Middle East: Rare Gases Market 2024

Rare Gases Market Size in the Middle East

The Middle Eastern rare gases market fell notably to $X in 2022, reducing by -17.7% against the previous year. Overall, consumption, however, continues to indicate resilient growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Rare Gases Production in the Middle East

In value terms, rare gases production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by 60% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports in the Middle East

In 2022, the amount of rare gases (excluding argon) exported in the Middle East surged to X cubic meters, picking up by 342% against 2021. In general, exports showed a buoyant increase. The volume of export peaked at X cubic meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, rare gases exports skyrocketed to $X in 2022. Overall, exports recorded a strong expansion. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X cubic meters) and the United Arab Emirates (X cubic meters) prevails in exports structure, together committing 94% of total exports. Saudi Arabia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +43.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of +41.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per cubic meter in 2022, waning by -51.2% against the previous year. In general, the export price recorded a pronounced downturn. The pace of growth appeared the most rapid in 2019 an increase of 50% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2020 to 2022, the export prices remained at a lower figure.

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 the United Arab Emirates ($X per cubic meter), while Turkey ($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 the United Arab Emirates (-1.2%), while the other leaders experienced a decline in the export price figures.

Rare Gases Imports

Imports in the Middle East

In 2022, purchases abroad of rare gases (excluding argon) increased by 1.2% 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 pace of growth appeared the most rapid in 2018 with an increase of 18%. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, rare gases imports totaled $X in 2022. In general, imports continue to indicate strong growth. The growth pace was the most rapid in 2020 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady 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 largest importers of rare gases (excluding argon), together mixing up 85% of total imports. Kuwait (X cubic meters) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +14.7%), while purchases 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, with a combined 78% share of total imports.

In terms of the main importing countries, Israel, with a CAGR of +15.8%, 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 the Middle East amounted to $X per cubic meter, increasing by 14% against the previous year. Overall, the import price showed prominent growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 41% against the previous year. The level of import peaked at $X per cubic meter in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per cubic meter), while Oman ($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

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