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.
The Global Argon Gas Market Is Forecast To Reach USD 553.7 Million By 2027, According To A New Report By Reports And Data. The Market Is Seeing An Expanded Interest From The Welding Metal Fabrication Industries, Owing To The Properties Exhibited By Argon Gas, Such As Non-Flammability, Colorlessness, Non-Toxic, And Non-Reactive Under Extreme Temperature Conditions. Moreover, A Rise For Lighting Purposes, Owing To The Increasing Number Of Malls, Shopping Complexes Are Driving The Growth Of The Market. However, The High Transportation Cost Account For An Increase In Fuel Cost Arising The Need For Exploring And Adopting Other Material As A Substitute To Reduce The Overall Cost Of The Operation And Hence, Will Be Hampering The Demand Of The Argon Gas Market.
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:
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.
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.
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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
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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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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