Malaysia: Argon Market 2024

Argon Market Size in Malaysia

The Malaysian argon market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Argon consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Argon Production in Malaysia

In value terms, argon production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 36% against the previous year. Argon production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Argon Exports

Exports from Malaysia

After four years of growth, overseas shipments of argon decreased by -15.2% to X cubic meters in 2022. Over the period under review, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 98%. Over the period under review, the exports hit record highs at X cubic meters in 2021, and then reduced markedly in the following year.

In value terms, argon exports declined markedly to $X in 2022. Overall, exports, however, showed temperate growth. The most prominent rate of growth was recorded in 2019 with an increase of 88%. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

Thailand (X cubic meters), Singapore (X cubic meters) and Indonesia (X cubic meters) were the main destinations of argon exports from Malaysia, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +22.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) appeared to be the largest markets for argon exported from Malaysia worldwide, together accounting for 95% of total exports.

Among the main countries of destination, Singapore, with a CAGR of +18.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average argon export price amounted to $X per cubic meter, almost unchanged from the previous year. Over the period under review, the export price showed a perceptible slump. The most prominent rate of growth was recorded in 2020 an increase of 5.4% against the previous year. The export price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per cubic meter), while the average price for exports to Singapore ($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 Australia (+9.1%), while the prices for the other major destinations experienced a decline.

Argon Imports

Imports into Malaysia

In 2022, purchases abroad of argon increased by 36% to X cubic meters for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, faced a abrupt decline. The growth pace was the most rapid in 2015 with an increase of 245% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, argon imports surged to $X in 2022. Overall, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 242%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X cubic meters) constituted the largest supplier of argon to Malaysia, with a 86% share of total imports. Moreover, argon imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X cubic meters), more than tenfold. Indonesia (X cubic meters) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-35.2% per year) and Indonesia (-12.3% per year).

In value terms, China ($X) constituted the largest supplier of argon to Malaysia, comprising 72% of total imports. The second position in the ranking was held by Singapore ($X), with a 14% share of total imports. It was followed by Indonesia, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-32.3% per year) and Indonesia (+7.7% per year).

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, approximately equating the previous year. In general, the import price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 50%. Over the period under review, average import prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per cubic meter), while the price for China ($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 Indonesia (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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