SADC: Argon Market 2024

Argon Market Size in SADC

The SADC argon market reached $X in 2022, leveling off at the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.9% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Argon Production in SADC

In value terms, argon production expanded to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 28% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Argon Exports

Exports in SADC

In 2022, approx. X cubic meters of argon were exported in SADC; stabilizing at 2021. Overall, exports, however, showed a pronounced contraction. The growth pace was the most rapid in 2021 when exports increased by 37%. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, argon exports surged to $X in 2022. In general, exports, however, continue to indicate a perceptible setback. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa prevails in exports structure, accounting for X cubic meters, which was approx. 97% of total exports in 2022. Mauritius (X cubic meters) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to argon exports from South Africa stood at -3.6%. Mauritius (-3.2%) illustrated a downward trend over the same period. South Africa (+7.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest argon supplier in SADC, comprising 90% of total exports. The second position in the ranking was taken by Mauritius ($X), with an 8.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa amounted to -2.5%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per cubic meter, growing by 17% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per cubic meter in 2013; however, from 2014 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 Mauritius ($X per cubic meter), while South Africa stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+16.2%).

Argon Imports

Imports in SADC

In 2022, imports of argon in SADC contracted significantly to X cubic meters, falling by -27.1% compared with the previous year. In general, imports, however, enjoyed a tangible expansion. The pace of growth was the most pronounced in 2021 when imports increased by 89% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, argon imports shrank to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 60%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Angola was the largest importing country with an import of around X cubic meters, which finished at 40% of total imports. Democratic Republic of the Congo (X cubic meters) ranks second in terms of the total imports with a 19% share, followed by Tanzania (7.3%), Namibia (6.7%), Zambia (5.4%), Mauritius (5.1%) and Mozambique (5%).

Imports into Angola increased at an average annual rate of +5.8% from 2012 to 2022. At the same time, Mozambique (+31.0%), Tanzania (+9.2%), Namibia (+4.9%) and Mauritius (+2.5%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of +31.0% from 2012-2022. By contrast, Democratic Republic of the Congo (-2.3%) and Zambia (-5.2%) illustrated a downward trend over the same period. While the share of Angola (+12 p.p.), Mozambique (+4.6 p.p.), Tanzania (+3.5 p.p.) and Namibia (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Zambia (-6 p.p.) and Democratic Republic of the Congo (-10.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Angola ($X) constitutes the largest market for imported argon in SADC, comprising 35% of total imports. The second position in the ranking was taken by Democratic Republic of the Congo ($X), with a 17% share of total imports. It was followed by Tanzania, with a 13% share.

In Angola, argon imports plunged by an average annual rate of -4.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Democratic Republic of the Congo (-4.8% per year) and Tanzania (+16.1% per year).

Import Prices by Country

The import price in SADC stood at $X per cubic meter in 2022, with an increase of 23% against the previous year. In general, the import price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the import price increased by 23% against the previous year. Over the period under review, import prices attained the maximum at $X per cubic meter in 2012; however, from 2013 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 Tanzania ($X per cubic meter), while Namibia ($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 Mauritius (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform