EU: Argon Market 2024

Argon Market Size in the EU

The EU argon market dropped to $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Argon Production in the EU

In value terms, argon production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 15%. Over the period under review, production hit record highs at $X in 2021, and then shrank in the following year.

Argon Exports

Exports in the EU

In 2022, approx. X cubic meters of argon were exported in the European Union; increasing by 4.4% on the previous year. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, argon exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 16%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

The shipments of the three major exporters of argon, namely Germany, the Netherlands and Belgium, represented more than half of total export. Spain (X cubic meters) ranks next in terms of the total exports with a 6.3% share, followed by Austria (5.9%), the Czech Republic (5.4%) and Finland (4.5%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Finland (with a CAGR of +19.4%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 51% of total exports. These countries were followed by Austria, the Czech Republic, Spain and Finland, which together accounted for a further 23%.

Among the main exporting countries, Finland, with a CAGR of +10.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per cubic meter, rising by 6.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 9.8%. The level of export 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per cubic meter), while Finland ($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 Austria (+12.4%), while the other leaders experienced more modest paces of growth.

Argon Imports

Imports in the EU

Argon imports rose rapidly to X cubic meters in 2022, surging by 7.1% compared with 2021. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 14% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, argon imports soared to $X in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Italy (X cubic meters), followed by France (X cubic meters), Germany (X cubic meters), Poland (X cubic meters), Ireland (X cubic meters), the Netherlands (X cubic meters) and Slovenia (X cubic meters) represented the key importers of argon, together constituting 62% of total imports. Portugal (X cubic meters), Hungary (X cubic meters), Spain (X cubic meters), Denmark (X cubic meters), Sweden (X cubic meters) and Slovakia (X cubic meters) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ireland (with a CAGR of +12.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constitutes the largest market for imported argon in the European Union, comprising 22% of total imports. The second position in the ranking was held by France ($X), with an 8.8% share of total imports. It was followed by Poland, with an 8.5% share.

In Italy, argon imports expanded at an average annual rate of +7.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (-0.1% per year) and Poland (+10.7% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per cubic meter, surging by 7.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 13%. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per cubic meter), while Spain ($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 Poland (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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