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Argon Market Expected To Reach USD 34.97 Billion By 2032, Growing At A 7.00% CAGR
(MENAFN- EIN Presswire)
The Argon market is experiencing significant growth, driven by the increasing use of Argon in various applications such as metal manufacturing, healthcare, and electronics. As a vital industrial gas, Argon is increasingly being used in welding and metal fabrication, providing essential support to numerous industries globally. Advancements in technology, along with growing awareness of Argon's applications in medical and consumer products, are anticipated to propel market expansion. In 2023, a notable push in the adoption of Argon for healthcare products, including cosmetics and supplements, continues to capture consumer attention. Statistics from sources like the U.S. Department of Energy reveal that the global consumption of Argon for industrial purposes is steadily increasing, particularly in sectors like manufacturing and electronics, where Argon's role is pivotal for efficient operations. A report by the International Gas Union (IGU) suggests a consistent rise in Argon usage across Europe, especially in the automotive and healthcare sectors, indicating a shift in industrial consumption patterns.
Get a Sample Report of Argon Market @
Key Players:
. Air Products and Chemicals Inc. (Liquid Argon, High-Purity Argon Gas, Argon Gas Mixtures)
. Air Water Inc. (Industrial Argon Gas, Bulk Argon Supply, Argon Cylinders)
. Buzwair Industrial Gases Factories (Argon for Welding, High-Purity Argon, Liquid Argon Supply)
. Cryotec Anlagenbau GmbH (Argon Purification Systems, Cryogenic Argon Plants, Air Separation Units for Argon)
. Dubai Industrial Gases (High-Purity Argon, Argon Gas Cylinders, Liquid Argon)
. Gulf Cryo Holding K.S.C.C. (Industrial Argon Gas, Argon Mixtures, Liquid Argon for Metal Fabrication)
. Hangzhou Hangyang Company Limited (Air Separation Units for Argon, Liquid Argon Storage Tanks, Bulk Argon Supply Systems)
. Iwatani Corporation (High-Purity Argon Gas, Argon Cylinders, Liquid Argon Supply)
. V.C. Industrial Corporation (Industrial Argon Gas, Argon Mixtures, Argon Cylinders)
. Kanto Kagaku Co. Ltd. (Ultra-High Purity Argon, Semiconductor-Grade Argon, Argon Cylinders)
. L'Air Liquide S.A. (High-Purity Argon, Argon Mixtures, Bulk & Cylinder Argon Supply)
. Linde plc (Liquid Argon, Industrial Argon Gas, Argon Gas Mixtures)
. Messer Group GmbH (Industrial Argon, Argon Mixtures for Welding, Liquid Argon Supply)
. National Industrial Gas Plants (High-Purity Argon Gas, Argon Cylinders, Bulk Argon Delivery)
. Nippon Sanso Holdings Corporation (Taiyo Nippon Sanso Corporation) (High-Purity Argon, Argon Gas Mixtures, Liquid Argon)
. SIAD S.p.A. (High-Purity Argon, Industrial Argon, Liquid Argon Supply)
. SOL S.p.A. (Liquid Argon, High-Purity Argon Gas, Argon Mixtures)
. Southern Industrial Gas Berhad (Industrial Argon Gas, Argon Gas Cylinders, Liquid Argon Supply)
. Universal Industrial Gases Inc. (Bulk Argon Supply, Liquid Argon Storage, Argon Purification Systems)
. Wesfarmers Company (Industrial Argon Gas, Argon Cylinders, Liquid Argon Supply)
By Grade, Industrial Grade dominated the Argon market, holding a market share of 65.2%.
This dominance is driven by its extensive use in industries such as steel manufacturing, electronics, and welding. This segment continues to experience robust demand due to Argon's critical role in creating protective atmospheres for industrial processes. The large-scale use in the metal industry, particularly for welding and cutting processes, ensures its steady demand. This demand is supported by the growing construction and automotive industries that require high-quality materials for manufacturing processes, further solidifying Argon's industrial importance.
By Form, Liquid Form Segment Dominated, Accounting for 55.6% Share in 2023
The demand for liquid Argon is driven by its efficient storage and transportation capabilities, especially in industries like electronics, healthcare, and energy. Liquid Argon is vital in cryogenic applications and serves as a cooling agent in various scientific and industrial settings. With technological advances improving its storage efficiency, the demand for liquid Argon is expected to remain strong, particularly in the production of semiconductors and other high-tech applications.
By End-Use Industry, Metal Manufacturing & Fabrication dominated the Argon Market In 2023, Accounting for About 35.8% Of the Market Share.
Argon is essential for protecting molten metals during welding and casting, preventing contamination from oxygen. As manufacturing industries continue to grow globally, particularly in countries with high industrial output like China and India, the demand for Argon in this segment is expected to rise significantly. Argon's use in creating an inert atmosphere for metalworking and fabrication ensures its continued dominance in the market.
Buy Full Research Report on Argon Market 2024-2032 @
Asia Pacific Dominated the Argon Market In 2023, Holding A 38.5% Market Share.
In 2023, the Asia Pacific region held a dominant share of the global Argon market. This is largely attributed to the region's robust industrial growth, particularly in metal manufacturing and electronics. Countries like China and India have seen rapid industrialization, increasing the demand for Argon in sectors such as welding, electronics manufacturing, and healthcare. The rise in healthcare and consumer goods manufacturing, coupled with the growing awareness of Argon-based products, continues to propel market growth in this region. Asia Pacific's industrial dominance is supported by favorable government policies, low production costs, and an increasing number of local production facilities. These factors contribute to the region's significant role in the Argon market.
North America Emerged as The Fastest-Growing Region in The Argon Market, With A Significant CAGR During the Forecast Period.
The North American region is the fastest-growing in the Argon market, with a significant shift toward Argon-based healthcare and industrial applications. The growth in industries like electronics, aerospace, and energy is driving the demand for Argon. Additionally, North America is witnessing an increased adoption of Argon in the food and beverage sector, particularly in packaging and preservation. Technological advancements and regulatory support for sustainable industrial practices also play a crucial role in boosting the market growth in this region.
About Us:
SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.
Argon Market
The argon market expands with rising demand in metal fabrication, healthcare, and electronics, driven by capacity expansions and sustainable innovations.
AUSTIN, TX, UNITED STATES, March 3, 2025 /EINPresswire / -- The Argon Market Size was valued at 19.02 Billion in 2023 and is expected to reach USD 34.97 Billion by 2032, growing at a CAGR of 7.00% over the forecast period of 2024-2032.The Argon market is experiencing significant growth, driven by the increasing use of Argon in various applications such as metal manufacturing, healthcare, and electronics. As a vital industrial gas, Argon is increasingly being used in welding and metal fabrication, providing essential support to numerous industries globally. Advancements in technology, along with growing awareness of Argon's applications in medical and consumer products, are anticipated to propel market expansion. In 2023, a notable push in the adoption of Argon for healthcare products, including cosmetics and supplements, continues to capture consumer attention. Statistics from sources like the U.S. Department of Energy reveal that the global consumption of Argon for industrial purposes is steadily increasing, particularly in sectors like manufacturing and electronics, where Argon's role is pivotal for efficient operations. A report by the International Gas Union (IGU) suggests a consistent rise in Argon usage across Europe, especially in the automotive and healthcare sectors, indicating a shift in industrial consumption patterns.
