Argon is an odorless, colorless, non-toxic and inflammable inert gas found abundantly in the earth’s atmosphere. Naturally, argon is formed due to the decay of potassium-40, which is present in the Earth’s crust. Due to its inertness, argon rarely undergoes any chemical reaction with other metals, elements or gases. Commercially, argon is produced by frictional distillation of liquid air. There are several isotopes available such as 40Ar, 38Ar and 36Ar presently. Argon is used for several applications such as industrial processes, wielding, research & development, preservatives, lighting and laboratory equipment among others.
Increasing urbanization in emerging economies of Asia Pacific, South America and Africa are expected to drive the demand for argon for lighting purposes. In addition, rapid industrialization in these regions is expected to augment the demand for argon over the next few years. Furthermore, argon is being increasingly used for lightning purposes as it does not cause any harm to the environment. However, inhalation of argon gas is harmful to human life as excessive inhalation causes asphyxiant, which in turn can lead to death.
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Rapid industrialization in emerging economies such as China, Brazil, Russia and India is expected to drive the global market for argon over the next few years. The presence of several commercial complexes, malls and shopping centers is driving the market for innovative lightning. These lights make the use of argon as they have a high aesthetic appeal. In addition, owing to its non-toxic property, these gases are increasingly used.
Some of the key producers of argon gas include BASF, Praxair, Air Liquide, AMCS Corporation, KBR, Messer Group GmbH, Gulf Industrial Gas Co LLC, National Industrial Gas Plants and Linde Gas USA LLC among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
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This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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Companies in the Argon market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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