Europe: Rare Gases Market 2024

Rare Gases Market Size in Europe

The Europe rare gases market totaled $X in 2022, increasing by 4.9% against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Rare Gases Production in Europe

In value terms, rare gases production expanded rapidly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 34% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Rare Gases Exports

Exports in Europe

In 2022, shipments abroad of rare gases (excluding argon) decreased by -1.5% to X cubic meters for the first time since 2016, thus ending a five-year rising trend. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.7% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. The volume of export peaked at X cubic meters in 2021, and then dropped modestly in the following year.

In value terms, rare gases exports declined to $X in 2022. Overall, exports, however, posted resilient growth. The growth pace was the most rapid in 2020 when exports increased by 35% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

The shipments of the twelve major exporters of rare gases (excluding argon), namely the Netherlands, Italy, Germany, France, Belgium, Spain, Romania, Portugal, the UK, the Czech Republic, Poland and Russia, represented more than two-thirds of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Romania (with a CAGR of +43.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rare gases supplying countries in Europe were France ($X), Germany ($X) and Poland ($X), with a combined 50% share of total exports. These countries were followed by Russia, Belgium, the Netherlands, Italy, Portugal, the UK, Spain, the Czech Republic and Romania, which together accounted for a further 32%.

Portugal, with a CAGR of +28.3%, 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, shrinking by -5.6% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 19%. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2021, and then reduced in the following year.

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 France ($X per cubic meter), while Romania ($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 Portugal (+15.9%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in Europe

After four years of growth, overseas purchases of rare gases (excluding argon) decreased by -6.4% to X cubic meters in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 9.7%. Over the period under review, imports reached the maximum at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, rare gases imports rose significantly to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.8% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 28% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the UK (X cubic meters), France (X cubic meters), Germany (X cubic meters), Italy (X cubic meters) and Belgium (X cubic meters) represented the major importer of rare gases (excluding argon) in Europe, achieving 68% of total import. The following importers - the Netherlands (X cubic meters), Sweden (X cubic meters), Slovakia (X cubic meters), Switzerland (X cubic meters), Spain (X cubic meters), Austria (X cubic meters), Denmark (X cubic meters) and Russia (X cubic meters) - together made up 20% 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 Russia (with a CAGR of +22.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the UK ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 51% of total imports. These countries were followed by Italy, Belgium, Austria, Spain, the Netherlands, Switzerland, Russia, Denmark, Sweden and Slovakia, which together accounted for a further 32%.

Russia, with a CAGR of +26.8%, recorded the highest growth rate of the value of imports, among the main importing countries 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 Europe stood at $X per cubic meter in 2022, surging by 15% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2016 when the import price increased by 19% against the previous year. Over the period under review, import prices attained the maximum 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 Austria ($X per cubic meter), while Slovakia ($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 Spain (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform