Central Asia: Argon Market 2024

Argon Market Size in Central Asia

In 2022, the Central Asian argon market increased by 8% to $X, rising for the second consecutive year after five years of decline. In general, consumption recorded a remarkable increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Argon Production in Central Asia

In value terms, argon production amounted to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant expansion. The growth pace was the most rapid in 2017 when the production volume increased by 54%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Argon Exports

Exports in Central Asia

Argon exports expanded rapidly to X cubic meters in 2022, with an increase of 11% on the previous year. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,146% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, argon exports rose modestly to $X in 2022. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 449% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan prevails in exports structure, reaching X cubic meters, which was near 95% of total exports in 2022. It was distantly followed by Uzbekistan (X cubic meters), constituting a 4.5% share of total exports.

Kazakhstan was also the fastest-growing in terms of the argon exports, with a CAGR of +35.3% from 2012 to 2022. Uzbekistan (-29.1%) illustrated a downward trend over the same period. While the share of Uzbekistan (+4.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-4.6 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest argon supplier in Central Asia, comprising 89% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan amounted to +20.7%.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per cubic meter, shrinking by -6.6% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2016 an increase of 15% against the previous year. Over the period under review, the export prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Uzbekistan ($X per cubic meter), while Kazakhstan stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+3.2%).

Argon Imports

Imports in Central Asia

In 2022, argon imports in Central Asia shrank to X cubic meters, with a decrease of -9.1% compared with 2021 figures. In general, imports recorded a mild decline. The pace of growth appeared the most rapid in 2019 with an increase of 102% against the previous year. As a result, imports reached the peak of X cubic meters. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, argon imports shrank to $X in 2022. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 55%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Uzbekistan (X cubic meters) and Kazakhstan (X cubic meters) prevails in imports structure, together committing 80% of total imports. It was distantly followed by Turkmenistan (X cubic meters) and Tajikistan (X cubic meters), together committing a 12% share of total imports. The following importers - Mongolia (X cubic meters) and Kyrgyzstan (X cubic meters) - each resulted at an 8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Tajikistan (with a CAGR of +17.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Uzbekistan ($X) constitutes the largest market for imported argon in Central Asia, comprising 48% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 22% share of total imports. It was followed by Turkmenistan, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Uzbekistan stood at +22.9%. In the other countries, the average annual rates were as follows: Kazakhstan (-12.2% per year) and Turkmenistan (-16.6% per year).

Import Prices by Country

The import price in Central Asia stood at $X per cubic meter in 2022, rising by 8.9% against the previous year. Over the period under review, the import price, however, saw a deep slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 16% against the previous year. Over the period under review, import prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mongolia ($X per cubic meter), while Kazakhstan ($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 Uzbekistan (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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