Get a Sample Report of Argon Market @
Key Players:
. Air Products and Chemicals Inc. (Liquid Argon, High-Purity Argon Gas, Argon Gas Mixtures)
. Air Water Inc. (Industrial Argon Gas, Bulk Argon Supply, Argon Cylinders)
. Buzwair Industrial Gases Factories (Argon for Welding, High-Purity Argon, Liquid Argon Supply)
. Cryotec Anlagenbau GmbH (Argon Purification Systems, Cryogenic Argon Plants, Air Separation Units for Argon)
. Dubai Industrial Gases (High-Purity Argon, Argon Gas Cylinders, Liquid Argon)
. Gulf Cryo Holding K.S.C.C. (Industrial Argon Gas, Argon Mixtures, Liquid Argon for Metal Fabrication)
. Hangzhou Hangyang Company Limited (Air Separation Units for Argon, Liquid Argon Storage Tanks, Bulk Argon Supply Systems)
. Iwatani Corporation (High-Purity Argon Gas, Argon Cylinders, Liquid Argon Supply)
. V.C. Industrial Corporation (Industrial Argon Gas, Argon Mixtures, Argon Cylinders)
. Kanto Kagaku Co. Ltd. (Ultra-High Purity Argon, Semiconductor-Grade Argon, Argon Cylinders)
. L'Air Liquide S.A. (High-Purity Argon, Argon Mixtures, Bulk & Cylinder Argon Supply)
. Linde plc (Liquid Argon, Industrial Argon Gas, Argon Gas Mixtures)
. Messer Group GmbH (Industrial Argon, Argon Mixtures for Welding, Liquid Argon Supply)
. National Industrial Gas Plants (High-Purity Argon Gas, Argon Cylinders, Bulk Argon Delivery)
. Nippon Sanso Holdings Corporation (Taiyo Nippon Sanso Corporation) (High-Purity Argon, Argon Gas Mixtures, Liquid Argon)
. SIAD S.p.A. (High-Purity Argon, Industrial Argon, Liquid Argon Supply)
. SOL S.p.A. (Liquid Argon, High-Purity Argon Gas, Argon Mixtures)
. Southern Industrial Gas Berhad (Industrial Argon Gas, Argon Gas Cylinders, Liquid Argon Supply)
. Universal Industrial Gases Inc. (Bulk Argon Supply, Liquid Argon Storage, Argon Purification Systems)
. Wesfarmers Company (Industrial Argon Gas, Argon Cylinders, Liquid Argon Supply)
By Grade, Industrial Grade dominated the Argon market, holding a market share of 65.2%.
This dominance is driven by its extensive use in industries such as steel manufacturing, electronics, and welding. This segment continues to experience robust demand due to Argon's critical role in creating protective atmospheres for industrial processes. The large-scale use in the metal industry, particularly for welding and cutting processes, ensures its steady demand. This demand is supported by the growing construction and automotive industries that require high-quality materials for manufacturing processes, further solidifying Argon's industrial importance.
By Form, Liquid Form Segment Dominated, Accounting for 55.6% Share in 2023
The demand for liquid Argon is driven by its efficient storage and transportation capabilities, especially in industries like electronics, healthcare, and energy. Liquid Argon is vital in cryogenic applications and serves as a cooling agent in various scientific and industrial settings. With technological advances improving its storage efficiency, the demand for liquid Argon is expected to remain strong, particularly in the production of semiconductors and other high-tech applications.
By End-Use Industry, Metal Manufacturing & Fabrication dominated the Argon Market In 2023, Accounting for About 35.8% Of the Market Share.
Argon is essential for protecting molten metals during welding and casting, preventing contamination from oxygen. As manufacturing industries continue to grow globally, particularly in countries with high industrial output like China and India, the demand for Argon in this segment is expected to rise significantly. Argon's use in creating an inert atmosphere for metalworking and fabrication ensures its continued dominance in the market.
Buy Full Research Report on Argon Market 2024-2032 @
Asia Pacific Dominated the Argon Market In 2023, Holding A 38.5% Market Share.
In 2023, the Asia Pacific region held a dominant share of the global Argon market. This is largely attributed to the region's robust industrial growth, particularly in metal manufacturing and electronics. Countries like China and India have seen rapid industrialization, increasing the demand for Argon in sectors such as welding, electronics manufacturing, and healthcare. The rise in healthcare and consumer goods manufacturing, coupled with the growing awareness of Argon-based products, continues to propel market growth in this region. Asia Pacific's industrial dominance is supported by favorable government policies, low production costs, and an increasing number of local production facilities. These factors contribute to the region's significant role in the Argon market.
North America Emerged as The Fastest-Growing Region in The Argon Market, With A Significant CAGR During the Forecast Period.
The North American region is the fastest-growing in the Argon market, with a significant shift toward Argon-based healthcare and industrial applications. The growth in industries like electronics, aerospace, and energy is driving the demand for Argon. Additionally, North America is witnessing an increased adoption of Argon in the food and beverage sector, particularly in packaging and preservation. Technological advancements and regulatory support for sustainable industrial practices also play a crucial role in boosting the market growth in this region.
About Us:
SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.
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