Global Argon Market 2016-2020

Overview of the global argon market

Argon has the potential of narcotic and protective properties and has proved beneficial for medical purposes. Several studies indicate that the argon gas has the ability to display narcotic effects at hyperbaric pressures of more than 10 atmospheres and is a potential neuroprotective agent. Argon gas is preferred for the treatment of brain injuries like in vitro OGD and TBI. It is also preferred over other noble gases owing to its low cost. Besides being used as a neuroprotectant, argon has high usage in food and beverages applications such as in encasing, freezing, and fumigation. The gas is predominantly used for the efficient cooling of food products, inerting the storage and packaging atmosphere, and fumigation of grains. Technavio’s market research analyst predicts the global argon market to grow at a CAGR of around 5% by 2020.

Argon has gained huge popularity in gas chromatography. Argon plasma is the most prevalent source of ions and is very efficient in plasma generation. Argon has wide acceptance in electrosurgery, where the argon plasma coagulation is used to induce superficial thermal effects on tissues in a non-contact manner. Tissue devitalization, hemostasis, and tissue reduction are the major application fields of argon. The argon plasma coagulation is applied in most surgical areas including urology, general and visceral surgery, gynecology, gastroenterological, bronchological endoscopy, and ear, nose, and throat.

Competitive landscape and key vendors

The market is oligopolistic in nature and is dominated by prominent chemical manufacturers, who have an expanded portfolio of industrial gases with exclusive manufacturing technologies and efficient delivery networks. These vendors are establishing new capacities to ensure proximity and easy access to the fast growing markets of China, India, and other Southeast Asian countries. To sustain themselves in the competitive environment, these players are offering products in terms of availability, price, and mode of distribution.

Leading vendors in the market are -

• Airgas
• Air Liquide
• Linde
• Messer
• Praxair

Other prominent vendors in the argon market include Air water, Air products, American Gas group, BASF, Buzwair, Coregas, Gulf Cryo, Iwatani, and Taiyo Nippon Sanso.

Segmentation by application and analysis of argon market

• Electronics
• Metal manufacturing and fabrication
• Imaging and lighting
• Food and beverages
• Chemicals

The electronics segment dominated the argon market in 2015 and accounted for around 40% of the total market share. Argon gas mixtures are used in the form of carrier gases in various semiconductor manufacturing processes such as ion milling, plasma etching, and responsive ion etching. Argon gas is widely used for manufacturing plasma display where minor bulbs hold combinations of argon gases, allowing a flow of electrons that strike in to produce light discharges. The growing popularity of plasma displays has augmented the use of argon gas, which will positively contribute to the growth of this market segment in the coming years.

Geographical segmentation and analysis of argon market

• APAC
• Central and South America
• EMEA
• North America

APAC will continue its dominance in the argon market during the forecast period and is likely to occupy around 32% of the total market revenue by 2020. Being the largest semiconductor powerhouse, the region is the net importer of argon gas owing to the high demand from countries like Taiwan, South Korea, Japan, and China, which are noteworthy suppliers of electronics and semiconductors. A larger portion of the demand for noble gases like argon in this region stems from the manufacturing, automotive, and metal fabrication industries. The presence of several manufacturing industries such as automobiles, construction, mining, and transportation will increase the demand for argon in the region.

 Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global argon market?
• What are the key market trends impacting the growth of the global argon market?
• What are the challenges to market growth?
• Who are the key vendors in the global argon market?
• What are the market opportunities and threats faced by the vendors in the global argon market?
• Trending factors influencing the market shares of APAC, Central and South America, EMEA, and North America.
• What are the key outcomes of the five forces analysis of the global argon market?

Technavio also offers customization on reports based on specific client requirement.

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