Eastern Asia: Rare Gases Market 2024

Rare Gases Market Size in Eastern Asia

The East Asian rare gases market surged to $X in 2022, with an increase of 25% against the previous year. Overall, consumption recorded a resilient increase. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in years to come.

Rare Gases Production in Eastern Asia

In value terms, rare gases production rose sharply to $X in 2022 estimated in export price. Over the period under review, production showed a prominent expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 36%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Rare Gases Exports

Exports in Eastern Asia

In 2022, the amount of rare gases (excluding argon) exported in Eastern Asia fell to X cubic meters, which is down by -5.5% compared with the previous year. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 127%. 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. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 99% against the previous year. The level of export peaked at $X in 2021, and then shrank slightly in the following year.

Exports by Country

South Korea was the main exporting country with an export of around X cubic meters, which accounted for 46% of total exports. Hong Kong SAR (X cubic meters) took the second position in the ranking, followed by China (X cubic meters). All these countries together held approx. 49% share of total exports. Taiwan (Chinese) (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +12.2%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

China, with a CAGR of +34.1%, recorded the highest rates of growth with regard to the value of exports, among 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 Eastern Asia stood at $X per cubic meter in 2022, remaining constant against the previous year. In general, the export price showed strong growth. The pace of growth appeared the most rapid in 2020 an increase of 58%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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 China ($X per cubic meter), while Taiwan (Chinese) ($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 China (+25.9%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in Eastern Asia

In 2022, approx. X cubic meters of rare gases (excluding argon) were imported in Eastern Asia; picking up by 67% compared with the year before. In general, imports recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

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

Imports by Country

China was the key importing country with an import of about X cubic meters, which accounted for 65% of total imports. South Korea (X cubic meters) ranks second in terms of the total imports with a 14% share, followed by Japan (10%) and Taiwan (Chinese) (9.4%). Hong Kong SAR (X cubic meters) took a relatively small share of total imports.

China was also the fastest-growing in terms of the rare gases (excluding argon) imports, with a CAGR of +18.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+5.0%), South Korea (+2.2%) and Hong Kong SAR (+1.9%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +36 percentage points.

In value terms, the largest rare gases importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 87% share of total imports.

In terms of the main importing countries, China, with a CAGR of +19.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per cubic meter in 2022, falling by -18% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rare gases import price decreased by -19.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 31% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2021 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per cubic meter), while China ($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 Japan (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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