U.S.: Rare Gases Market 2024

Rare Gases Market Size in the U.S.

For the third consecutive year, the U.S. rare gases market recorded decline in sales value, which decreased by -28.3% to $X in 2022. Over the period under review, consumption continues to indicate a pronounced curtailment. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Rare Gases Production in the U.S.

In value terms, rare gases production dropped to $X in 2022. Over the period under review, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +16.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 33%. Rare gases production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Rare Gases Exports

Exports from the U.S.

In 2022, shipments abroad of rare gases (excluding argon) increased by 24% to X cubic meters, rising for the fourth consecutive year after three years of decline. In general, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 81%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, rare gases exports surged to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X cubic meters), Japan (X cubic meters) and Belgium (X cubic meters) were the main destinations of rare gases exports from the United States, together comprising 62% of total exports. Taiwan (Chinese), China, Canada, Germany, Brazil, Singapore, Mexico, the Netherlands and the UK lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +57.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rare gases exported from the United States were South Korea ($X), Belgium ($X) and Japan ($X), with a combined 49% share of total exports. These countries were followed by Taiwan (Chinese), China, Canada, Mexico, Germany, Brazil, Singapore, the Netherlands and the UK, which together accounted for a further 38%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +35.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average rare gases export price amounted to $X per cubic meter, remaining constant against the previous year. In general, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.0%), while the prices for the other major destinations experienced a decline.

Rare Gases Imports

Imports into the U.S.

In 2022, supplies from abroad of rare gases (excluding argon) increased by 44% to X cubic meters, rising for the third year in a row after four years of decline. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 112%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, rare gases imports surged to $X in 2022. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2015 when imports increased by 133% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Canada (X cubic meters), China (X cubic meters) and Qatar (X cubic meters) were the main suppliers of rare gases imports to the United States, together comprising 61% of total imports. These countries were followed by Germany, Ukraine, Hong Kong SAR, Switzerland and Russia, which together accounted for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +227.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), China ($X) and Qatar ($X) appeared to be the largest rare gases suppliers to the United States, with a combined 61% share of total imports. These countries were followed by Germany, Ukraine, Hong Kong SAR, Switzerland and Russia, which together accounted for a further 31%.

Among the main suppliers, Switzerland, with a CAGR of +153.4%, 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

In 2022, the average rare gases import price amounted to $X per cubic meter, waning by -4% against the previous year. In general, the import price showed a deep slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 17%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ukraine ($X per cubic meter), while the price for Switzerland ($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 Ukraine (-5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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