MENA: Rare Gases Market 2024

Rare Gases Market Size in MENA

The MENA's rare gases market declined to $X in 2022, falling by -5.6% against the previous year. Overall, consumption, however, enjoyed prominent growth. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Rare Gases Production in MENA

In value terms, rare gases production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient increase. The growth pace was the most rapid in 2014 with an increase of 32% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports in MENA

In 2022, exports of rare gases (excluding argon) in MENA stood at X cubic meters, with an increase of 2.8% on the previous year. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +45.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 49%. As a result, the exports attained the peak of X cubic meters. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, rare gases exports reduced to $X in 2022. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 54% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

Algeria represented the largest exporting country with an export of about X cubic meters, which reached 70% of total exports. Turkey (X cubic meters) held the second position in the ranking, followed by the United Arab Emirates (X cubic meters). All these countries together held near 28% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to rare gases exports from Algeria stood at +3.1%. At the same time, Turkey (+43.6%) and the United Arab Emirates (+9.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +43.6% from 2012-2022. Turkey (+16 p.p.) and the United Arab Emirates (+3.7 p.p.) significantly strengthened its position in terms of the total exports, while Algeria saw its share reduced by -18.3% from 2012 to 2022, respectively.

In value terms, Algeria ($X) remains the largest rare gases supplier in MENA, comprising 85% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.8% share of total exports.

In Algeria, rare gases exports increased at an average annual rate of +9.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+8.4% per year) and Turkey (+41.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per cubic meter, declining by -12.7% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price 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, rare gases export price decreased by -14.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 39%. As a result, the export price attained the peak level of $X per cubic meter. From 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Algeria ($X per cubic meter), while Turkey ($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 Algeria (+6.2%), while the other leaders experienced a decline in the export price figures.

Rare Gases Imports

Imports in MENA

In 2022, supplies from abroad of rare gases (excluding argon) increased by 1.8% to X cubic meters, rising for the sixth year in a row after four years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, rare gases imports surged to $X in 2022. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Israel (X cubic meters), distantly followed by the United Arab Emirates (X cubic meters), Iran (X cubic meters), Saudi Arabia (X cubic meters), Turkey (X cubic meters) and Oman (X cubic meters) were the main importers of rare gases (excluding argon), together mixing up 79% of total imports. Morocco (X cubic meters), Kuwait (X cubic meters), Iraq (X cubic meters), Bahrain (X cubic meters), Egypt (X cubic meters) and Jordan (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Morocco (with a CAGR of +25.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, together comprising 71% of total imports. Saudi Arabia, Iran, Egypt, Kuwait, Morocco, Iraq, Oman, Jordan and Bahrain lagged somewhat behind, together accounting for a further 26%.

In terms of the main importing countries, Morocco, with a CAGR of +18.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per cubic meter, surging by 15% against the previous year. Over the period under review, the import price saw resilient growth. The pace of growth was the most pronounced in 2013 an increase of 33%. The level of import peaked at $X per cubic meter in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per cubic meter), while Oman ($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 the United Arab Emirates (+21.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform