GCC: Rare Gases Market 2024

Rare Gases Market Size in GCC

The GCC rare gases market reached $X in 2022, growing by X% against the previous year. The total consumption indicated noticeable growth 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, consumption increased by X% against 2019 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Rare Gases Production in GCC

In value terms, rare gases production amounted to $X in 2022 estimated in export price. Overall, production recorded a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Rare Gases Exports

Exports in GCC

In 2022, shipments abroad of rare gases (excluding argon) was finally on the rise to reach X cubic meters for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases exports skyrocketed to $X in 2022. Overall, exports enjoyed a prominent expansion. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X cubic meters, which was near X% of total exports in 2022. It was distantly followed by Kuwait (X cubic meters), achieving a X% share of total exports. Saudi Arabia (X cubic meters) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the rare gases (excluding argon) exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest rare gases supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per cubic meter in 2022, which is down by X% against the previous year. Overall, the export price recorded a perceptible slump. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per cubic meter. From 2017 to 2022, the export prices remained at a somewhat 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 Saudi Arabia ($X per cubic meter), while Kuwait ($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 a decline in the export price figures.

Rare Gases Imports

Imports in GCC

After two years of decline, overseas purchases of rare gases (excluding argon) increased by X% to X cubic meters in 2022. Overall, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports skyrocketed to $X in 2022. In general, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the major importer of rare gases (excluding argon) in GCC, with the volume of imports accounting for X cubic meters, which was near X% of total imports in 2022. Oman (X cubic meters) took the second position in the ranking, distantly followed by Kuwait (X cubic meters) and Saudi Arabia (X cubic meters). All these countries together held approx. X% share of total imports. Bahrain (X cubic meters) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the rare gases (excluding argon) imports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. Bahrain experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Oman increased by X, X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rare gases (excluding argon) in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per cubic meter, with a decrease of X% against the previous year. Over the period under review, the import price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, import price reached the peak level of $X per cubic meter. From 2021 to 2022, the import prices remained at a somewhat 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 Kuwait ($X per cubic meter), while Oman ($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.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :