South-Eastern Asia: Rare Gases Market 2024

Rare Gases Market Size in South-Eastern Asia

The Southeast Asian rare gases market surged to $X in 2022, picking up by 68% against the previous year. Overall, consumption, however, recorded a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Rare Gases Production in South-Eastern Asia

In value terms, rare gases production skyrocketed to $X in 2022 estimated in export price. In general, production enjoyed a buoyant expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Rare Gases Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of rare gases (excluding argon) increased by 51% to X cubic meters, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 61%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, rare gases exports skyrocketed to $X in 2022. Overall, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore prevails in exports structure, resulting at X cubic meters, which was approx. 89% of total exports in 2022. It was distantly followed by Malaysia (X cubic meters), creating a 5.9% share of total exports. The following exporters - Thailand (X cubic meters) and Indonesia (X cubic meters) - together made up 5.3% of total exports.

From 2012 to 2022, average annual rates of growth with regard to rare gases exports from Singapore stood at +14.3%. At the same time, Malaysia (+35.1%) and Indonesia (+5.6%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +35.1% from 2012-2022. By contrast, Thailand (-1.5%) illustrated a downward trend over the same period. Singapore (+8.7 p.p.) and Malaysia (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -1.7% and -10.6% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest rare gases supplier in South-Eastern Asia, comprising 93% of total exports. The second position in the ranking was held by Malaysia ($X), with a 4.6% share of total exports. It was followed by Thailand, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +18.0%. In the other countries, the average annual rates were as follows: Malaysia (+36.9% per year) and Thailand (+30.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per cubic meter in 2022, growing by 6.4% against the previous year. In general, the export price posted notable growth. The growth pace was the most rapid in 2019 an increase of 41% against the previous year. Over the period under review, the export prices reached the maximum at $X per cubic meter in 2020; however, from 2021 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 Singapore ($X per cubic meter), while Indonesia ($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 Thailand (+32.6%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in South-Eastern Asia

After three years of growth, overseas purchases of rare gases (excluding argon) decreased by -11.9% to X cubic meters in 2022. Overall, imports, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 59% against the previous year. Over the period under review, imports reached the peak figure at X cubic meters in 2021, and then contracted in the following year.

In value terms, rare gases imports surged to $X in 2022. Over the period under review, imports, however, saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X cubic meters) and Singapore (X cubic meters) dominates imports structure, together generating 78% of total imports. Thailand (X cubic meters) ranks next in terms of the total imports with a 9.5% share, followed by the Philippines (6.8%). Malaysia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +10.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported rare gases (excluding argon) in South-Eastern Asia, comprising 76% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 7.6% share of total imports. It was followed by Malaysia, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled +22.5%. In the other countries, the average annual rates were as follows: the Philippines (+27.3% per year) and Malaysia (+11.2% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per cubic meter, rising by 105% against the previous year. Over the period under review, the import price saw a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per cubic meter), while Indonesia ($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 Philippines (+29.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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