Argon Market Analysis: Promising Segments and Share Projections || Airgas, Air Liquide, Linde, Messer Group, Praxair

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Argon Global Market Report 2023 identifies the growing demand from the electronics industry is the major driver for the argon market's growth in the forecast period. As argon gas provides an inert atmosphere needed for rapid cooling and heating of materials, it will be widely used for manufacturing semiconductors, flat panels, solar PV cells, and microelectronic devices in the electronics industry.

The global argon market size will grow from $6.06 billion in 2022 to $6.84 billion in 2023 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global argon is expected to grow from $10.28 billion in 2027 at a CAGR of 10.7%.

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Major competitors in the argon market are Airgas, Air Liquide, Linde, Messer Group, Praxair, Air Water, Air Products, American Gas Group, BASF, Buzwair, and Eurochem.

A key trend in the Argon market includes adopting IoT (Internet of Things) technologies. The data obtained through these devices is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. Major industrial gas manufacturers adopting IoT technology include Praxair-Linde and Air Products.

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The argon market is segmented -

1) By Phase: Liquid, Gas

2) By Function: Cooling, Illumination, Illusion

3) By End User: Metal manufacturing & fabrication, Chemicals, Energy, Healthcare, Electronics, Food & beverage, Other End-Users (includes scuba diving, automotive & transportation equipment)

4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the argon market.

The Business Research Company's "Global Argon Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Argon Market Include:

1. Executive Summary
2. Argon Market Characteristic
3. Argon Market Trends And Strategies
4. Argon Market - Macro Economic Scenario
5. Argon Market Size And Growth
……………
27. Argon Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Argon Market
29. Argon Market Future Outlook And Potential Analysis
30. Appendix

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