Belarus: Argon Market 2024

Argon Market Size in Belarus

The Belarusian argon market rose notably to $X in 2022, growing by 7.2% against the previous year. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.1% against 2020 indices. Argon consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Argon Production in Belarus

In value terms, argon production reached $X in 2022 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 53% against the previous year. Argon production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Argon Exports

Exports from Belarus

Argon exports from Belarus skyrocketed to X cubic meters in 2022, jumping by 80% compared with the year before. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 1,618%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, argon exports surged to $X in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2015 when exports increased by 297%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X cubic meters), Poland (X cubic meters) and Ukraine (X cubic meters) were the main destinations of argon exports from Belarus.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +65.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for argon exports from Belarus, comprising 66% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +56.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+26.9% per year) and Ukraine (+62.7% per year).

Export Prices by Country

The average argon export price stood at $X per cubic meter in 2022, jumping by 64% against the previous year. In general, the export price, however, showed a abrupt downturn. Over the period under review, the average export prices reached the maximum at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per cubic meter), while the average price for exports to Poland ($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 Ukraine (+47.0%), while the prices for the other major destinations experienced more modest paces of growth.

Argon Imports

Imports into Belarus

Argon imports into Belarus surged to X cubic meters in 2022, growing by 71% against 2021 figures. Over the period under review, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 212%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, argon imports surged to $X in 2022. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 167% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Russia (X cubic meters) was the main supplier of argon to Belarus, with a 98% share of total imports. It was followed by Ukraine (X cubic meters), with a 0.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-8.1% per year) and Lithuania (-34.6% per year).

In value terms, Russia ($X) constituted the largest supplier of argon to Belarus, comprising 96% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 1.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Russia totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-7.6% per year) and Lithuania (-36.9% per year).

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, growing by 18% against the previous year. Overall, the import price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. The import price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per cubic meter), while the price for Russia ($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 Ukraine (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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