Argon Market Report 2026

The argon market size has grown rapidly in recent years. It will grow from $8.19 billion in 2025 to $9.12 billion in 2026 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to expansion of metal fabrication activities, growth in welding and cutting applications, increasing demand from electronics manufacturing, rising use in medical and laboratory environments, availability of large-scale air separation units.

The argon market size is expected to see rapid growth in the next few years. It will grow to $13.63 billion in 2030 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to increasing semiconductor manufacturing capacity, rising adoption of argon in energy-efficient industrial processes, expansion of healthcare infrastructure, growing demand for specialty gases in electronics, increasing investments in industrial gas distribution networks. Major trends in the forecast period include increasing use of argon in advanced manufacturing processes, rising demand for high-purity industrial gases, growing application in semiconductor and electronics fabrication, expansion of argon use in healthcare and laboratories, enhanced focus on controlled inert atmospheres.

The rising demand in the food and beverage industry is expected to drive the growth of the argon market. The food and beverage sector encompasses activities related to the production, processing, packaging, distribution, and retail of food and beverages. Argon gas is used in winemaking to protect wine during storage and in food packaging to replace air with specific gas mixtures, extending the shelf life of perishable products. For example, in April 2024, the National Association of Convenience Stores reported that in 2023, foodservice sales - including prepared foods, commissary items, and dispensed beverages - accounted for 26.9% of in-store sales, up from 25.6% in 2022. Additionally, sales of prepared foods per store per month increased by 12.2% compared to 2022. Therefore, the expanding food and beverage industry is boosting demand for argon.

Key companies in the argon market are focusing on advanced technologies that enhance safety, precision, and efficiency in inert gas applications for research and industrial use. For instance, in August 2025, Shimadzu Corporation, a Japan-based biotechnology company, launched the STABLO-AP-Ar, the world’s first corona discharge-type ionizer designed to remove static charges in argon gas environments. This model incorporates a proprietary discharge control program to enable safe and effective ionization where conventional ionizers fail. It can be integrated with Shimadzu’s analytical balances or used as a standalone unit. Developed for industries working with reactive materials such as battery components and semiconductors, the STABLO-AP-Ar provides a safer and more cost-effective alternative to radiation-based ionizers, highlighting Shimadzu’s commitment to improving precision tools and efficiency in controlled environments.

In January 2023, Iwatani Corporation of America, a major player in industrial gases, including argon, acquired Aspen Air US LLC. This acquisition aims to expand Iwatani Corporation of America's presence in the industrial gases sector, offering new growth opportunities to customers. Aspen Air US LLC, based in the US, is a manufacturer of industrial gases, including argon.

Major companies operating in the argon market are Linde plc, Air Liquide S.A., Air Products and Chemicals, Inc., Messer Group GmbH, Taiyo Nippon Sanso Corporation, Air Water Inc., SOL Group, Gulf Cryo, INOX Air Products Ltd., Ellenbarrie Industrial Gases Ltd., Yingde Gases Group, Kaimeite Gases Co., Ltd., Buzwair Industrial Gases Factories, Matheson Gas Products, Showa Denko Gas Products, Iwatani Corporation, Praxair Inc., BOC Group, Nippon Gases, Air Separation Unit Corporation.

Asia-Pacific was the largest region in the argon market in 2025. North America was the second-largest region in the global argon market. The regions covered in the argon market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the argon market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The argon market consists of the sales of argon used in refrigeration, cryosurgery, airbag inflation, fire extinguishing, and spectroscopy. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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