Global Rare Gases Market 2024

Rare Gases Market Size

The global rare gases market skyrocketed to $X in 2022, increasing by 16% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +117.2% against 2012 indices. Over the period under review, the global market attained the maximum level in 2022 and is expected to retain growth in years to come.

Rare Gases Production

In value terms, rare gases production totaled $X in 2022 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 20% against the previous year. Global production peaked at $X in 2020; afterwards, it flattened through to 2022.

Rare Gases Exports

Exports

For the fourth consecutive year, the global market recorded growth in overseas shipments of rare gases (excluding argon), which increased by 11% to X cubic meters in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.9% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 20%. The global exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, rare gases exports expanded to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.5% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 22%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, the United States (X cubic meters) was the largest exporter of rare gases (excluding argon), comprising 44% of total exports. It was distantly followed by Algeria (X cubic meters) and the Netherlands (X cubic meters), together mixing up a 13% share of total exports. The following exporters - Italy (X cubic meters), Germany (X cubic meters), Singapore (X cubic meters), France (X cubic meters), Belgium (X cubic meters), Spain (X cubic meters), Romania (X cubic meters), Turkey (X cubic meters), Portugal (X cubic meters) and Australia (X cubic meters) - together made up 25% of total exports.

Exports from the United States increased at an average annual rate of +10.2% from 2012 to 2022. At the same time, Turkey (+43.6%), Romania (+43.1%), the Netherlands (+23.2%), Italy (+15.0%), Singapore (+14.3%), Portugal (+10.8%), Spain (+6.9%), Germany (+4.5%), Australia (+3.9%), Algeria (+3.1%) and Belgium (+1.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +43.6% from 2012-2022. By contrast, France (-6.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, the Netherlands, Romania, Turkey and Italy increased by +10, +3.5, +2, +1.9 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest rare gases supplier worldwide, comprising 28% of global exports. The second position in the ranking was taken by Algeria ($X), with a 13% share of global exports. It was followed by France, with a 7.3% share.

In the United States, rare gases exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Algeria (+9.6% per year) and France (+4.9% per year).

Export Prices by Country

The average rare gases export price stood at $X per cubic meter in 2022, waning by -6.2% against the previous year. In general, the export price continues to indicate a mild decrease. The growth pace was the most rapid in 2018 when the average export price increased by 18%. The global export price peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per cubic meter), while Romania ($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 Australia (+23.2%), while the other global leaders experienced more modest paces of growth.

Rare Gases Imports

Imports

In 2022, global imports of rare gases (excluding argon) skyrocketed to X cubic meters, with an increase of 26% on the previous year's figure. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +71.3% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports surged to $X in 2022. Over the period under review, imports showed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X cubic meters), followed by Rwanda (X cubic meters), the United States (X cubic meters), Canada (X cubic meters) and the UK (X cubic meters) were the key importers of rare gases (excluding argon), together comprising 51% of total imports. The following importers - France (X cubic meters), Indonesia (X cubic meters), South Korea (X cubic meters), Germany (X cubic meters), Italy (X cubic meters), Japan (X cubic meters), Singapore (X cubic meters) and Belgium (X cubic meters) - together made up 25% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Rwanda (with a CAGR of +83.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest rare gases importing markets worldwide were China ($X), South Korea ($X) and Japan ($X), together comprising 40% of global imports. These countries were followed by Singapore, the United States, France, the UK, Germany, Italy, Belgium, Canada, Rwanda and Indonesia, which together accounted for a further 32%.

Among the main importing countries, Rwanda, with a CAGR of +80.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global 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, rising by 2.6% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 decreased by -10.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2021 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per cubic meter), while Rwanda ($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 Japan (+13.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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