Market Overview
The global gas and liquid argon market is projected to expand at a healthy CAGR of 5.52% during the assessment period (2023-2028). The market is expected to reach a valuation of USD 475.3 million by the end of 2030.
The gas and liquid argon market is a significant component of the global industrial gas industry. Argon is a noble gas that is colorless, odorless, and non-reactive. It is the third most abundant gas in the Earth’s atmosphere and is extracted through the process of air separation. The primary use of argon is in the welding industry, where it is used as a shielding gas to protect the weld from oxidation and contamination.
The global demand for argon is steadily increasing due to the growing demand for welding applications in various industries such as automotive, construction, and aerospace. Additionally, argon is used in the lighting industry to create stable and long-lasting light sources.
Major Players
The market for gas and liquid argon is highly competitive, with numerous companies vying for market share. The major players in the market include Air Liquide, Linde Group, Praxair, Air Products and Chemicals, and Taiyo Nippon Sanso Corporation. These companies offer a wide range of products and services, including bulk and cylinder delivery, on-site gas generation, and gas management solutions.
The gas and liquid argon market is expected to continue to grow in the coming years, driven by increasing demand for welding and lighting applications. The market is also likely to be influenced by regulatory and environmental factors, such as government initiatives to reduce carbon emissions and the growing trend towards sustainable practices in the industrial sector.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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