Northern America: Rare Gases Market 2024

Rare Gases Market Size in Northern America

The North American rare gases market declined rapidly to $X in 2022, with a decrease of -26.1% against the previous year. Overall, consumption recorded a perceptible shrinkage. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Rare Gases Production in Northern America

In value terms, rare gases production reduced to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +16.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Rare Gases Exports

Exports in Northern America

In 2022, shipments abroad of rare gases (excluding argon) increased by 24% to X cubic meters, rising for the fourth year in a row after three years of decline. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 82%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, rare gases exports surged to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States prevails in exports structure, reaching X cubic meters, which was near 98% of total exports in 2022. Canada (X cubic meters) took a minor share of total exports.

Exports from the United States increased at an average annual rate of +10.2% from 2012 to 2022. At the same time, Canada (+62.5%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +62.5% from 2012-2022. Canada (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -1.8% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest rare gases supplier in Northern America, comprising 93% of total exports. The second position in the ranking was held by Canada ($X), with a 7.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States was relatively modest.

Export Prices by Country

The export price in Northern America stood at $X per cubic meter in 2022, surging by 2.1% against the previous year. In general, the export price, however, continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 when the export price increased by 15% against the previous year. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per cubic meter), while the United States amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.1%).

Rare Gases Imports

Imports in Northern America

In 2022, approx. X cubic meters of rare gases (excluding argon) were imported in Northern America; surging by 8.1% on the year before. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, rare gases imports surged to $X in 2022. Overall, imports recorded a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 98%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of rare gases imports in 2022 were the United States (X cubic meters) and Canada (X cubic meters), together finishing at 100% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United States (with a CAGR of +26.3%).

In value terms, the United States ($X) constitutes the largest market for imported rare gases (excluding argon) in Northern America, comprising 82% of total imports. The second position in the ranking was held by Canada ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +17.4%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per cubic meter, surging by 17% against the previous year. In general, the import price saw a slight expansion. The pace of growth was the most pronounced in 2014 when the import price increased by 73% against the previous year. The level of import peaked at $X per cubic meter in 2015; however, from 2016 to 2022, import prices stood at a somewhat 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 the United States ($X per cubic meter), while Canada amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-2.5%).

Source: IndexBox Platform

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