Argon is a colourless, odourless, inert gas sourced through the fractional distillation of liquid air. The omnipresent argon gas exists in its natural form in the form of multiple isotopes such as 40Ar, 36Ar, and 38Ar. Owing to its inert reactivity, argon is one of the most preferred gases for shielding metals from oxidation during welding. It is also used for joining several nonferrous and ferrous alloys. Owing to these reasons, the argon gas also finds great usage in aerospace, aircraft and automotive industry where it is used to weld parts and frames. The argon gas has better thermal insulation properties than air and hence, it is one of the most widely used gases for filling the dry suits used for scuba diving. Excimer lasers, which are used for the production of microelectronic devices, use a mixture of argon, fluorine and helium. Argon is also used for a variety of other purposes. For instance, it is used in incandescent lamps and phosphorescent tubes, fire extinguishers and airbag inflation. It is also used during cryosurgery spectroscopy and decarburizing of stainless steel. Although argon is nontoxic in nature, excessive contact can lead to asphyxiation.
Argon Gas Market: Market Dynamics
The increase in the sale of argon is pivotally being driven by the consumption and demand from the thriving metal fabrication industry. Escalating application of argon as a cryogenic inert gas is aiding in the development of the argon gas market. Argon is used during manufacturing and storage in food and beverage and pharmaceutical packaging industry. The thriving electronics industry is also one of the pivotal industry boosting the demand for argon gas. Since argon gas provides the inert atmosphere needed for rapid cooling and heating of materials, it is used for manufacturing semiconductors, flat panels, solar pv cells and microelectronic devices in the electronics industry. The growing popularity of 3-D printed parts, components and even complete systems, is driving growth for the argon gas market.
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Argon Gas Market: Segmentation
Based on gas phase, the argon gas market can be segmented into:
- Liquid
- Gas
Based on mixture, the argon gas market can be segmented as:
- Argon-Helium
- Argon-Hydrogen
- Argon- Nitrogen
- Others
On the basis of end-use industry, the argon gas market can be segmented into:
- Chemical
- Electronics
- Power and Energy
- Pharmaceutical
- Welding & Metal Fabrication
- Food and Beverage
- Others (laboratories, diving, 3-D printing etc)
On the basis of function, the argon gas market can be segmented into:
- Insulation
- Illumination
- Cooling
Argon Gas Market: Regional Outlook
The argon gas market can also be segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa. Among these regions, the APEJ accounts for maximum contribution in terms of value. Spearheaded by the thriving electronic, automotive and metal fabrication market in India and China, the region is expected to witness strong revenue growth during the forecast period. Followed by APEJ, are North America and Western Europe, both of which are expected to experience relatively high demand for argon gas. This will mostly be due to increase in demand for argon gas from pharmaceutical and food and beverage industry. The Eastern Europe argon gas market is expected to expand at a relatively moderate rate in terms of revenue characterized by significant demand from Russia for metal fabrication and welding application. Sustainable demand for argon from the electronics and chemicals industry is aiding in the growth of Japan argon market. Middle East and Africa argon gas market is expected to gain significant market share during the forecast period owing to evolving argon gas demand from metal welding and food and beverage industry.
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Argon Gas Market: Market Participants
Examples of some of the market participants in the global argon gas market identified across the value chain include Praxair Inc., AMCS Corporation, The Linde Group, Iwatani Corporation, Messer Group GmbH, Air Liquid S.A., Air Products and Chemicals and Inc. Matheson Tri-Gas Inc. among many others.
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