The global argon gas equipment revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing sales of argon gas due to increasing consumption and demand from the thriving metal fabrication industry coupled with growing industrialization are major factor expected to boost growth of the global argon gas equipment market.
Argon gas is colorless, odorless, inert gas in nature which is formed by fractional distillation of liquid air. The global argon gas market report has been segmented on the basis of storage, distribution & transportation, mixture, function, end-use industry, gas phase, and region.
On the basis of storage, distribution & transportation, the global argon gas equipment is segmented into cylinder & packaged gas, merchant liquid/bulk, and tonnage.
On the basis of mixture, the global argon gas equipment is segmented into Argon-carbon dioxide, Argon-oxygen, Argon-Helium, Argon-Hydrogen.
On the basis of function, the global argon gas equipment is segmented into insulation, illumination, and cooling. The insulation segment is expected to contribute significant share in terms of revenue in the global market. The illumination segment is estimated to register lucrative CAGR.
On the basis of end-use industry, the global argon gas equipment is segmented into metal manufacturing & fabrication, chemicals, energy, healthcare, electronics, food & beverage, others (scuba diving, automotive & transportation equipment).
On the basis of gas phase, the global argon gas equipment is segmented into liquid and gas.
On the basis of region, the global argon gas equipment is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market is expected to dominate in the global argon gas equipment market, and is projected to maintain its dominance over the forecast period. This can be attributed to increasing demand for argon gas from pharmaceutical and food and beverage industry in the region. Asia Pacific market is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. The global argon gas equipment markets in Europe, Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global argon gas equipment include Air Liquide S.A., Air Products And Chemicals, Inc., Iwatani Corporation, Praxair Inc., The Linde Group, Advanced Specialty Gases Inc.,Airgas Inc. , The Messer Group GmbH, Matheson Tri-Gas Inc., Iceblick Ltd., Linde Gas USA LLC, BASF SE, and AMCS Corporation.