The Ultra-High Purity Grade Argon Market Size was valued at USD 137.2 Mn in 2023 and is predicted to reach USD 319.2 Mn by 2031 at a 11.5% CAGR during the forecast period for 2024-2031.
Ultra-high purity grade argon refers to argon gas that has been processed to have exceptionally low levels of contaminants, often ranging from 99.99% to 99.999% pure. High-purity argon is in high demand in several sectors, including the semiconductor industry, aircraft, and academia, which is driving up prices and expanding the market worldwide. Industries that rely on precision and cleanliness necessitate ultra-pure argon. Technological progress, including the creation of increasingly delicate electronic gadgets and intricate aerospace parts, calls for the utilization of ultra-high purity grade argon.
The need for this gas is increasing in critical applications where even small impurities can influence performance and functionality due to rising investments in high-precision manufacturing processes that guarantee the quality and reliability of end products. Modern technology and real-time monitoring systems improve this argon efficiency and safety. The growing number of SMEs and the market for ultra-high purity grade argon is anticipated to provide exciting opportunities in the coming years.
However, the high upfront costs of producing and evaluating ultra-high purity grade argon limited their application, and stringent rules slowed down the market’s growth. Due to disturbances of the supply chain and manufacturing slowdowns, the COVID-19 pandemic caused a stir in the extremely high-purity grade argon market. After a decrease during the pandemic, the market has recovered due to rising demand for medicinal gases and an increase in industrial activity. In addition, technical innovation and strong collaborations with high-purity grade argon companies will propel the industry's growth during the forecast period.
The ultra-high purity grade argon market is segmented based on type and application. Based on type, the market is segmented into 99.99%-99.999% and above 99.999%. By application, the market is segmented into building & infrastructure, metallurgy, petroleum and chemical, and others.
The 99.99%-99.999% category will hold a major share of the global ultra-high purity grade argon market in 2023 in high-precision applications, where it plays a crucial role. Because even trace amounts of contaminants can have a major effect on the quality and performance of semiconductors, advanced electronics, and aircraft, this level of purity is necessary for their production. Additionally, this market segment is being propelled by the rising demand for high-quality materials and strict quality standards.
The building & infrastructure segment is projected to grow rapidly in the global ultra-high purity grade argon market due to its growing incorporation into cutting-edge building methods and materials. Precision welding and cutting operations rely on ultra-high purity argon to guarantee structural integrity and high-quality joints. The need for highly pure gases in the construction industry is also being driven by the rising popularity of smart building technologies and infrastructure modernization initiatives, which drives the expansion of the worldwide market for ultra-high purity grade argon.
The North American ultra-high purity grade argon market is expected to register the highest market share in revenue in the near future because of the region’s emphasis on high-quality manufacturing standards and strong regulatory frameworks. The expansion of the North American market for ultra-high purity grade argon is anticipated to be bolstered by positive policy initiatives and increasing research and development efforts. In addition, the Asia Pacific region’s market is anticipated to experience expansion in the global market for ultra-high purity grade argon because the semiconductor and electronics sectors have grown substantially, and industrialization has progressed at a rapid pace. Demand for ultra-high-purity grade argon is driven in part by the region’s growing investments in innovative manufacturing technologies and infrastructural initiatives.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 137.2 Mn |
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Revenue Forecast In 2031 |
USD 319.2 Mn |
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Growth Rate CAGR |
CAGR of 11.5% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Application and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Airgas, Linde Gas, NST, MESA, Supagas, Air Products, Ozarc Gas, WestAir Gases, Air Liquide, Messer Canada Inc., Apollo Engineering, Airtec, Dinesh Gases, Wagner Welding, Qiaoyuan, Hangyang, Huate Gas, and other notable companies. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Ultra High Purity Grade Argon Market Snapshot
Chapter 4. Global Ultra High Purity Grade Argon Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
5.2.1. 99.99%-99.999%
5.2.2. above 99.999%
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Building & Infrastructure
6.2.2. Metallurgy
6.2.3. Petroleum and Chemical
6.2.4. Others
Chapter 7. Ultra High Purity Grade Argon Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.1.2. North America Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.1.3. North America Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.2. Europe
7.2.1. Europe Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.2.2. Europe Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.2.3. Europe Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.3.2. Asia Pacific Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.3.3. Asia Pacific Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.4. Latin America
7.4.1. Latin America Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.4.2. Latin America Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.4.3. Latin America Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.5.2. Middle East & Africa Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.5.3. Middle East & Africa Ultra High Purity Grade Argon Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Airgas
8.2.2. Linde Gas
8.2.3. NST
8.2.4. MESA
8.2.5. Supagas
8.2.6. Air Products
8.2.7. Ozarc Gas
8.2.8. WestAir Gases
8.2.9. Air Liquide
8.2.10. Messer Canada Inc.
8.2.11. Apollo Engineering
8.2.12. Airtec, Dinesh Gases
8.2.13. Wagner Welding
8.2.14. Qiaoyuan
8.2.15. Hangyang
8.2.16. Huate Gas
8.2.17. Other Prominent Players
Ultra High Purity Grade Argon Market- By Type
Ultra High Purity Grade Argon Market- By Application
Ultra High Purity Grade Argon Market- By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
