An increase in the infrastructural activities and burgeoning energy market applications in solar and insulated windows leading to the consumption of argon gas is driving the Argon Gas market.
Reports and Data’s latest industry analysis report titled ‘Global Argon Gas Market’ provides the reader with an exhaustive overview of the Argon Gas industry. The report is inclusive of a concise market summary and contains market projections based on the present market situation, current market size, and revenue growth rate. The report elaborates on the key market dynamics including market growth drivers, opportunities, threats, and challenges. In this report, market analysts at Reports and Data have emphasized the ever-changing market growth patterns and the dynamic environment of the industry. Key attractions of the report include List of Tables and Figures, Research Methodology, Competitive Landscape, Regional Analysis, Technological Breakthroughs, and Future Market Developments.
Rapid urbanization has changed the way of life of the individuals and, thus, has expanded the pervasiveness of the chemical and welding metal fabrication sectors over a broad aspect, therefore, augmenting the demand for the market product. Burgeoning energy markets are also expected to drive the product demand, owing to applications in solar and insulated windows market. Argon and krypton gases are used for insulating windows to cover the space between glass panes to prevent cold air from coming inside the rooms. Furthermore, inhalation of argon gas causes asphyxiation, which can be fatal to humans anticipating to hinder the growth of the Argon Gas market.
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Further key findings from the report suggest
- Insulation function is expected to grow with a CAGR of 5.1% over the forecasted period as argon gas is in high demand for gas-insulated glass units due to its reliability and pound-for-pound energy efficiency, thereby saving considerable amount of cost.
- The welding metal fabrication sector is the major contributor to the Argon Gas market and is likely to grow at a rate of 5.0% in the forecast period. Argon often used to create an inert gas shield during welding frequently blended with hydrogen, helium, oxygen, or with carbon dioxide to enhance the arc characteristics or facilitate metal transfer in the Gas Metal Arc Welding.
- The Asia Pacific dominated the market for Argon Gas. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The Asia Pacific region held approximately 34.0% of the Argon Gas market, followed by Europe, which held around 26.0% market in the year 2019.
- Key participants include National Industrial Gas Plants, BASF, The Linde Group, AMCS Corporation, Air Products and Chemicals Inc., Praxair Inc., Iwatani Corporation, Messer Group GmbH, Air Liquide, and KBR, among others.
Regional Outlook
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Mixture Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Argon-Helium
- Argon-Hydrogen
- Argon-Nitrogen
- Others
Function Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Insulation
- Illumination
- Cooling
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Chemical
- Electronics
- Power Energy
- Pharmaceutical
- Welding Metal Fabrication
- Food Beverage
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Argon Gas market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Argon Gas market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Argon Gas market key players
3.2 Global Argon Gas size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Argon Gas market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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