Finland: Argon Market 2024

Argon Market Size in Finland

The Finnish argon market dropped remarkably to $X in 2022, declining by -25.8% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 -29.3% against 2018 indices. Argon consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Argon Production in Finland

In value terms, argon production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 55% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Argon Exports

Exports from Finland

Argon exports from Finland totaled X cubic meters in 2022, stabilizing at the year before. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 4.2% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, argon exports totaled $X in 2022. Overall, exports recorded a prominent increase. The smallest decline of -9.7% was in 2013. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Latvia (X cubic meters) was the main destination for argon exports from Finland, accounting for a 79% share of total exports. Moreover, argon exports to Latvia exceeded the volume sent to the second major destination, Estonia (X cubic meters), fivefold. The third position in this ranking was held by Sweden (X cubic meters), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Latvia stood at +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+191.7% per year) and Sweden (+48.6% per year).

It was followed by Estonia, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +72.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+3.5% per year) and Estonia (+136.7% per year).

Export Prices by Country

In 2022, the average argon export price amounted to $X per cubic meter, remaining relatively unchanged against the previous year. Overall, the export price recorded a deep setback. The pace of growth appeared the most rapid in 2013 when the average export price decreased by -13.3%. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per cubic meter), while the average price for exports to Latvia ($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 Sweden (+16.1%), while the prices for the other major destinations experienced a decline.

Argon Imports

Imports into Finland

In 2022, the amount of argon imported into Finland contracted modestly to X cubic meters, shrinking by -5% against the previous year. In general, imports, however, showed a measured expansion. The pace of growth was the most pronounced in 2014 with an increase of 316% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, argon imports reduced to $X in 2022. Over the period under review, imports, however, posted a tangible increase. The growth pace was the most rapid in 2014 with an increase of 198%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X cubic meters) constituted the largest supplier of argon to Finland, accounting for a 66% share of total imports. Moreover, argon imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.9% per year) and the Netherlands (+24.5% per year).

In value terms, the largest argon suppliers to Finland were Sweden ($X), Germany ($X) and the Netherlands ($X), together comprising 91% of total imports.

The Netherlands, with a CAGR of +14.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, which is down by -4.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per cubic meter), while the price for Sweden ($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 Sweden (+4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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