Belgium: Argon Market 2024

Argon Market Size in Belgium

In 2022, the Belgian argon market decreased by -3.1% to $X for the first time since 2019, thus ending a two-year rising trend. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Argon Production in Belgium

In value terms, argon production reached $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Argon Exports

Exports from Belgium

In 2022, shipments abroad of argon decreased by -5.5% to X cubic meters, falling for the third year in a row after four years of growth. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 62%. The exports peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, argon exports dropped to $X in 2022. In general, exports recorded a mild reduction. The most prominent rate of growth was recorded in 2019 with an increase of 12%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

France (X cubic meters), the Netherlands (X cubic meters) and Germany (X cubic meters) were the main destinations of argon exports from Belgium, together accounting for 72% of total exports. These countries were followed by the UK, Spain, Denmark and Luxembourg, which together accounted for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +47.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for argon exported from Belgium were France ($X), the Netherlands ($X) and Germany ($X), with a combined 72% share of total exports. These countries were followed by the UK, Luxembourg, Denmark and Spain, which together accounted for a further 19%.

In terms of the main countries of destination, Spain, with a CAGR of +35.9%, 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 average argon export price amounted to $X per cubic meter, with a decrease of -5.7% against the previous year. Overall, the export price saw a mild curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 26%. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per cubic meter), while the average price for exports to Spain ($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 Luxembourg (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

Argon Imports

Imports into Belgium

In 2022, approx. X cubic meters of argon were imported into Belgium; with a decrease of -39.4% compared with the previous year's figure. Overall, imports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 55% against the previous year. As a result, imports reached the peak of X cubic meters. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, argon imports declined sharply to $X in 2022. In general, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2020 when imports increased by 65% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X cubic meters), Germany (X cubic meters) and Spain (X cubic meters) were the main suppliers of argon imports to Belgium, together accounting for 96% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +92.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest argon suppliers to Belgium were the Netherlands ($X), Germany ($X) and France ($X), with a combined 95% share of total imports. These countries were followed by Spain and Italy, which together accounted for a further 2.6%.

Spain, with a CAGR of +84.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average argon import price stood at $X per cubic meter in 2022, shrinking by -3.9% against the previous year. In general, the import price saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2020 when the average import price increased by 47%. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per cubic meter), while the price for Italy ($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 France (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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