Asia: Rare Gases Market 2024

Rare Gases Market Size in Asia

The Asian rare gases market skyrocketed to $X in 2022, surging by 23% against the previous year. In general, consumption continues to indicate buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Rare Gases Production in Asia

In value terms, rare gases production rose significantly to $X in 2022 estimated in export price. Over the period under review, production showed buoyant growth. The growth pace was the most rapid in 2015 with an increase of 32%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Rare Gases Exports

Exports in Asia

In 2022, shipments abroad of rare gases (excluding argon) increased by 76% to X cubic meters for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 93% against the previous year. The volume of export peaked at X cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, rare gases exports soared to $X in 2022. Overall, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 57%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

The shipments of the four major exporters of rare gases (excluding argon), namely Singapore, Turkey, the United Arab Emirates and South Korea, represented more than two-thirds of total export. Hong Kong SAR (X cubic meters) took the next position in the ranking, followed by China (X cubic meters). All these countries together held near 11% share of total exports. India (X cubic meters) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +43.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of exports in 2022, with a combined 74% share of total exports. These countries were followed by Hong Kong SAR, the United Arab Emirates, Turkey and India, which together accounted for a further 21%.

Among the main exporting countries, Turkey, with a CAGR of +41.7%, recorded the highest rates of growth with regard to the value of exports, 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 amounted to $X per cubic meter, reducing by -30.6% against the previous year. Overall, the export price, however, posted strong growth. The pace of growth appeared the most rapid in 2021 an increase of 34%. As a result, the export price reached the peak level of $X per cubic meter, and then contracted markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while Turkey ($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

In 2022, purchases abroad of rare gases (excluding argon) increased by 35% to X cubic meters, rising for the sixth year in a row after two years of decline. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +102.3% 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 skyrocketed to $X in 2022. Overall, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the main importing country with an import of around X cubic meters, which finished at 43% 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 constituting a 38% share of total imports. The following importers - India (X cubic meters) and Israel (X cubic meters) - together made up 5% 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, Israel (+10.9%), 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 (+27 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%, -4.5%, -4.7% and -7.4% 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) appeared to be the countries with the highest levels of imports in 2022, together accounting for 65% of total imports. Singapore, Taiwan (Chinese), India, Israel and Indonesia lagged somewhat behind, together comprising a further 26%.

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

Import Prices by Country

In 2022, the import price in Asia amounted to $X per cubic meter, with an increase of 3.7% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rare gases import price increased by +45.7% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the import price increased by 32% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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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