Australia: Rare Gases Market 2024

Rare Gases Market Size in Australia

The Australian rare gases market skyrocketed to $X in 2022, growing by 29% against the previous year. Overall, consumption enjoyed a prominent increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Rare Gases Production in Australia

In value terms, rare gases production stood at $X in 2022 estimated in export price. In general, production saw a prominent expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 196%. Rare gases production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rare Gases Exports

Exports from Australia

In 2022, overseas shipments of rare gases (excluding argon) decreased by -13.1% to X cubic meters, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 659%. As a result, the exports attained the peak of X cubic meters. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, rare gases exports contracted modestly to $X in 2022. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2017 when exports increased by 755% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Singapore (X cubic meters) was the main destination for rare gases exports from Australia, with a 49% share of total exports. Moreover, rare gases exports to Singapore exceeded the volume sent to the second major destination, New Zealand (X cubic meters), fourfold. China (X cubic meters) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+1.0% per year) and China (-2.1% per year).

In value terms, Singapore ($X) remains the key foreign market for rare gases (excluding argon) exports from Australia, comprising 54% of total exports. The second position in the ranking was held by China ($X), with a 19% share of total exports. It was followed by South Korea, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+20.7% per year) and South Korea (+32.8% per year).

Export Prices by Country

The average rare gases export price stood at $X per cubic meter in 2022, rising by 12% against the previous year. Over the period under review, the export price showed a significant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 119%. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per cubic meter), while the average price for exports to New Zealand ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+34.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into Australia

In 2022, purchases abroad of rare gases (excluding argon) increased by 50% to X cubic meters for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, recorded a abrupt downturn. Over the period under review, imports reached the peak figure at X cubic meters in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, rare gases imports surged to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +47.0% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 48%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Portugal (X cubic meters) constituted the largest rare gases supplier to Australia, with a 44% share of total imports. Moreover, rare gases imports from Portugal exceeded the figures recorded by the second-largest supplier, Qatar (X cubic meters), twofold. The third position in this ranking was held by the United Arab Emirates (X cubic meters), with a 21% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Portugal stood at +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+9.9% per year) and the United Arab Emirates (+16.7% per year).

In value terms, Qatar ($X), the United States ($X) and Portugal ($X) constituted the largest rare gases suppliers to Australia, together comprising 82% of total imports.

Portugal, with a CAGR of +44.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rare gases import price stood at $X per cubic meter in 2022, dropping by -18.6% against the previous year. Overall, the import price, however, posted a strong expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 100% against the previous year. As a result, import price attained the peak level of $X per cubic meter, and then contracted rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per cubic meter), while the price for the United Arab Emirates ($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 Malaysia (+47.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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