Uzbekistan: Argon Market 2024

Argon Market Size in Uzbekistan

In 2022, the Uzbek argon market increased by 21% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Argon Production in Uzbekistan

In value terms, argon production contracted modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 14%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Argon Exports

Exports from Uzbekistan

In 2022, overseas shipments of argon increased by 43% to X cubic meters, rising for the third year in a row after two years of decline. Over the period under review, exports, however, faced a significant decline. The growth pace was the most rapid in 2021 when exports increased by 92%. Over the period under review, the exports reached the peak figure at X cubic meters in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, argon exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a precipitous decrease. The growth pace was the most rapid in 2021 with an increase of 115%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Tajikistan (X cubic meters) was the main destination for argon exports from Uzbekistan, with a 79% share of total exports. Moreover, argon exports to Tajikistan exceeded the volume sent to the second major destination, Turkmenistan (X cubic meters), fivefold.

From 2017 to 2022, the average annual rate of growth in terms of volume to Tajikistan totaled +93.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+131.5% per year) and Kyrgyzstan (+28.2% per year).

In value terms, Tajikistan ($X) remains the key foreign market for argon exports from Uzbekistan, comprising 79% of total exports. The second position in the ranking was taken by Turkmenistan ($X), with a 15% share of total exports.

From 2017 to 2022, the average annual growth rate of value to Tajikistan totaled +93.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+142.0% per year) and Kyrgyzstan (+46.9% per year).

Export Prices by Country

In 2022, the average argon export price amounted to $X per cubic meter, picking up by 17% against the previous year. Over the last five-year period, it increased at an average annual rate of +3.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per cubic meter), while the average price for exports to Turkmenistan ($X per cubic meter) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+14.6%), while the prices for the other major destinations experienced mixed trend patterns.

Argon Imports

Imports into Uzbekistan

Argon imports into Uzbekistan declined sharply to X cubic meters in 2022, falling by -23.6% on the previous year. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 394% against the previous year. As a result, imports attained the peak of X cubic meters. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, argon imports reduced to $X in 2022. In general, imports, however, posted significant growth. The growth pace was the most rapid in 2019 with an increase of 384%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Kazakhstan (X cubic meters) was the main argon supplier to Uzbekistan, with a 96% share of total imports. Moreover, argon imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Russia (X cubic meters), more than tenfold.

From 2017 to 2022, the average annual rate of growth in terms of volume from Kazakhstan amounted to +21.4%.

In value terms, Kazakhstan ($X) constituted the largest supplier of argon to Uzbekistan, comprising 96% of total imports. The second position in the ranking was taken by Russia ($X), with a 3.8% share of total imports.

From 2017 to 2022, the average annual rate of growth in terms of value from Kazakhstan stood at +34.1%.

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, with an increase of 23% against the previous year. In general, import price indicated prominent growth from 2017 to 2022: its price increased at an average annual rate of +8.3% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, argon import price increased by +48.6% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per cubic meter), while the price for Kazakhstan totaled $X per cubic meter.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.5%).

Source: IndexBox Platform

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