Argon Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

  • Single User License $3500

Argon Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : November, 2021 | Chemical & Materials

Report Digest


Global Argon Market: Overview

Argon is formed due to decay of potassium-40. It rarely undergoes any chemical reactions with other gases, metal, and elements, reason why its demand could rise during the forecast period. It is used for various applications such as research and development, wielding, preservatives, lightning, laboratory processes, and industrial processes. Increased urbanization has led to an increase in demand for argon globally. Argon is also likely to boost the market growth of electrosurgery and chromatography. It is very efficient in plasma generation. Argon also inherits capabilities to display narcotics effects.

Argon can also substitute helium in different sectors. Rising price of helium could boost the demand for argon in various applications. Owing to the rise of the infrastructure industry, the demand of steel has increased, which could provide growth to the global argon market.

Global Argon Market: Trends and Opportunities

The automobile industry is anticipated to increase demand of steel, eventually supporting the growth of the global argon market. The growing energy market is likely to increase demand of argon due to its application in insulated window and solar energy. The solar energy market demands massive volumes of argon for manufacturing process. Argon gas is used for insulation of windows to prevent the cold air from glass panes to enter inside. Growing number of malls and shopping complexes using lighting is expected to boost the market during the forecast period.

Argon is a multi-skilled gas also used for various welding applications such as production of lasers, light bulbs, and welding of few alloys. Lastly, its feature to provide oxygen and nitrogen-free environment for different heating processes could push the global argon market in the coming years.

Global Argon Market: Market Potential

Scientists use software to develop images that trace neutrinos interactions from a giant chamber filled with liquefied argon. The neutrinos plays a key role in the evolution of universe. The  MicroBooNE detector consists of a liquid argon time projection chamber, a tank as big as a bus is filled with argon and is lined with electronics that operate in extreme cold environment (-303 degrees Fahrenheit). This acts as an effective tomographic 3D camera to capture the particles generated when the argon atoms interact with neutrinos in the tank. This interaction produces various other particles that carry electric charge.

The charged particles travel through the tank, ionizing and kicking electrons off from other argon atoms in their path. The electronics gather and amplify signals produced by electrons striking the wire. Hence, by following the timing and location of these signals, the images of electrons’ trajectories can be constructed to reveal information about the flavor and energy of neutrino.

Global Argon Market: Regional Outlook

Rise in urbanization and industrialization in North America could help the region to expect a rise in growth during the forecast period. This could be due to increase in growth of the energy and automobile markets. In addition, argon has a high demand for lighting purpose because it does not cause harm to the environment.

Developing countries such as India, Russia, Brazil, and China are anticipated to see decent growth in the global argon market in the next few years. Construction and development of various malls, shopping centers, and commercial complexes could catapult the market for argon lighting. These lights have a high aesthetic appeal besides some non-toxic properties, due to which their demand is likely to rise during the forecast period.

Global Argon Market: Competitive Landscape

Key players of the global argon market are expected to expand their capacity to eliminate the imbalance between demand and supply. This could boost product demand and reduce production cost. The players are also exploring and inventing new applications for argon. Production of argon is connected to oxygen production in air separation units (ASUs), therefore players are focusing on the production process in the market.

Some of key players of the global argon market are BASF, Linde Gas USA LLC, Praxair, AMCS Corporation, and Messer Group GmbH.

Global Argon Market by Region

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

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?