Global Argon Gas Market Size Study, by Form (Gas, Liquid Argon Gas), by End-User (Healthcare, Food & Beverages, Electronics, Manufacturing, Others) and Regional Forecasts 2022-2032

Description

The Global Argon Gas Market is valued at approximately USD 10.89 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.91% over the forecast period 2024-2032. Argon, a colourless, odourless, inert noble gas, is naturally occurring in the Earth's atmosphere and is extracted through air separation processes. Its inert properties, high purity, and versatility make it valuable across various industries. The global argon gas market includes the production, distribution, and application of argon gas in sectors such as manufacturing, healthcare, electronics, and food and beverage. The global argon gas market has seen steady growth, driven by several key industries. The increasing demand for argon gas in applications such as arc welding, semiconductor manufacturing, cryopreservation, and modified atmosphere packaging is a significant driver. Argon gas is extensively used in the metal industry, particularly in welding processes like gas tungsten arc welding (GTAW) or TIG welding. The construction, automotive, aerospace, and electronics industries also contribute to the rising demand for argon gas.

The electronics and semiconductor sectors require high-purity argon gas for processes such as chemical vapor deposition (CVD) and physical vapor deposition (PVD). The proliferation of consumer electronics and advancements in display technologies like OLED and microLED further boost demand. In healthcare, argon gas is used in cryopreservation, cryosurgery, medical lasers, and assisted reproductive technologies. The rising use of argon gas in food and beverage packaging, especially in Modified Atmosphere Packaging (MAP), also contributes to market growth. The market faces challenges such as price volatility and supply chain disruptions, environmental and regulatory concerns, and competition from alternative gases and technologies. However, trends such as sustainability and environmental responsibility, advancements in health and medical technologies, and technological innovations in various industries present growth opportunities.

The key regions considered for the global Argon Gas Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific holds the largest market share, attributed to the growing food and beverage and healthcare sectors. Europe, with its strong manufacturing base, also represents a significant market for argon gas. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period 2024-2032

Major market players included in this report 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.
Yindi Gases Group

The detailed segments and sub-segment of the market are explained below:

By Form:

Gas
Liquid Argon Gas

By End-User:

Healthcare
Food & Beverages
Electronics
Manufacturing
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Argon Gas Market Executive Summary

1.1. Global Argon Gas Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Form
- 1.3.2. By End-User
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Argon Gas Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Argon Gas Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand in the Metal Industry
- 3.1.2. Growing Need in Electronics and Semiconductors
- 3.1.3. Expanding Healthcare Applications
- 3.1.4. Rising Use in Food and Beverage Packaging
3.2. Market Challenges
- 3.2.1. Price Volatility and Supply Chain Disruptions
- 3.2.2. Environmental and Regulatory Concerns
- 3.2.3. Competition from Alternative Gases and Technologies
3.3. Market Opportunities
- 3.3.1. Sustainability and Environmental Responsibility
- 3.3.2. Advancements in Health and Medical Technologies
- 3.3.3. Technological Innovations and Diversification of Applications

Chapter 4. Global Argon Gas Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Argon Gas Market Size & Forecasts by Form 2022-2032

5.1. Segment Dashboard
5.2. Global Argon Gas Market: Form Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Gas
- 5.2.2. Liquid Argon Gas

Chapter 6. Global Argon Gas Market Size & Forecasts by End-User 2022-2032

6.1. Segment Dashboard
6.2. Global Argon Gas Market: End-User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Healthcare
- 6.2.2. Food & Beverages
- 6.2.3. Electronics
- 6.2.4. Manufacturing
- 6.2.5. Others

Chapter 7. Global Argon Gas Market Size & Forecasts by Region 2022-2032

7.1. North America Argon Gas Market
- 7.1.1. U.S. Argon Gas Market
  - 7.1.1.1. Form breakdown size & forecasts, 2022-2032
  - 7.1.1.2. End-User breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Argon Gas Market
7.2. Europe Argon Gas Market
- 7.2.1. U.K. Argon Gas Market
- 7.2.2. Germany Argon Gas Market
- 7.2.3. France Argon Gas Market
- 7.2.4. Spain Argon Gas Market
- 7.2.5. Italy Argon Gas Market
- 7.2.6. Rest of Europe Argon Gas Market
7.3. Asia-Pacific Argon Gas Market
- 7.3.1. China Argon Gas Market
- 7.3.2. India Argon Gas Market
- 7.3.3. Japan Argon Gas Market
- 7.3.4. Australia Argon Gas Market
- 7.3.5. South Korea Argon Gas Market
- 7.3.6. Rest of Asia Pacific Argon Gas Market
7.4. Latin America Argon Gas Market
- 7.4.1. Brazil Argon Gas Market
- 7.4.2. Mexico Argon Gas Market
- 7.4.3. Rest of Latin America Argon Gas Market
7.5. Middle East & Africa Argon Gas Market
- 7.5.1. Saudi Arabia Argon Gas Market
- 7.5.2. South Africa Argon Gas Market
- 7.5.3. Rest of Middle East & Africa Argon Gas Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Air Products and Chemicals, Inc.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Gulf Cyro Inc.
- 8.3.3. Universal Industrial Gases, Inc.
- 8.3.4. nexAir LLC
- 8.3.5. Southern Industrial Gas
- 8.3.6. Linde Plc
- 8.3.7. Ellenbarrie Industrial Gases Ltd
- 8.3.8. Messer Group
- 8.3.9. Parker Hannifin Corp.
- 8.3.10. Yindi Gases Group

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes