Sweden: Rare Gases Market 2024

Rare Gases Market Size in Sweden

In 2022, after four years of growth, there was significant decline in the Swedish rare gases market, when its value decreased by -15.8% to $X. Over the period under review, consumption, however, enjoyed resilient growth. Rare gases consumption peaked at $X in 2021, and then shrank sharply in the following year.

Rare Gases Production in Sweden

In value terms, rare gases production expanded significantly to $X in 2022 estimated in export price. Overall, production showed a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 108% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports from Sweden

In 2022, overseas shipments of rare gases (excluding argon) were finally on the rise to reach X cubic meters after three years of decline. In general, exports, however, saw a pronounced curtailment. The growth pace was the most rapid in 2015 when exports increased by 53% against the previous year. The exports peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, rare gases exports fell to $X in 2022. Over the period under review, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -39.9% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 65% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X cubic meters) was the main destination for rare gases exports from Sweden, accounting for a 76% share of total exports. Moreover, rare gases exports to Denmark exceeded the volume sent to the second major destination, Norway (X cubic meters), sevenfold. Latvia (X cubic meters) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Denmark amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+2.4% per year) and Latvia (+9.1% per year).

In value terms, Norway ($X) remains the key foreign market for rare gases (excluding argon) exports from Sweden, comprising 58% of total exports. The second position in the ranking was taken by Denmark ($X), with a 27% share of total exports. It was followed by Finland, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-3.8% per year) and Finland (+9.1% per year).

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, with a decrease of -30.9% against the previous year. Overall, the export price, however, showed a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of 69%. As a result, the export price attained the peak level of $X per cubic meter. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per cubic meter), while the average price for exports to Denmark ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into Sweden

In 2022, approx. X cubic meters of rare gases (excluding argon) were imported into Sweden; declining by -7% on 2021 figures. Over the period under review, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 99.9%. Over the period under review, imports attained the maximum at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, rare gases imports shrank to $X in 2022. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 68% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Denmark (X cubic meters) constituted the largest rare gases supplier to Sweden, with a 69% share of total imports. Moreover, rare gases imports from Denmark exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), fourfold. The third position in this ranking was held by France (X cubic meters), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark totaled +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.9% per year) and France (+17.3% per year).

In value terms, the largest rare gases suppliers to Sweden were Germany ($X), Denmark ($X) and France ($X), together accounting for 91% of total imports. The Netherlands, Italy and China lagged somewhat behind, together accounting for a further 6%.

In terms of the main suppliers, Italy, with a CAGR of +28.5%, recorded 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, falling by -8.5% against the previous year. Over the period under review, the import price continues to indicate a mild slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by 35%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for Denmark ($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 Germany (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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