Belgium: Rare Gases Market 2024

Rare Gases Market Size in Belgium

The Belgian rare gases market reduced rapidly to $X in 2022, which is down by -25.6% against the previous year. In general, consumption, however, recorded a strong expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Rare Gases Production in Belgium

In value terms, rare gases production soared to $X in 2022 estimated in export price. Over the period under review, production saw a prominent increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 118% against the previous year. Rare gases production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports from Belgium

In 2022, shipments abroad of rare gases (excluding argon) decreased by -37.3% to X cubic meters, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, showed mild growth. The pace of growth was the most pronounced in 2020 with an increase of 44%. As a result, the exports reached the peak of X cubic meters. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, rare gases exports contracted dramatically to $X in 2022. In general, exports showed a pronounced setback. The pace of growth was the most pronounced in 2020 with an increase of 126% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X cubic meters), the Netherlands (X cubic meters) and France (X cubic meters) were the main destinations of rare gases exports from Belgium, with a combined 88% share of total exports. These countries were followed by the UK and Italy, which together accounted for a further 5.3%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +9.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rare gases exported from Belgium were Germany ($X), the Netherlands ($X) and France ($X), together comprising 82% of total exports.

In terms of the main countries of destination, France, with a CAGR of +2.5%, 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 mixed trend patterns.

Export Prices by Country

The average rare gases export price stood at $X per cubic meter in 2022, reducing by -8.3% against the previous year. In general, the export price recorded a noticeable descent. The growth pace was the most rapid in 2020 an increase of 57% against the previous year. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per cubic meter), while the average price for exports to Italy ($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 the UK (+5.0%), while the prices for the other major destinations experienced a decline.

Rare Gases Imports

Imports into Belgium

In 2022, rare gases imports into Belgium reduced rapidly to X cubic meters, falling by -49.9% against the year before. Overall, imports, however, recorded a perceptible increase. The growth pace was the most rapid in 2018 when imports increased by 69% against the previous year. Imports peaked at X cubic meters in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, rare gases imports declined significantly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 105% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X cubic meters), the Netherlands (X cubic meters) and France (X cubic meters) were the main suppliers of rare gases imports to Belgium, together accounting for 76% of total imports. These countries were followed by Germany, Ireland, Algeria, Spain and Poland, which together accounted for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +184.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of rare gases (excluding argon) to Belgium, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Germany, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.3% per year) and Germany (+0.3% per year).

Import Prices by Country

The average rare gases import price stood at $X per cubic meter in 2022, with an increase of 23% against the previous year. Overall, the import price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2020 when the average import price increased by 23%. The import price peaked at $X per cubic meter in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for the Netherlands ($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 the United Arab Emirates (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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