Eastern Asia: Argon Market 2024

Argon Market Size in Eastern Asia

The East Asian argon market fell to $X in 2022, declining by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Argon Production in Eastern Asia

In value terms, argon production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Argon Exports

Exports in Eastern Asia

In 2022, the amount of argon exported in Eastern Asia shrank remarkably to X cubic meters, declining by X% compared with 2021 figures. Overall, exports, however, continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, argon exports dropped markedly to $X in 2022. In general, exports, however, showed pronounced growth. The pace of growth was the most pronounced in 2017 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the largest exporter of argon in Eastern Asia, with the volume of exports resulting at X cubic meters, which was approx. X% of total exports in 2022. It was distantly followed by South Korea (X cubic meters), creating an X% share of total exports.

China was also the fastest-growing in terms of the argon exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. While the share of China (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest argon supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

In China, argon exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per cubic meter in 2022, dropping by X% against the previous year. Export price indicated mild growth from 2012 to 2022: its price 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, argon export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per cubic meter, and then shrank in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per cubic meter), while China stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Argon Imports

Imports in Eastern Asia

Argon imports contracted sharply to X cubic meters in 2022, with a decrease of X% compared with 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked at X cubic meters in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, argon imports shrank rapidly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) dominates imports structure, resulting at X cubic meters, which was near X% of total imports in 2022. It was distantly followed by Hong Kong SAR (X cubic meters), constituting a X% share of total imports. Macao SAR (X cubic meters) followed a long way behind the leaders.

Taiwan (Chinese) experienced a relatively flat trend pattern with regard to volume of imports of argon. At the same time, Macao SAR (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Hong Kong SAR and Macao SAR increased by X and X percentage points, respectively.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported argon in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an X% share of total imports.

In Taiwan (Chinese), argon imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and Macao SAR (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per cubic meter, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. 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 importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per cubic meter), while Taiwan (Chinese) ($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 Macao SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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