In a recent report put out by Markets and Markets, it is estimated that the Argon Gas Market will grow nearly 5% by 2020. For the full report and research sources, click on the image at the end of this article.
As the report states: The increasing demand in various applications such as metal fabrication, electronics, energy, automotive, lighting, and healthcare is the major factor driving the growth of the argon gas industry. Additionally, with rapid urbanization, growth in infrastructural activities, and increasing industrialization across the globe, there is a rapidly increasing need for argon gas. The argon gas market was valued at USD 273.7 Million in 2014, and is projected to grow at a CAGR of 4.92% from 2015 to 2020. The merchant liquid/bulk segment is the fastest-growing, by storage, distribution & transportation in the argon gas market. The Asia-Pacific market is projected to grow at the highest rate. In terms of end-use industry, the metal manufacturing & fabrication sector is the fastest-growing segment, followed by the chemicals sector.
This report provides an analysis of key companies and a competitive analysis of developments recorded in the industry in the last five years. Market drivers, restraints, opportunities, and challenges have also been discussed in detail. Leading players of the market which include Praxair Inc. (U.S.), Air Liquide S.A. (France), The Linde Group (Germany), Airgas Inc. (U.S.), Matheson Tri-Gas Inc. (U.S.), Air Products and Chemicals Inc. (U.S.), and Iwatani Corporation (Japan) have been profiled to provide an insight into the competitive scenario in the market.