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Global Argon Market: Impressive Growth, Driving Factors and Emerging Trends
Argon Market
What Is The Projected Market Size Of The Global Argon Market And Its Growth Rate?
• The argon market size was $7.46 billion in 2024 and is expected to grow to $8.3 billion in 2025 with a CAGR of 11.3% primarily due to growth in industrial applications, medical applications, metal industry, electronics manufacturing, welding applications, and food preservation.
• The market is expected to see rapid growth to $12.77 billion in 2029 with a CAGR of 11.4%. The forecast period growth can be attributed to growing demand in the energy sector, rise in aerospace applications, emerging applications in electronics, rapid growth in 3D printing industry, and increased use in lighting applications.
What Is Driving The Growth In The Argon Market?
The argon gas market growth is majorly driven by the rising demand from the electronics industry. Argon gas provides an inert atmosphere required for rapid cooling and heating of materials, making it highly applicable for manufacturing semiconductors, flat panels, solar PV cells, and microelectronic devices in the electronics industry. The growth of the technology market, especially in the Asia-Pacific region, enhances the demand for advanced semiconductor components and a high reliance on specialty gases like argon, contributing significantly to the argon gas market growth.
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Who Are the Key Players Driving Argon Market Growth?
• BASF SE
• Iwatani Corporation
• Saudi Basic Industries Corporation
• Linde plc
• L'Air Liquide S.A.
• Praxair Inc.
• Air Products and Chemicals Inc.
• Nippon Sanso Holdings Corporation
• Airgas Inc.
• Air Water Inc.
• Asia Technical Gas Co. Ltd
What Are The Key Trends In The Argon Market?
• Electronics Manufacturing
• Growing demand in Metal Fabrication
• Emergence of Specialty Gas Mixtures
• Shift towards Renewable Energy
• Energy storage applications
• Increasing demand in Laboratories.
What Are The Segments Of The Global Argon Market?
The argon market is categorized into -
• By Phase: Liquid, Gas
• By Function: Cooling, Illumination, Illusion
• By End User: Metal manufacturing & fabrication, Chemicals, Energy, Healthcare, Electronics, Food & beverage, Other End-Users
Which Region Leads The Argon Market?
Asia-Pacific was the largest region in the argon market in 2024 while North America bagged the second position. The regions covered in the argon market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Argon Market Global Market Report?
- Market Size Analysis: Analyze the Argon Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Argon Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Argon Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Argon Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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