Denmark: Rare Gases Market 2024

Rare Gases Market Size in Denmark

In 2022, the Danish rare gases market decreased by -33.1% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, saw buoyant growth. Over the period under review, the market hit record highs at $X in 2021, and then shrank dramatically in the following year.

Rare Gases Production in Denmark

In value terms, rare gases production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 8.3% against the previous year. Rare gases production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports from Denmark

Rare gases exports from Denmark expanded significantly to X cubic meters in 2022, increasing by 6.1% against 2021. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 131% against the previous year. The exports peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, rare gases exports skyrocketed to $X in 2022. In general, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 68%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Sweden (X cubic meters) was the main destination for rare gases exports from Denmark, accounting for a 73% share of total exports. Moreover, rare gases exports to Sweden exceeded the volume sent to the second major destination, Faroe Islands (X cubic meters), sevenfold. The third position in this ranking was taken by Finland (X cubic meters), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden totaled +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Faroe Islands (+46.6% per year) and Finland (+66.6% per year).

In value terms, Sweden ($X) remains the key foreign market for rare gases (excluding argon) exports from Denmark, comprising 81% of total exports. The second position in the ranking was held by Norway ($X), with a 6% share of total exports. It was followed by Finland, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to +15.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-6.3% per year) and Finland (+38.7% per year).

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, with an increase of 33% against the previous year. In general, the export price, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2013 an increase of 53%. The export price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Norway ($X per cubic meter), while the average price for exports to Faroe Islands ($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 Norway (+9.0%), while the prices for the other major destinations experienced a decline.

Rare Gases Imports

Imports into Denmark

In 2022, overseas purchases of rare gases (excluding argon) increased by 93% to X cubic meters, rising for the second consecutive year after two years of decline. Overall, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports soared to $X in 2022. Over the period under review, imports saw a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X cubic meters) constituted the largest rare gases supplier to Denmark, accounting for a 50% share of total imports. Moreover, rare gases imports from Germany exceeded the figures recorded by the second-largest supplier, Norway (X cubic meters), threefold. The third position in this ranking was held by Qatar (X cubic meters), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+34.1% per year) and Qatar (+20.8% per year).

In value terms, Germany ($X), Qatar ($X) and Finland ($X) appeared to be the largest rare gases suppliers to Denmark, together comprising 74% of total imports. Sweden, Norway, France, Belgium, China and the United States lagged somewhat behind, together comprising a further 13%.

China, with a CAGR of +135.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rare gases import price stood at $X per cubic meter in 2022, dropping by -5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2014 when the average import price increased by 36%. As a result, import price attained the peak level of $X per cubic meter. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for China ($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 States (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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