Turkey: Argon Market 2024

Argon Market Size in Turkey

The Turkish argon market declined to $X in 2022, with a decrease of -10.7% against the previous year. Over the period under review, consumption, however, enjoyed a significant expansion. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Argon Production in Turkey

In value terms, argon production shrank sharply to $X in 2022 estimated in export price. Overall, production, however, posted a significant increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 118%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Argon Exports

Exports from Turkey

Argon exports from Turkey skyrocketed to X cubic meters in 2022, jumping by 111% compared with the previous year. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 113% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, argon exports soared to $X in 2022. In general, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Albania (X cubic meters), Greece (X cubic meters) and Bulgaria (X cubic meters) were the main destinations of argon exports from Turkey, with a combined 74% share 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 Bulgaria (with a CAGR of +585.9%), while the other leaders experienced more modest paces of growth.

In value terms, Albania ($X), Greece ($X) and Italy ($X) constituted the largest markets for argon exported from Turkey worldwide, with a combined 75% share of total exports. Bulgaria, North Macedonia, Turkmenistan, Georgia, Lebanon, Iraq and Iran lagged somewhat behind, together comprising a further 19%.

Bulgaria, with a CAGR of +953.0%, recorded 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 more modest paces of growth.

Export Prices by Country

The average argon export price stood at $X per cubic meter in 2022, surging by 89% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export 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 suppliers, the country with the highest price was Italy ($X per cubic meter), while the average price for exports to Iraq ($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 Bulgaria (+53.5%), while the prices for the other major destinations experienced more modest paces of growth.

Argon Imports

Imports into Turkey

In 2022, overseas purchases of argon increased by 136% to X cubic meters, rising for the third year in a row after three years of decline. In general, imports enjoyed a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 265% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, argon imports skyrocketed to $X in 2022. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Iran (X cubic meters) constituted the largest supplier of argon to Turkey, accounting for a 48% share of total imports. Moreover, argon imports from Iran exceeded the figures recorded by the second-largest supplier, Romania (X cubic meters), threefold. The third position in this ranking was taken by Ukraine (X cubic meters), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran stood at +158.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+0.2% per year) and Ukraine (+27.3% per year).

In value terms, Iran ($X) constituted the largest supplier of argon to Turkey, comprising 49% of total imports. The second position in the ranking was taken by Romania ($X), with an 11% share of total imports. It was followed by Moldova, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from Iran amounted to +225.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+8.0% per year) and Moldova (0.0% per year).

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, with an increase of 89% against the previous year. Over the period under review, the import price saw a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per cubic meter), while the price for the Netherlands ($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 Saudi Arabia (+59.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :