the metal-making sectors, rising adoption of electrospray ionization mass spectrometry in the healthcare industry, rapid industrialization, and technological innovations, are also driving the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global argon market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type and end user.
Type Insights:
Liquid Argon
Gas Argon
The report has provided a detailed breakup and analysis of the argon market based on the type. This includes liquid argon and gas argon.
End User Insights:
Metal Manufacturing and Fabrication
Chemicals
Energy
Healthcare
Electronics
Food and Beverage
Others
A detailed breakup and analysis of the argon market based on the end user has also been provided in the report. This includes metal manufacturing and fabrication, chemicals, energy, healthcare, electronics, food and beverage, and others. According to the report, metal manufacturing and fabrication accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for argon. Some of the factors driving the Asia Pacific argon market included the significant growth in automobile and energy sectors, rising utilization of argon for insulating windows owing to harsh weather conditions, increasing infrastructure development activities, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global argon market. Detailed profiles of all major companies have been provided. Some of the companies covered include Air Liquide India, Air Products and Chemicals Inc., Amcs Corporation, BASF SE, Buzwair Industrial Gases Factories, Iwatani Corporation, Linde plc, Messer SE & Co. KGaA, Wesfarmers Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global argon market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global argon market?
- What is the impact of each driver, restraint, and opportunity on the global argon market?
- What are the key regional markets?
- Which countries represent the most attractive argon market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the argon market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the argon market?
- What is the competitive structure of the global argon market?
- Who are the key players/companies in the global argon market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Argon Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Liquid Argon
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Gas Argon
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by End User
- 7.1 Metal Manufacturing and Fabrication
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Chemicals
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Energy
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Healthcare
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Electronics
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Food and Beverage
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
- 7.7 Others
- 7.7.1 Market Trends
- 7.7.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
- 9.1 Overview
- 9.2 Drivers
- 9.3 Restraints
- 9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Air Liquide India
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.1.3 Financials
- 13.3.1.4 SWOT Analysis
- 13.3.2 Air Products and Chemicals Inc.
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.2.4 SWOT Analysis
- 13.3.3 Amcs Corporation
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 BASF SE
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 Buzwair Industrial Gases Factories
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.6 Iwatani Corporation
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Linde plc
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.7.3 Financials
- 13.3.8 Messer SE & Co. KGaA
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 Wesfarmers Company
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.1 Air Liquide India
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Argon Market: Major Drivers and Challenges
- Figure 2: Global: Argon Market: Sales Value (in Million US$), 2018-2023
- Figure 3: Global: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 4: Global: Argon Market: Breakup by Type (in %), 2023
- Figure 5: Global: Argon Market: Breakup by End User (in %), 2023
- Figure 6: Global: Argon Market: Breakup by Region (in %), 2023
- Figure 7: Global: Argon (Liquid Argon) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 8: Global: Argon (Liquid Argon) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 9: Global: Argon (Gas Argon) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Argon (Gas Argon) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Argon (Metal Manufacturing and Fabrication) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Argon (Metal Manufacturing and Fabrication) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Argon (Chemicals) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Argon (Chemicals) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Argon (Energy) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Argon (Energy) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Argon (Healthcare) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Argon (Healthcare) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Argon (Electronics) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Argon (Electronics) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Argon (Food and Beverage) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Argon (Food and Beverage) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Argon (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Argon (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: North America: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: North America: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: United States: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: United States: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Canada: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Canada: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: Asia-Pacific: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: Asia-Pacific: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: China: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: China: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Japan: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Japan: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: India: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: India: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: South Korea: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: South Korea: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: Australia: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: Australia: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: Indonesia: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: Indonesia: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Others: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Others: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Europe: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Europe: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: Germany: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: Germany: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: France: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: France: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: United Kingdom: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: United Kingdom: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: Italy: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: Italy: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Spain: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Spain: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Russia: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Russia: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Others: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Others: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Latin America: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Latin America: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Brazil: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Brazil: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Mexico: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Mexico: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Others: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Others: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Middle East and Africa: Argon Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Middle East and Africa: Argon Market: Breakup by Country (in %), 2023
- Figure 73: Middle East and Africa: Argon Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Global: Argon Industry: Drivers, Restraints, and Opportunities
- Figure 75: Global: Argon Industry: Value Chain Analysis
- Figure 76: Global: Argon Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Argon Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Argon Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: Argon Market Forecast: Breakup by End User (in Million US$), 2024-2032
- Table 4: Global: Argon Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: Global: Argon Market: Competitive Structure
- Table 6: Global: Argon Market: Key Players
