Europe: Argon Market 2024

Argon Market Size in Europe

The Europe argon market stood at $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the market value increased by 9.5%. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Argon Production in Europe

In value terms, argon production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 11%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Argon Exports

Exports in Europe

In 2022, argon exports in Europe rose modestly to X cubic meters, with an increase of 4.5% against 2021. 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 growth pace was the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, argon exports stood at $X in 2022. The total export value increased at an average annual rate of +3.0% 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 with an increase of 18%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Germany (X cubic meters), the Netherlands (X cubic meters) and Belgium (X cubic meters) represented roughly 51% of total exports in 2022. It was distantly followed by Spain (X cubic meters), Austria (X cubic meters) and the Czech Republic (X cubic meters), together comprising a 15% share of total exports. The UK (X cubic meters), Finland (X cubic meters), Poland (X cubic meters), Serbia (X cubic meters), Sweden (X cubic meters), France (X cubic meters) and Romania (X cubic meters) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +19.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest argon supplying countries in Europe were Germany ($X), the Netherlands ($X) and Belgium ($X), with a combined 44% share of total exports. Austria, the Czech Republic, Poland, the UK, Serbia, Spain, Romania, France, Finland and Sweden lagged somewhat behind, together comprising a further 38%.

Sweden, with a CAGR of +17.3%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in Europe amounted to $X per cubic meter, growing by 7.7% against the previous year. Over the period under review, the export price showed a modest increase. The pace of growth was the most pronounced in 2020 when the export price increased by 10%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

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 Europe

In 2022, the amount of argon imported in Europe amounted to X cubic meters, surging by 8.4% on the previous year's figure. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2019 with an increase of 11% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, argon imports soared to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +74.0% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 21%. 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), the UK (X cubic meters), Germany (X cubic meters), Poland (X cubic meters), Ireland (X cubic meters) and the Netherlands (X cubic meters) were the key importers of argon, together making up 55% of total imports. Slovenia (X cubic meters), Portugal (X cubic meters), Hungary (X cubic meters), Spain (X cubic meters), Denmark (X cubic meters) and Russia (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 leading 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 ($X) constitutes the largest market for imported argon in Europe, comprising 19% of total imports. The second position in the ranking was taken by France ($X), with a 7.4% share of total imports. It was followed by Poland, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value in Italy stood at +7.3%. The remaining importing countries recorded the following average annual rates of imports growth: France (-0.1% per year) and Poland (+10.7% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per cubic meter, picking up by 8.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 9.7%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 ($X per cubic meter), while Russia ($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