United Kingdom: Rare Gases Market 2024

Rare Gases Market Size in the UK

The UK rare gases market expanded significantly to $X in 2022, growing by 12% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +32.5% against 2019 indices. Rare gases consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Rare Gases Production in the UK

In value terms, rare gases production expanded rapidly to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2020 with an increase of 41%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Rare Gases Exports

Exports from the UK

In 2022, after two years of decline, there was significant growth in shipments abroad of rare gases (excluding argon), when their volume increased by 133% to X cubic meters. In general, exports showed a measured expansion. The exports peaked at X cubic meters in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, rare gases exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt downturn. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X cubic meters), Belgium (X cubic meters) and Ireland (X cubic meters) were the main destinations of rare gases exports from the UK, with a combined 72% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +40.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Ireland ($X) and the United States ($X) appeared to be the largest markets for rare gases exported from the UK worldwide, together accounting for 64% of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +39.3%, 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, with an increase of 10% against the previous year. Overall, the export price, however, recorded a deep setback. The growth pace was the most rapid in 2018 when the average export price increased by 58%. Over the period under review, the average export prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per cubic meter), while the average price for exports to the United States ($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 France (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Gases Imports

Imports into the UK

Rare gases imports into the UK soared to X cubic meters in 2022, picking up by 47% on the year before. In general, imports, however, recorded a slight decrease. Over the period under review, imports reached the peak figure at X cubic meters in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, rare gases imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period 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.

Imports by Country

The United States (X cubic meters), Germany (X cubic meters) and Qatar (X cubic meters) were the main suppliers of rare gases imports to the UK, with a combined 82% share of total imports. These countries were followed by Portugal, Algeria, Canada, Poland and France, which together accounted for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +48.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of rare gases (excluding argon) to the UK, comprising 50% of total imports. The second position in the ranking was taken by the United States ($X), with a 25% share of total imports. It was followed by Qatar, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.6% per year) and Qatar (+12.8% per year).

Import Prices by Country

In 2022, the average rare gases import price amounted to $X per cubic meter, which is down by -10.4% against the previous year. In general, the import price, however, posted a moderate increase. The pace of growth appeared the most rapid in 2016 when the average import price increased by 89% against the previous year. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per cubic meter), while the price for Portugal ($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 Qatar (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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