Asia-Pacific: Rare Gases Market 2024

Rare Gases Market Size in Asia-Pacific

The Asia-Pacific rare gases market soared to $X in 2022, increasing by 26% against the previous year. In general, consumption showed a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Rare Gases Production in Asia-Pacific

In value terms, rare gases production rose remarkably to $X in 2022 estimated in export price. Overall, production posted resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rare Gases Exports

Exports in Asia-Pacific

Rare gases exports rose markedly to X cubic meters in 2022, with an increase of 14% against the previous year. Overall, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 153% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, rare gases exports totaled $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 71% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Singapore (X cubic meters), distantly followed by Australia (X cubic meters), South Korea (X cubic meters), Hong Kong SAR (X cubic meters), China (X cubic meters) and India (X cubic meters) were the main exporters of rare gases (excluding argon), together generating 94% of total exports. Malaysia (X cubic meters) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of +35.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rare gases supplying countries in Asia-Pacific were Singapore ($X), South Korea ($X) and China ($X), together comprising 74% of total exports. Australia, Hong Kong SAR, Malaysia and India lagged somewhat behind, together comprising a further 24%.

Malaysia, with a CAGR of +36.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per cubic meter, approximately mirroring the previous year. In general, the export price, however, posted a prominent increase. The pace of growth was the most pronounced in 2018 when the export price increased by 152%. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while India ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.9%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in Asia-Pacific

In 2022, the amount of rare gases (excluding argon) imported in Asia-Pacific soared to X cubic meters, growing by 38% compared with the previous year. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.4% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports soared to $X in 2022. Overall, imports showed strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of about X cubic meters, which amounted to 46% of total imports. It was distantly followed by Indonesia (X cubic meters), South Korea (X cubic meters), Japan (X cubic meters), Singapore (X cubic meters) and Taiwan (Chinese) (X cubic meters), together comprising a 41% share of total imports. India (X cubic meters) took a minor share of total imports.

China was also the fastest-growing in terms of the rare gases (excluding argon) imports, with a CAGR of +18.1% from 2012 to 2022. At the same time, Singapore (+8.7%), Taiwan (Chinese) (+5.0%), South Korea (+2.2%), Indonesia (+2.1%) and India (+1.8%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. China (+30 p.p.) significantly strengthened its position in terms of the total imports, while India, South Korea, Indonesia and Japan saw its share reduced by -1.7%, -4.6%, -4.7% and -7.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. These countries were followed by Singapore, Taiwan (Chinese), India and Indonesia, which together accounted for a further 25%.

In terms of the main importing countries, Singapore, with a CAGR of +22.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per cubic meter in 2022, rising by 2.6% against the previous year. Over the period under review, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of 35% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while Indonesia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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