Malaysia: Rare Gases Market 2024

Rare Gases Market Size in Malaysia

The Malaysian rare gases market rose slightly to $X in 2022, increasing by 4.7% against the previous year. Over the period under review, consumption continues to indicate a strong expansion. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Rare Gases Production in Malaysia

In value terms, rare gases production amounted to $X in 2022 estimated in export price. Overall, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2019 when the production volume increased by 24%. Rare gases production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Rare Gases Exports

Exports from Malaysia

In 2022, approx. X cubic meters of rare gases (excluding argon) were exported from Malaysia; declining by -27.7% on the previous year's figure. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 when exports increased by 515% against the previous year. The exports peaked at X cubic meters in 2021, and then reduced sharply in the following year.

In value terms, rare gases exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 545% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Singapore (X cubic meters), Indonesia (X cubic meters) and Thailand (X cubic meters) were the main destinations of rare gases exports from Malaysia, with a combined 69% share of total exports. These countries were followed by Vietnam, Australia, the Philippines and Taiwan (Chinese), which together accounted for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +38.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rare gases exported from Malaysia were Singapore ($X), Indonesia ($X) and Thailand ($X), together comprising 70% of total exports. Vietnam, Australia, the Philippines and Taiwan (Chinese) lagged somewhat behind, together comprising a further 26%.

In terms of the main countries of destination, Vietnam, with a CAGR of +40.0%, saw 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 average rare gases export price amounted to $X per cubic meter, picking up by 27% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rare gases export price decreased by -31.3% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 33%. As a result, the export price reached the peak level of $X per cubic meter. From 2021 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($X per cubic meter) and the Philippines ($X per cubic meter), while the average price for exports to Australia ($X per cubic meter) and Thailand ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into Malaysia

In 2022, rare gases imports into Malaysia shrank to X cubic meters, waning by -6.6% on the previous year's figure. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 when imports increased by 18% against the previous year. Imports peaked at X cubic meters in 2021, and then contracted in the following year.

In value terms, rare gases imports shrank to $X in 2022. Overall, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2013 when imports increased by 35%. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Qatar (X cubic meters) constituted the largest supplier of rare gases to Malaysia, with a 60% share of total imports. Moreover, rare gases imports from Qatar exceeded the figures recorded by the second-largest supplier, Singapore (X cubic meters), twofold. The third position in this ranking was held by the United States (X cubic meters), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Qatar stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-0.4% per year) and the United States (+12.1% per year).

In value terms, Qatar ($X) constituted the largest supplier of rare gases (excluding argon) to Malaysia, comprising 60% of total imports. The second position in the ranking was held by Singapore ($X), with a 24% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Qatar totaled +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+7.9% per year) and the United States (+21.4% per year).

Import Prices by Country

The average rare gases import price stood at $X per cubic meter in 2022, leveling off at the previous year. In general, the import price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 26%. Over the period under review, average import prices reached the maximum at $X per cubic meter in 2021, and then declined modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per cubic meter) and China ($X per cubic meter), while the price for Singapore ($X per cubic meter) and Qatar ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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