Denmark: Argon Market 2024

Argon Market Size in Denmark

The Danish argon market totaled $X in 2022, increasing by 9.6% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Argon Production in Denmark

In value terms, argon production declined slightly to $X in 2022 estimated in export price. Overall, production showed a prominent increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 87%. Argon production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Argon Exports

Exports from Denmark

In 2022, approx. X cubic meters of argon were exported from Denmark; with a decrease of -59.9% on 2021. Over the period under review, exports saw a drastic downturn. The pace of growth was the most pronounced in 2021 with an increase of 318% against the previous year. The exports peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, argon exports shrank sharply to $X in 2022. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 95% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X cubic meters) was the main destination for argon exports from Denmark, with a 78% share of total exports. Moreover, argon exports to Sweden exceeded the volume sent to the second major destination, Faroe Islands (X cubic meters), sevenfold. Germany (X cubic meters) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to -12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+21.4% per year) and Germany (+26.7% per year).

In value terms, Sweden ($X) remains the key foreign market for argon exports from Denmark, comprising 66% of total exports. The second position in the ranking was held by Faroe Islands ($X), with a 16% share of total exports. It was followed by Finland, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+18.8% per year) and Finland (+18.4% per year).

Export Prices by Country

The average argon export price stood at $X per cubic meter in 2022, growing by 99% against the previous year. Over the period under review, the export price showed a buoyant increase. The pace of growth appeared the most rapid in 2019 an increase of 100% against the previous year. Over the period under review, the average export prices reached the maximum at $X per cubic meter in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per cubic meter), while the average price for exports to Norway ($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 Finland (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Argon Imports

Imports into Denmark

In 2022, imports of argon into Denmark declined slightly to X cubic meters, approximately equating the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 70%. Over the period under review, imports reached the maximum at X cubic meters in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, argon imports expanded to $X in 2022. In general, imports continue to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 65%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X cubic meters) constituted the largest supplier of argon to Denmark, with a 65% share of total imports. Moreover, argon imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X cubic meters), fourfold. The third position in this ranking was taken by Sweden (X cubic meters), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.2% per year) and Sweden (+25.6% per year).

In value terms, Germany ($X) constituted the largest supplier of argon to Denmark, comprising 56% of total imports. The second position in the ranking was taken by Belgium ($X), with a 20% share of total imports. It was followed by Sweden, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-0.9% per year) and Sweden (+28.6% per year).

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, increasing by 3.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 14%. The import price peaked at $X per cubic meter in 2012; however, from 2013 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 the Netherlands ($X per cubic meter), while the price for Germany ($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 Sweden (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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