CIS: Argon Market 2024

Argon Market Size in CIS

For the fourth year in a row, the CIS argon market recorded growth in sales value, which increased by 13% to $X in 2022. In general, consumption continues to indicate a moderate increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Argon Production in CIS

In value terms, argon production rose markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2020 with an increase of 84%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Argon Exports

Exports in CIS

In 2022, exports of argon in the CIS surged to X cubic meters, growing by 54% on the previous year's figure. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 719% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, argon exports surged to $X in 2022. Over the period under review, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 when exports increased by 108% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Kazakhstan (X cubic meters), Russia (X cubic meters), Moldova (X cubic meters) and Belarus (X cubic meters) was the main exporter of argon in the CIS, mixing up 99% of total export.

From 2012 to 2022, the biggest increases were recorded for Moldova (with a CAGR of +77.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Moldova ($X), Russia ($X) and Belarus ($X) were the countries with the highest levels of exports in 2022, together accounting for 91% of total exports.

Moldova, with a CAGR of +107.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per cubic meter in 2022, jumping by 25% against the previous year. In general, the export price, however, recorded a drastic downturn. The growth pace was the most rapid in 2020 an increase of 50% against the previous year. Over the period under review, the export prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Moldova ($X per cubic meter), while Kazakhstan ($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 Moldova (+16.9%), while the other leaders experienced a decline in the export price figures.

Argon Imports

Imports in CIS

In 2022, approx. X cubic meters of argon were imported in the CIS; growing by 12% compared with the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 94% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, argon imports skyrocketed to $X in 2022. In general, imports, however, saw a perceptible contraction. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X cubic meters) represented the largest importer of argon, constituting 45% of total imports. Belarus (X cubic meters) took the second position in the ranking, followed by Moldova (X cubic meters) and Azerbaijan (X cubic meters). All these countries together held approx. 46% share of total imports. Uzbekistan (X cubic meters), Kazakhstan (X cubic meters) and Armenia (X cubic meters) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Moldova (with a CAGR of +40.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest argon importing markets in the CIS were Moldova ($X), Russia ($X) and Belarus ($X), with a combined 67% share of total imports.

Moldova, with a CAGR of +29.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per cubic meter, with an increase of 34% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable downturn. Over the period under review, import prices hit record highs at $X per cubic meter in 2013; however, from 2014 to 2022, import prices remained at a 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 Armenia ($X per cubic meter), while Russia ($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 Uzbekistan (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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