Vietnam: Rare Gases Market 2024

Rare Gases Exports

Exports from Vietnam

In 2022, the amount of rare gases (excluding argon) exported from Vietnam fell remarkably to X cubic meters, waning by -38.6% against 2021 figures. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 325%. Over the period under review, the exports reached the maximum at X cubic meters in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, rare gases exports reached $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 306% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X cubic meters) was the main destination for rare gases exports from Vietnam, accounting for a 44% share of total exports. Moreover, rare gases exports to Austria exceeded the volume sent to the second major destination, Singapore (X cubic meters), tenfold. China (X cubic meters) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-26.1% per year) and China (0.0% per year).

In value terms, Austria ($X) emerged as the key foreign market for rare gases (excluding argon) exports from Vietnam, comprising 48% of total exports. The second position in the ranking was taken by China ($X), with a 2% share of total exports. It was followed by Singapore, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Singapore (-28.2% per year).

Export Prices by Country

The average rare gases export price stood at $X per cubic meter in 2022, growing by 80% against the previous year. In general, the export price showed a remarkable increase. 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 Austria ($X per cubic meter), while the average price for exports to Lao People's Democratic Republic ($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 Japan (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Rare Gases Imports

Imports into Vietnam

After two years of decline, supplies from abroad of rare gases (excluding argon) increased by 10% to X cubic meters in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 42% against the previous year. As a result, imports attained the peak of X cubic meters. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, rare gases imports contracted modestly to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +2.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 49% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Qatar (X cubic meters), Singapore (X cubic meters) and Malaysia (X cubic meters) were the main suppliers of rare gases imports to Vietnam, with a combined 76% share of total imports. The United States, Germany, South Korea, China and Japan lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +39.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rare gases suppliers to Vietnam were Qatar ($X), Singapore ($X) and Malaysia ($X), with a combined 74% share of total imports. These countries were followed by the United States, Germany, South Korea, China and Japan, which together accounted for a further 22%.

South Korea, with a CAGR of +47.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average rare gases import price stood at $X per cubic meter in 2022, with a decrease of -11.5% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rare gases import price increased by +39.5% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 27%. As a result, import price attained the peak level of $X per cubic meter, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for China ($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 (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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