Global Argon Market 2016-2020
About the Argon Market
Argon belongs to the group of chemical elements that exhibit chemical inertness on account of their unique atomic structures. These elements are called the inert gases or noble gases. There are six naturally occurring noble gases — helium, neon, argon, krypton, xenon, and radon. These gases are highly unreactive and are therefore widely used in non-reactive applications. Argon gas is extensively employed in electronics, imaging and lighting, metal fabrication and manufacturing, chemicals and food and beverages.
Technavio’s analysts forecast the global argon market to grow at a CAGR of 6.47% by volume during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global argon market for 2016-2020. To calculate the market size, the report considers revenue generated from several applications of argon gas across different end-user segments. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Argon Market 2016-2020
Technavio recognizes the following companies as the key players in the global argon market: Airgas, Air Liquide, Linde, Messer Group, and Praxair.
Other Prominent Vendors in the market are: Air Water, Air Products, American Gas Group, BASF, Buzwair, Coregas, Gulf Cryo, Iwatani, and Taiyo Nippon Sanso.
Commenting on the report, an analyst from Technavio’s team said: “A trend that is helping to boost market growth is the use of argon in chromatography and electrosurgery. Argon is the most preferred gas in gas chromatography. Argon plasma, the most prevalent source of ions, can also be looked at as an excitable medium for inductively coupled plasma. One of the primary reasons behind using argon plasma is its efficiency in plasma generation. The ionization potential of argon is 1,520.6 kiloJoule per mole, which is much higher than other potential gases. Higher ionization potential enables efficient plasma generation.”
According to the report, a key growth driver is the use of argon in neuroprotection. Argon has confirmed narcotic and protective abilities. The earliest studies about argon's properties have shown its ability to display narcotic effects at hyperbaric pressures of more than 10 atmospheres while more recent evidence seek to present argon as a potential neuroprotective agent. Protection was detected with three distinct concentrations of argon, 25%, 50%, and 74%.
Further, the report states that one challenge that could hamper market growth is the rise of substitutable technologies.
Airgas, Air Liquide, Linde, Messer Group, Praxair, Air Water, Air Products, American Gas Group, BASF, Buzwair, Coregas, Gulf Cryo, Iwatani, Taiyo Nippon Sanso.
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