Southern Asia: Rare Gases Market 2024

Rare Gases Market Size in Southern Asia

For the seventh year in a row, the South Asian rare gases market recorded growth in sales value, which increased by 1.2% to $X in 2022. 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 increased by +48.4% against 2014 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Rare Gases Production in Southern Asia

In value terms, rare gases production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 30%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports in Southern Asia

In 2022, shipments abroad of rare gases (excluding argon) was finally on the rise to reach X cubic meters after four years of decline. Over the period under review, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 843%. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, rare gases exports surged to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 201%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

India (X cubic meters) represented roughly 100% of total exports in 2022.

India was also the fastest-growing in terms of the rare gases (excluding argon) exports, with a CAGR of +17.8% from 2012 to 2022. India (+3.8 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, India ($X) also remains the largest rare gases supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +21.5%.

Export Prices by Country

The export price in Southern Asia stood at $X per cubic meter in 2022, shrinking by -28.2% against the previous year. In general, the export price, however, saw moderate growth. The pace of growth was the most pronounced in 2015 an increase of 221% against the previous year. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2021, and then declined dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +3.2% per year.

Rare Gases Imports

Imports in Southern Asia

In 2022, the amount of rare gases (excluding argon) imported in Southern Asia soared to X cubic meters, increasing by 26% against the year before. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports expanded markedly to $X in 2022. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 45%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

India represented the largest importing country with an import of about X cubic meters, which resulted at 79% of total imports. It was distantly followed by Afghanistan (X cubic meters) and Bangladesh (X cubic meters), together achieving an 18% share of total imports.

Imports into India increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, Afghanistan (+17.1%) and Bangladesh (+10.7%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +17.1% from 2012-2022. From 2012 to 2022, the share of Afghanistan and Bangladesh increased by +9.5 and +2.5 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported rare gases (excluding argon) in Southern Asia, comprising 92% of total imports. The second position in the ranking was taken by Afghanistan ($X), with a 2.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value in India amounted to +13.3%. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (+7.8% per year) and Bangladesh (+5.3% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per cubic meter, reducing by -11.7% against the previous year. In general, the import price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by 48%. Over the period under review, import prices hit record highs at $X per cubic meter in 2021, and then fell in the following year.

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 India ($X per cubic meter), while Afghanistan ($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 India (+11.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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