MERCOSUR: Rare Gases Market 2024

Rare Gases Exports

Exports in MERCOSUR

After two years of growth, overseas shipments of rare gases (excluding argon) decreased by -9.9% to X cubic meters in 2022. Over the period under review, exports recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when exports increased by 114% against the previous year. Over the period under review, the exports reached the peak figure at X cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, rare gases exports fell to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 124%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil was the major exporter of rare gases (excluding argon) in MERCOSUR, with the volume of exports amounting to X cubic meters, which was approx. 57% of total exports in 2022. Colombia (X cubic meters) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Chile (15%). The following exporters - Peru (X cubic meters) and Venezuela (X cubic meters) - each recorded a 7.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to rare gases exports from Brazil stood at -4.7%. At the same time, Venezuela (+24.9%), Chile (+13.9%) and Peru (+10.8%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +24.9% from 2012-2022. Colombia experienced a relatively flat trend pattern. While the share of Chile (+12 p.p.), Colombia (+3.6 p.p.), Venezuela (+3.2 p.p.) and Peru (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Brazil (-13 p.p.) displayed negative dynamics.

In value terms, the largest rare gases supplying countries in MERCOSUR were Brazil ($X), Chile ($X) and Colombia ($X), together comprising 94% of total exports. These countries were followed by Peru and Venezuela, which together accounted for a further 4.1%.

Venezuela, with a CAGR of +21.7%, saw the highest rates of growth with regard to the value of exports, among 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 MERCOSUR amounted to $X per cubic meter, declining by -4.1% against the previous year. Overall, the export price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 when the export price increased by 63%. As a result, the export price reached the peak level of $X per cubic meter, and then declined modestly 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 Chile ($X per cubic meter), while Colombia ($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 Brazil (+7.6%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in MERCOSUR

In 2022, rare gases imports in MERCOSUR fell to X cubic meters, declining by -10.6% compared with 2021 figures. Overall, imports recorded a perceptible shrinkage. The growth pace was the most rapid in 2021 when imports increased by 20% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, rare gases imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 20%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Brazil was the key importing country with an import of around X cubic meters, which finished at 41% of total imports. Ecuador (X cubic meters) ranks second in terms of the total imports with a 17% share, followed by Guyana (8.2%), Colombia (7.9%), Argentina (7.3%) and Peru (4.7%). The following importers - Chile (X cubic meters) and Uruguay (X cubic meters) - each accounted for an 8.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to rare gases imports into Brazil stood at -3.9%. At the same time, Guyana (+15.4%), Uruguay (+3.7%) and Ecuador (+2.8%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +15.4% from 2012-2022. By contrast, Colombia (-3.3%), Peru (-3.6%), Chile (-7.3%) and Argentina (-8.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ecuador, Guyana and Uruguay increased by +7.5, +6.7 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported rare gases (excluding argon) in MERCOSUR, comprising 58% of total imports. The second position in the ranking was held by Chile ($X), with a 14% share of total imports. It was followed by Argentina, with a 12% share.

In Brazil, rare gases imports expanded at an average annual rate of +5.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+5.9% per year) and Argentina (-0.3% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per cubic meter in 2022, picking up by 11% against the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rare gases import price decreased by -1.3% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 40% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2021 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per cubic meter), while Guyana ($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 Chile (+14.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform