Thailand: Rare Gases Market 2024

Rare Gases Market Size in Thailand

The Thai rare gases market rose significantly to $X in 2022, growing by 9.1% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 -5.6% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Rare Gases Production in Thailand

In value terms, rare gases production fell to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -19.6% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 51% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Rare Gases Exports

Exports from Thailand

In 2022, after two years of growth, there was significant decline in shipments abroad of rare gases (excluding argon), when their volume decreased by -54.6% to X cubic meters. Over the period under review, exports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2013 when exports increased by 225% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, rare gases exports surged to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 529%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Lao People's Democratic Republic (X cubic meters), Singapore (X cubic meters) and Japan (X cubic meters) were the main destinations of rare gases exports from Thailand, together comprising 86% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +106.6%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for rare gases (excluding argon) exports from Thailand, comprising 48% of total exports. The second position in the ranking was held by Vietnam ($X), with a 20% share of total exports. It was followed by Malaysia, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +200.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+78.8% per year) and Malaysia (+54.9% per year).

Export Prices by Country

The average rare gases export price stood at $X per cubic meter in 2022, rising by 282% against the previous year. Over the period under review, the export price showed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while the average price for exports to Lao People's Democratic Republic ($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 Taiwan (Chinese) (+58.5%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into Thailand

In 2022, the amount of rare gases (excluding argon) imported into Thailand skyrocketed to X cubic meters, increasing by 141% against 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports skyrocketed to $X in 2022. In general, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore (X cubic meters), Qatar (X cubic meters) and China (X cubic meters) were the main suppliers of rare gases imports to Thailand, with a combined 97% share of total imports. These countries were followed by Indonesia and the United States, which together accounted for a further 2.1%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +48.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) constituted the largest supplier of rare gases (excluding argon) to Thailand, comprising 56% of total imports. The second position in the ranking was taken by Singapore ($X), with a 26% share of total imports. It was followed by China, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Qatar amounted to +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+5.4% per year) and China (+36.6% per year).

Import Prices by Country

In 2022, the average rare gases import price amounted to $X per cubic meter, with a decrease of -42.2% against the previous year. In general, the import price showed a mild descent. The most prominent rate of growth was recorded in 2020 an increase of 57%. As a result, import price reached the peak level of $X per cubic meter. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Singapore ($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 United States (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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