China: Rare Gases Market 2024

Rare Gases Market Size in China

The Chinese rare gases market surged to $X in 2022, picking up by 29% against the previous year. In general, consumption continues to indicate a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Rare Gases Production in China

In value terms, rare gases production rose notably to $X in 2022 estimated in export price. In general, production recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 35%. Rare gases production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports from China

In 2022, the amount of rare gases (excluding argon) exported from China fell rapidly to X cubic meters, with a decrease of -43.4% on the previous year. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 288%. As a result, the exports reached the peak of X cubic meters. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, rare gases exports reduced to $X in 2022. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 605%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

South Korea (X cubic meters), the United States (X cubic meters) and Singapore (X cubic meters) were the main destinations of rare gases exports from China, with a combined 82% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +220.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the key foreign market for rare gases (excluding argon) exports from China, comprising 65% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by the United States, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea stood at +77.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+57.2% per year) and the United States (+234.9% per year).

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, rising by 59% against the previous year. Over the period under review, the export price recorded a significant increase. The growth pace was the most rapid in 2015 an increase of 82%. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per cubic meter), while the average price for exports to Vietnam ($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 South Korea (+34.8%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into China

In 2022, purchases abroad of rare gases (excluding argon) increased by 140% to X cubic meters, rising for the second year in a row after two years of decline. Overall, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports surged to $X in 2022. In general, imports posted a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Qatar (X cubic meters) constituted the largest supplier of rare gases to China, accounting for a 77% share of total imports. Moreover, rare gases imports from Qatar exceeded the figures recorded by the second-largest supplier, the United States (X cubic meters), eightfold. Australia (X cubic meters) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Qatar totaled +32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.9% per year) and Australia (+0.2% per year).

In value terms, Qatar ($X) constituted the largest supplier of rare gases (excluding argon) to China, comprising 54% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by Australia, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Qatar stood at +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.2% per year) and Australia (+6.3% per year).

Import Prices by Country

In 2022, the average rare gases import price amounted to $X per cubic meter, declining by -28.2% against the previous year. In general, the import price, however, saw a modest expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 24%. The import price peaked at $X per cubic meter in 2020; however, from 2021 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 the United States ($X per cubic meter), while the price for Qatar ($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 (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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