What is Global Gas and Liquid Argon Market?
The Global Gas and Liquid Argon Market is an expansive and dynamic sector that encompasses the production, distribution, and consumption of argon in both gas and liquid forms. Argon, a noble gas, is colorless, odorless, tasteless, and non-toxic. It is used in a variety of industries due to its unique properties such as low thermal conductivity, high density, and the ability to provide an inert atmosphere. The market for this versatile gas is truly global, with demand stemming from various regions around the world. The market is influenced by a multitude of factors, including technological advancements, economic conditions, and regulatory policies. It is also shaped by the specific needs and requirements of the diverse industries it serves, which range from welding and metal fabrication to healthcare and electronics.
Ar-Co2, Ar-O2, Ar-He, Ar-H2, Others in the Global Gas and Liquid Argon Market:
The Global Gas and Liquid Argon Market is segmented based on the type of argon mixtures used, namely Ar-Co2, Ar-O2, Ar-He, Ar-H2, and others. Each of these mixtures has its own unique properties and applications. Ar-Co2, for instance, is commonly used in welding due to its ability to provide a stable arc and minimal spatter. Ar-O2, on the other hand, is used in the production of high-quality stainless steel. Ar-He is used in applications that require high heat input, while Ar-H2 is used in the production of reactive metals. The 'Others' segment includes a variety of other argon mixtures used in specific niche applications. Understanding these different segments is crucial for comprehending the overall dynamics of the Global Gas and Liquid Argon Market.
Welding & Metal Fabrication, Automotive & Transportation, Food & Beverage, Healthcare, Electronics, Energy, Others in the Global Gas and Liquid Argon Market:
Argon, in its gas and liquid forms, finds usage in a wide array of sectors. In the Welding & Metal Fabrication industry, it is used as a shielding gas to protect the weld pool from oxidation. In the Automotive & Transportation sector, it is used in airbags and in the manufacturing of high-quality steel. The Food & Beverage industry uses argon to displace oxygen and prevent spoilage, while the Healthcare sector uses it in cryosurgery and in the preservation of biological specimens. In the Electronics industry, argon is used in the manufacturing of semiconductors and flat panel displays. The Energy sector uses argon in the production of light bulbs and in the insulation of windows. The 'Others' segment includes a variety of other industries that utilize argon in unique ways.
Global Gas and Liquid Argon Market Outlook:
Looking at the market outlook for the Global Gas and Liquid Argon Market, it is clear that the sector is on a growth trajectory. In 2023, the market was valued at US$ 367 million. This figure is projected to increase to US$ 469.3 million by 2030, indicating a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period from 2024 to 2030. This growth can be attributed to the increasing demand for argon in various industries, advancements in technology, and the development of new applications for argon.
| Report Metric | Details |
| Report Name | Gas and Liquid Argon Market |
| Accounted market size in 2023 | US$ 367 million |
| Forecasted market size in 2030 | US$ 469.3 million |
| CAGR | 3.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Air Liquide (France), Praxair Inc. (U.S.), Messer Group (Germany), Eurochem (Switzerland), BASF SE (Germany), Nippon Shokubai Co. Ltd. (Japan), SOL SPa (Italy), SABIC (SAudi Arabia), The Linde Group (Germany), Air Products, Chemicals Inc |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
