Ecuador: Rare Gases Market 2024

Rare Gases Exports

Exports from Ecuador

In 2022, exports of rare gases (excluding argon) from Ecuador reduced sharply to X cubic meters, which is down by -54.9% compared with the year before. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 3,667% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, rare gases exports fell markedly to $X in 2022. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2021 when exports increased by 5,878%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X cubic meters), Peru (X cubic meters) and the United States (X cubic meters) were the main destinations of rare gases exports from Ecuador, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of -3.5%), while the other leaders experienced a decline.

In value terms, Colombia ($X) remains the key foreign market for rare gases (excluding argon) exports from Ecuador, comprising 82% of total exports. The second position in the ranking was taken by Peru ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (-14.6% per year) and the United States (-28.2% per year).

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, rising by 14% against the previous year. Overall, the export price showed a strong expansion. The growth pace was the most rapid in 2020 an increase of 154% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

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 Colombia ($X per cubic meter), while the average price for exports to the United States ($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 Colombia (+15.4%), while the prices for the other major destinations experienced mixed trend patterns.

Rare Gases Imports

Imports into Ecuador

In 2022, approx. X cubic meters of rare gases (excluding argon) were imported into Ecuador; which is down by -22% compared with 2021 figures. Overall, imports, however, saw notable growth. The pace of growth was the most pronounced in 2017 with an increase of 111%. Over the period under review, imports attained the peak figure at X cubic meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, rare gases imports contracted to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.3% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 56%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of rare gases to Ecuador, with a 59% share of total imports. Moreover, rare gases imports from the United States exceeded the figures recorded by the second-largest supplier, China (X cubic meters), twofold. The third position in this ranking was held by Chile (X cubic meters), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.6% per year) and Chile (+14.8% per year).

In value terms, the United States ($X) constituted the largest supplier of rare gases (excluding argon) to Ecuador, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Chile, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.3% per year) and Chile (+14.8% per year).

Import Prices by Country

In 2022, the average rare gases import price amounted to $X per cubic meter, surging by 19% against the previous year. Overall, import price indicated a prominent increase 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 increased by +71.0% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 43%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Peru ($X per cubic meter), while the price for China ($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 Peru (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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