Asia: Argon Market 2024

Argon Market Size in Asia

The Asian argon market shrank to $X in 2022, falling by X% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Argon Production in Asia

In value terms, argon production reduced to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Argon Exports

Exports in Asia

In 2022, exports of argon in Asia was estimated at X cubic meters, surging by X% compared with the previous year. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, argon exports totaled $X in 2022. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, China (X cubic meters), distantly followed by Malaysia (X cubic meters), Kuwait (X cubic meters), Singapore (X cubic meters), Vietnam (X cubic meters) and Saudi Arabia (X cubic meters) were the largest exporters of argon, together mixing up X% of total exports. The following exporters - the United Arab Emirates (X cubic meters), Kazakhstan (X cubic meters), South Korea (X cubic meters), India (X cubic meters) and Turkey (X cubic meters) - together made up X% of total exports.

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

In value terms, China ($X), Kuwait ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Kuwait, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per cubic meter in 2022, surging by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while Kazakhstan ($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 Kuwait (X%), while the other leaders experienced more modest paces of growth.

Argon Imports

Imports in Asia

In 2022, approx. X cubic meters of argon were imported in Asia; reducing by X% against the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of import peaked at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, argon imports reached $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Indonesia (X cubic meters), distantly followed by Thailand (X cubic meters), the United Arab Emirates (X cubic meters), Taiwan (Chinese) (X cubic meters), Singapore (X cubic meters) and Turkey (X cubic meters) represented the largest importers of argon, together constituting X% of total imports. Bangladesh (X cubic meters), Cambodia (X cubic meters), Vietnam (X cubic meters), the Philippines (X cubic meters) and Israel (X cubic meters) followed a long way behind the leaders.

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

In value terms, Indonesia ($X), Thailand ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Singapore, Taiwan (Chinese), Turkey, Bangladesh, the Philippines, Cambodia, Vietnam and Israel lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Cambodia, with a CAGR of X%, saw the highest growth rate of 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

The import price in Asia stood at $X per cubic meter in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per cubic meter), while the United Arab Emirates ($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 Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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