An Increase In The Infrastructural Activities And Burgeoning Energy Market Applications In Solar And Insulated Windows Leading To The Consumption Of Gas and Liquid Argon Is Driving The Gas and Liquid Argon Market.
Gas and Liquid Argon Market Size – USD 364.9 Million in 2019, Growth - CAGR of 5.3%, Trends – High demand from developing nations.
The global Gas and Liquid Argon 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 Gas and Liquid Argon, 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 Gas and Liquid Argon 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 Gas and Liquid Argon causes asphyxiation, which can be fatal to humans anticipating to hinder the growth of the Gas and Liquid Argon market.
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Top Leading Players: 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.
Further Key Findings from The Report Suggest:
Insulation Function Is Expected To Grow With A CAGR Of 5.1% Over The Forecasted Period As Gas and Liquid Argon 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 Gas and Liquid Argon 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 Gas and Liquid Argon. 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 Gas and Liquid Argon 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
- 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 Gas and Liquid Argon 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 Gas and Liquid Argon Market Size
2.2 Latest Regional Market Trends
2.3 Emerging Growth Trends
Competitive Outlook
3.1 Global Gas and Liquid Argon Market Key Players
3.2 Global Gas and Liquid Argon Size By Manufacturers
3.3 Products Of Major Players
3.4 Entry Barriers In The Gas and Liquid Argon Market
3.5 Mergers, Acquisitions, Joint Ventures, And Other Strategic Alliances
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