Argon Gas Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Argon Gas Market Trends and Forecast

The future of the global argon gas market looks promising with opportunities in the chemical, electronic, metal manufacturing and fabrication, power and energy, pharmaceutical, and food & beverage applications. The global argon gas market is expected to reach an estimated $546.5 million by 2028 with a CAGR of 4.9% from 2023 to 2028. The major drivers for this market are significant use of this gas in the metal production industry, increasing inclination towards argon gas as an affordable substitute for industrial metalworking and welding procedures, and rising penetration of these gases in the phosphorescent tubes and incandescent lighting.

A more than 150-page report is developed to help in your business decisions.

Argon Gas Market by Segment

The study includes trends and forecast for the global argon gas market by gas phase, function, application, and region, as follows:

Argon Gas Market by Gas Phase [Shipment Analysis by Value from 2017 to 2028]:

• Liquid
• Gas

Argon Gas Market by Function [Shipment Analysis by Value from 2017 to 2028]:

• Insulation
• Illuminations
• Cooling

Argon Gas Market by Application [Shipment Analysis by Value from 2017 to 2028]:

• Chemicals
• Electronics
• Metal Manufacturing and Fabrication
• Power and Energy
• Pharmaceuticals
• Food and Beverage
• Others

Argon Gas Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Argon Gas Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, argon gas companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the argon gas companies profiled in this report include:-

• Praxair
• Air Liquide
• The Linde Group
• Messer Group
• Airgas

Argon Gas Market Insights

Lucintel forecasts that insulation will remain the largest function segment over the forecast period due to the significant use of argon in gas-insulated glass units owing to its affordability, dependability, and energy efficiency.

Metal manufacturing and fabrication is expected to remain the largest application segment due to rapid industrialization and expanding number of infrastructural activities across the globe.

APAC will remain the largest region due to the huge demand for argon gas from various end use industries, like food & beverage and healthcare industries, owing to its inert nature and lower cost.

Features of the Argon Gas Market

• Market Size Estimates: Argon gas market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Argon gas market size by various segments, such as by gas phase, function, application, and region
• Regional Analysis: Argon gas market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different gas phases, functions, applications, and regions for the argon gas market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the argon gas market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the argon gas market size?

Answer: The global argon gas market is expected to reach an estimated $546.5 million by 2028.

Q2. What is the growth forecast for argon gas market?

Answer: The global argon gas market is expected to grow with a CAGR of 4.9% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the argon gas market?

Answer: The major drivers for this market are significant use of this gas in the metal production industry, increasing inclination towards argon gas as an affordable substitute for industrial metalworking and welding procedures, and rising penetration of these gases in the phosphorescent tubes and incandescent lighting.

Q4. What are the major segments for argon gas market?

Answer: The future of the argon gas market looks promising with opportunities in the chemical, electronic, metal manufacturing and fabrication, power and energy, pharmaceutical, and food & beverage applications.

Q5. Who are the key argon gas companies?

Answer: Some of the key argon gas companies are as follows:

• Praxair
• Air Liquide
• The Linde Group
• Messer Group
• Airgas

Q6. Which argon gas segment will be the largest in future?

Answer:Lucintel forecasts that insulation will remain the largest function segment over the forecast period due to the significant use of argon in gas-insulated glass units owing to its affordability, dependability, and energy efficiency.

Q7. In argon gas market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to the huge demand for argon gas in various end use industries, like food & beverage and healthcare, owing to its inert nature and lower cost.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global argon gas market by gas phase (liquid and gas), function (insulation, illuminations, and cooling), application (chemicals, electronics, metal manufacturing and fabrication, power and energy, pharmaceuticals, food & beverage, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?