MENA: Rare Gases Market 2024

Rare Gases Market Size in MENA

The MENA's rare gases market shrank slightly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Rare Gases Production in MENA

In value terms, rare gases production dropped to $X in 2022 estimated in export price. The total production indicated a slight 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Rare Gases Exports

Exports in MENA

In 2022, after two years of decline, there was significant growth in overseas shipments of rare gases (excluding argon), when their volume increased by X% to X cubic meters. In general, exports posted a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases exports surged to $X in 2022. Overall, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Algeria (X cubic meters) and the United Arab Emirates (X cubic meters) dominates exports structure, together committing X% of total exports. It was distantly followed by Turkey (X cubic meters), creating a X% share of total exports. Kuwait (X cubic meters) followed a long way behind the leaders.

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

In value terms, Algeria ($X) remains the largest rare gases supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

In Algeria, rare gases exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in MENA stood at $X per cubic meter in 2022, waning by X% against the previous year. Export price indicated noticeable 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, rare gases export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Algeria ($X per cubic meter), while Kuwait ($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 mixed trends in the export price figures.

Rare Gases Imports

Imports in MENA

In 2022, overseas purchases of rare gases (excluding argon) were finally on the rise to reach X cubic meters after two years of decline. In general, imports enjoyed strong growth. As a result, imports attained 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 saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X cubic meters) represented the main importer of rare gases (excluding argon), mixing up X% of total imports. Oman (X cubic meters) ranks second in terms of the total imports with a X% share, followed by Kuwait (X%), Israel (X%) and Saudi Arabia (X%). Turkey (X cubic meters) and Iran (X cubic meters) took a minor share of total imports.

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%), Iran (X%), Israel (X%), Kuwait (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Kuwait (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey, Israel and Saudi Arabia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rare gases importing markets in MENA were the United Arab Emirates ($X), Israel ($X) and Turkey ($X), together comprising X% of total imports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 MENA stood at $X per cubic meter in 2022, shrinking by X% against the previous year. Overall, the import price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2021 to 2022, the import prices failed to regain momentum.

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 Israel ($X per cubic meter), while Oman ($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

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