Scandinavia: Argon Market 2024

Argon Market Size in Scandinavia

The Scandinavia argon market shrank rapidly to $X in 2022, which is down by -19.2% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 -29.6% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Argon Production in Scandinavia

In value terms, argon production reduced slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 52% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Argon Exports

Exports in Scandinavia

Argon exports surged to X cubic meters in 2022, with an increase of 71% against 2021 figures. Overall, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 103%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, argon exports soared to $X in 2022. Over the period under review, exports enjoyed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland (X cubic meters) and Sweden (X cubic meters) prevails in exports structure, together comprising 90% of total exports. It was distantly followed by Norway (X cubic meters), committing a 9.8% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Finland (with a CAGR of +19.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest argon supplying countries in Scandinavia were Finland ($X), Sweden ($X) and Norway ($X).

In terms of the main exporting countries, Sweden, with a CAGR of +17.3%, recorded the highest growth rate of 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 Scandinavia stood at $X per cubic meter in 2022, approximately reflecting the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2017 when the export price increased by 31% against the previous year. The level of export peaked at $X per cubic meter in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per cubic meter), while Finland ($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 Norway (-0.7%), while the other leaders experienced a decline in the export price figures.

Argon Imports

Imports in Scandinavia

In 2022, approx. X cubic meters of argon were imported in Scandinavia; reducing by -7.2% on 2021 figures. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 86% against the previous year. The volume of import peaked at X cubic meters in 2021, and then shrank in the following year.

In value terms, argon imports contracted to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.4% against 2014 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 64% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Sweden (X cubic meters) and Finland (X cubic meters) represented the key importers of argon in 2022, finishing at approx. 36% and 33% of total imports, respectively. It was followed by Norway (X cubic meters), constituting a 31% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +7.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest argon importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

In terms of the main importing countries, Sweden, with a CAGR of +5.7%, saw 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 Scandinavia amounted to $X per cubic meter, which is down by -5.6% against the previous year. Over the period under review, the import price continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2013 an increase of 19%. As a result, import price attained the peak level of $X per cubic meter. From 2014 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per cubic meter), while Finland ($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 Finland (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform