Press release
Emerging Trends Influencing The Growth Of The Argon Market: IOT (Internet Of Things) Integration With Smart Systems In Argon Market
Argon
How Big Is the Argon Market Size Expected to Be by 2034?
In recent years, the argon market has seen significant expansion. The market size is projected to increase from $7.46 billion in 2024 to $8.3 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.3%. The uptick in the past period can be correlated to the expansion in industrial utilisation, the health care sector, the metal industry, electronics manufacturing, welding uses, and food preservation methods.
A significant increase is anticipated in the argon market size over the forthcoming years, with a projection of reaching $12.77 billion by 2029, reflecting a compound annual growth rate (CAGR) of 11.4%. The driving forces behind this forecasted growth can be tracked down to an escalating demand in the energy sector, a rise in aerospace applications, newly emerging applications within the electronics industry, a rapid expansion in the 3D printing sector and a heightened usage in lighting applications. Major trends for this upcoming period include a booming electronics manufacturing, an upsurge in metal fabrication necessities, the advent of specialty gas blends, applications in energy storage, a shift towards renewable energy, and a blossoming need in laboratories.
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What Are the Emerging Segments Within the Argon Market?
The argon market covered in this report 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
Subsegments:
1) By Liquid: Industrial Liquid Argon, Medical Liquid Argon, Research and Laboratory Liquid Argon
2) By Gas: Industrial Gas Argon, Food and Beverage Gas Argon, Electronics Gas Argon, Medical Gas Argon
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What Long-Term Drivers Are Shaping Argon Market Trends?
The anticipated growth in the electronics sector is speculated to be a driving force for the argon gas market. The gas's ability to rapidly heat and cool materials in an inert atmosphere makes it an ideal choice for the production of semiconductors, flat panels, solar PV cells, and microelectronic devices within the industry. Expansion of the technological market, particularly in the Asia-Pacific region, has increased the demand for sophisticated semiconductor components and the dependence on specialty gases like argon, further expanding the horizons for the electronics industry.
Who Are the Top Competitors in Key Argon Market Segments?
Major companies operating in the argon market include 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., Cryotec Anlagenbau GmbH, SIAD S.p.A., The Messer Group GmbH, Messer Group GmbH, SOL S.p.A., Nexair LLC, Coregas Pty Ltd., Taiyo Nippon Sanso Corporation, Universal Industrial Gases Inc., Buzwair Industrial Gases Factories, Southern Industrial Gas Berhad, Cryogas Equipment Pvt Ltd., Dubai Industrial Gases, NIPPON GASES EUROPE S.A.U., J.V.C. Industrial Corporation, BOC India Limited, Gulf Cryo Holding K.S.C.C., Kanto Kagaku Co. Ltd., Hangzhou Hangyang Company Limited
What Argon Market Trends Are Gaining Traction Across Different Segments?
A large number of chemical production companies are embracing the use of Internet of Things (IoT) technologies to link their machinery and smart devices. This allows them to gather real-time data, pinpoint inefficiencies in their manufacturing procedures and enhance them. The information gathered from these gadgets is processed, scrutinized, and understood by plant supervisors and top-tier management as a means to augment quality and accomplish maximum production rates. For instance, intelligent systems supply data on the operational condition and performance of chemical reactors through inbuilt software and analytical tools. These tools alert plant operators and management about the potential machinery failures. Notable industrial gas producers such as Praxair-Linde and Air Products are amongst those adopting this IoT technology.
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Which Regions Are Becoming Hubs for Argon Market Innovation?
Asia-Pacific was the largest region in the argon market in 2024. North America was the second-largest region in the global argon market. The regions covered in the argon market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Argon Market?
2. What is the CAGR expected in the Argon Market?
3. What Are the Key Innovations Transforming the Argon Industry?
4. Which Region Is Leading the Argon Market?
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