Global Argon Gas Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|全球氬氣市場：2021-2028 Global Argon Gas Market - 2021-2028|
|出版日期: 2021年07月30日||內容資訊: 英文 180 Pages||
Argon Gas Market Overview
The argon gas market size was worth US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Argon is an odorless and colorless gas that is inert to other substances. Argon gas is used in various forms to cater to the need of numerous industries. The gas is used as a carrier gas in cinematography; it offers a blanket atmosphere to grow crystals. The gas is found in refrigeration, cryosurgery, fire extinguishing, spectroscopy, airbag inflation, and the gas is used in fluorescent glow starters. Moreover, the argon-ion laser is used in high-speed printing, forensic medicine, holography, laser shows in entertainment and microscopy. However, argon is attractive because of how cost-effectiveness and abundance. It makes up almost 1% of the atmosphere and can be obtained through liquid nitrogen and liquid oxygen production.
Argon Gas Market Dynamics
The global argon gas market growth is driven by growing consumption in the metal fabrication industry, increasing popularity of 3-D printed components and increasing applications in the health care sector.
Increasing applications in the health care sector
The argon gas market is expected to drive with increasing applications in the health care sector. Argon is a noble gas component that has shown valuable narcotic and defensive capability in the medical sector. Argon is used to kill diseased or unhealthy tissue areas selectively. The gas has also demonstrated organ protectant traits. A study also concluded that kidney recovery after storage with argon gas was improved compared with mediums of nitrogen, xenon or air. It was evaluated that argon gas can provide an inherent organ protective environment for organ transplants by preserving the function and quality of the kidney.
The gas is also highly used in surgical tools such as argon plasma coagulation is a non-contact technique that utilizes high-frequency stimulation of argon plasma to cauterize surrounding tissues and prevent bleeding through coagulation around surgical sites. APC utilize the early use of argon gas in a medical environment, demonstrating an ability to effectively limit tissue damage as seen in surgical cases including skin, gastrointestinal, and neurosurgeries. Leading developments in the sector include: Pentax Medical added new dedicated electrosurgical and argon plasma coagulation platforms. The ENDO ARC and ENDO PLUS strengthen medical's integrated endoscopy solutions offering of Pentax.
Expensive technologies and availability of cheaper substitutes
The argon gas market is impacted by the expensive technologies and availability of cheaper substitutes. Some of the technologies using argon gas are very expensive. Current cryoablation technologies are too expensive, with a single treatment costing almost $10,000 and are not available in lower-income countries.
Hence, the companies have been finding a substitute for argon. In 2019, Johns Hopkins University created a reusable device to help women with breast cancer in lower-income countries using carbon dioxide, a widely available and affordable gas. The gas can also lead to various common health impacts when excessively inhaled, such as nausea, dizziness, vomiting, unconsciousness, and death. These scenarios are expected to hinder the market demand for the argon gas market.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the argon gas industry have seen a notable impact as all the production work, factories and other activities were closed. The production was hindered by halts and supply chain disruption globally. After the pandemic, the governments still impose various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market. The losses are incorporated with less demand from the chemical, food & beverages, electronics and other associated industries.
On the contrary, the healthcare sector has seen a spike in demand for argon gases with recent studies. A recent study concluded that employing efficient cold atmospheric plasma with argon feed gas on different surfaces inactivates the infectious SARS-CoV-2 virus. The University of California employed argon (Ar)-fed CAP treatments to inactivate SARS-CoV-2 on various surfaces. They used metal, plastic, cardboard, basketball composite leather, football leather, and baseball leather surfaces for the test.
Argon Gas Market Segment Analysis
By application, the argon gas market is broadly classified into shielding gas for arc welding, electronic manufacturing, carrier gas for chromatography, fill gas for specialized lamps and others.
The shielding gas for arc welding is expected to grow at the fastest CAGR during the forecast period (2021-2028)
The shielding gas for arc welding is expected to hold the largest market for argon gas market and is expected to continue its dominance in the forecast period. Argon has many diverse applications in many industries, but argon's most prominent use is arc welding, either in pure form or as part of various mixtures. It is one of the leading gases used in filling mixtures for incandescent lamps, phosphorescent tubes and thyratron radio tubes. It enhances arc stability and helps in preventing atmospheric contamination of welding pools. It is essential for gas tungsten arc welding and prevention for oxidation during metal production.
It is used as pure gas or mixtures in shielded arc processes for welding stainless steel, aluminum, bronze and copper. It also has a vital role in root shielding and plasma cutting applications. The gas provides an inert atmosphere to prevent oxidation and other chemical changes harmful to the weld.
Argon Gas Market Geographical Analysis
North America region holds the largest market for the global argon gas globally
North America region holds the largest market share for the argon gas market globally and is expected to continue its dominance in the forecast period with increasing demand for a large number of industrial processes, including welding and metal fabrication, steel manufacturing, electronics and automotive parts manufacturing, food preservation and winemaking.
According to the Observation of Economic Complexity report, in 2019, the top importers of Argon were the United States with sales of $21.2M. In contrast, Canada was one of the leading exporters of argon gas, reaching $19.3M in sales. Leading Companies like G2 Net-Zero LNG and NET Power have collaborated for the zero-emissions LNG project, which will boost the demand for the argon gas market.
European countries also hold a significant share in the argon gas market. Leading Countries in the region for the market are Italy with an import value of $16.3M, France with an import value of $14.8M and the United Kingdom with an import value of $11.1M. Also, Germany accounted for the largest export business for the argon gas market, generating $33.8M in the year 2019.
Argon Gas Competitive Landscape
The argon gas market is highly competitive with the local player's presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are AMCS Corporation, Praxair Inc., Linde PLC, Messer Group GmbH, Iwatani Corporation, Air Liquid S.A., SABIC, BASF SE, Air Products and others. The major players are adopting various new strategies to dominate the market, such as expansions, acquisitions and collaborations, contributing to the growth of the argon gas market globally.
Overview: Linde PLC is a leading industrial gases and engineering company with sales of $27 billion in 2020. The company serves various end markets including food & beverage, electronics, chemicals & refining, healthcare, manufacturing and primary metals. Linde's industrial gases are used in applications ranging from life-saving oxygen to high-purity & specialty gases and much more.
Product Portfolio: The Company offers a wide range of atmospheric gases, including oxygen, argon, nitrogen, rare gases, and process gases, including helium, carbon dioxide, hydrogen, electronic gases, specialty gases, and acetylene.
Key Development: In 2021, Linde has announced expanding its industrial gas production in the Hillsboro facility in response to the growing demand from the industries.
The global argon gas market report would provide access to an approx: 69 market data table, 74 figures and 260 pages.
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