Egypt: Argon Market 2024

Argon Market Size in Egypt

The Egyptian argon market dropped slightly to $X in 2022, which is down by -3.6% against the previous year. Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.9% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Argon Production in Egypt

In value terms, argon production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Argon Exports

Exports from Egypt

In 2022, after two years of decline, there was significant growth in shipments abroad of argon, when their volume increased by 1,925% to X cubic meters. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at X cubic meters in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, argon exports surged to $X in 2022. Over the period under review, exports, however, showed a mild curtailment. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X cubic meters) was the main destination for argon exports from Egypt, accounting for a 70% share of total exports. Moreover, argon exports to Turkey exceeded the volume sent to the second major destination, Libya (X cubic meters), sixfold. The third position in this ranking was held by Spain (X cubic meters), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (-2.5% per year) and Spain (0.0% per year).

In value terms, Turkey ($X) emerged as the key foreign market for argon exports from Egypt, comprising 70% of total exports. The second position in the ranking was taken by Libya ($X), with a 12% share of total exports. It was followed by Spain, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (-1.2% per year) and Spain (0.0% per year).

Export Prices by Country

The average argon export price stood at $X per cubic meter in 2022, surging by 17% against the previous year. Overall, the export price, however, saw a mild decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 27% against the previous year. As a result, the export price attained the peak level of $X per cubic meter. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Libya ($X per cubic meter) and Turkey ($X per cubic meter), while the average price for exports to Sudan ($X per cubic meter) and Spain ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+17.0%), while the prices for the other major destinations experienced mixed trend patterns.

Argon Imports

Imports into Egypt

In 2022, approx. X cubic meters of argon were imported into Egypt; declining by -98.9% compared with 2021. Overall, imports showed a sharp slump. The growth pace was the most rapid in 2016 when imports increased by 235%. Over the period under review, imports reached the maximum at X cubic meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, argon imports shrank sharply to $X in 2022. Over the period under review, imports faced a precipitous decrease. The pace of growth was the most pronounced in 2016 with an increase of 275% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Austria (X cubic meters) and the United States (X cubic meters) were the main suppliers of argon imports to Egypt.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of 0.0%).

In value terms, Austria ($X) and the United States ($X) appeared to be the largest argon suppliers to Egypt.

In terms of the main suppliers, Austria, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average argon import price stood at $X per cubic meter in 2022, jumping by 23% against the previous year. Over the period under review, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 30%. As a result, import price attained the peak level of $X per cubic meter. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per cubic meter), while the price for the United States amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :