Middle East: Argon Market 2024

Argon Market Size in the Middle East

The Middle Eastern argon market declined to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then declined modestly in the following year.

Argon Production in the Middle East

In value terms, argon production reduced to $X in 2022 estimated in export price. The total production indicated a tangible 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 most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Argon Exports

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in shipments abroad of argon, which increased by X% to X cubic meters in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X cubic meters. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, argon exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Kuwait represented the key exporting country with an export of about X cubic meters, which recorded X% of total exports. Saudi Arabia (X cubic meters) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%) and Turkey (X%). Bahrain (X cubic meters) and Jordan (X cubic meters) took a little share of total exports.

Kuwait was also the fastest-growing in terms of the argon exports, with a CAGR of X% from 2012 to 2022. At the same time, Bahrain (X%), Jordan (X%), Saudi Arabia (X%), the United Arab Emirates (X%) and Turkey (X%) displayed positive paces of growth. From 2012 to 2022, the share of Kuwait, Saudi Arabia, Bahrain and Jordan increased by X, X, X and X percentage points, respectively.

In value terms, Kuwait ($X) remains the largest argon supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Kuwait, argon 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: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per cubic meter, rising by X% against the previous year. Overall, the export price, however, showed a pronounced decline. Over the period under review, the export prices hit record highs at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while Saudi Arabia ($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.

Argon Imports

Imports in the Middle East

In 2022, purchases abroad of argon was finally on the rise to reach X cubic meters after three years of decline. Total imports 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. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, argon imports soared to $X in 2022. Total imports indicated a strong 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 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the main importing country with an import of about X cubic meters, which amounted to X% of total imports. Turkey (X cubic meters) took the second position in the ranking, distantly followed by Israel (X cubic meters) and Oman (X cubic meters). All these countries together held near X% share of total imports. The following importers - Jordan (X cubic meters) and Iraq (X cubic meters) - each reached a X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the argon imports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%), Jordan (X%), Iraq (X%) and Israel (X%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. The United Arab Emirates (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to 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 the Middle East stood at $X per cubic meter in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

Frequently Asked Questions (FAQ) :