South Africa: Rare Gases Market 2024

Rare Gases Market Size in South Africa

The South African rare gases market was estimated at $X in 2022, with an increase of 14% against the previous year. Over the period under review, consumption enjoyed buoyant growth. Rare gases consumption peaked in 2022 and is likely to continue growth in the immediate term.

Rare Gases Production in South Africa

In value terms, rare gases production expanded rapidly to $X in 2022 estimated in export price. Overall, production posted a prominent expansion. The growth pace was the most rapid in 2020 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Rare Gases Exports

Exports from South Africa

In 2022, shipments abroad of rare gases (excluding argon) decreased by -86.1% to X cubic meters, falling for the second year in a row after four years of growth. Overall, exports saw a precipitous curtailment. The growth pace was the most rapid in 2020 with an increase of 30%. The exports peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, rare gases exports dropped notably to $X in 2022. Over the period under review, exports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2020 with an increase of 73%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Namibia (X cubic meters), Botswana (X cubic meters) and Mozambique (X cubic meters) were the main destinations of rare gases exports from South Africa, together comprising 72% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of -2.9%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for rare gases exported from South Africa were Namibia ($X), Botswana ($X) and Mozambique ($X), with a combined 72% share of total exports.

Mozambique, with a CAGR of +4.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, shrinking by -3.5% against the previous year. In general, the export price, however, saw a resilient increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 33%. The export price peaked at $X per cubic meter in 2021, and then fell in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Namibia ($X per cubic meter) and Botswana ($X per cubic meter), while the average price for exports to Zambia ($X per cubic meter) and Mozambique ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into South Africa

In 2022, supplies from abroad of rare gases (excluding argon) was finally on the rise to reach X cubic meters after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at X cubic meters in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, rare gases imports expanded significantly to $X in 2022. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.0% against 2020 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 54% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X cubic meters) constituted the largest rare gases supplier to South Africa, accounting for a 58% share of total imports. Moreover, rare gases imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Qatar (X cubic meters), threefold. The third position in this ranking was taken by the United States (X cubic meters), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+3.3% per year) and the United States (-13.1% per year).

In value terms, the largest rare gases suppliers to South Africa were Qatar ($X), the United States ($X) and the United Arab Emirates ($X), together accounting for 79% of total imports. Algeria and Germany lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Algeria, with a CAGR of +37.8%, saw the highest rates of growth with regard to 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

The average rare gases import price stood at $X per cubic meter in 2022, waning by -36.6% against the previous year. In general, the import price, however, saw a moderate expansion. The growth pace was the most rapid in 2020 an increase of 26%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2021, and then fell dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per cubic meter), while the price for the United Arab Emirates ($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 Qatar (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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