Middle East: Rare Gases Market 2024

Rare Gases Market Size in the Middle East

The Middle Eastern rare gases market reduced slightly to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Rare Gases Production in the Middle East

In value terms, rare gases production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Rare Gases Exports

Exports in the Middle East

In 2022, overseas shipments of rare gases (excluding argon) were 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 posted 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 soared to $X in 2022. In general, exports recorded a resilient increase. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X cubic meters, which finished at X% of total exports. Turkey (X cubic meters) took the second position in the ranking, distantly followed by Kuwait (X cubic meters). All these countries together held near X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.), Kuwait (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, rare gases exports expanded 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 Kuwait (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per cubic meter in 2022, with a decrease of X% against the previous year. In general, the export price showed a noticeable setback. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2017 to 2022, the export prices remained at a 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 the United Arab Emirates ($X per cubic meter), while Kuwait ($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 the Middle East

In 2022, overseas purchases of rare gases (excluding argon) increased by X% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rare gases imports skyrocketed to $X in 2022. Overall, imports recorded a buoyant expansion. 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 main importer of rare gases (excluding argon) in the Middle East, with the volume of imports resulting at X cubic meters, which was approx. X% of total imports in 2022. Oman (X cubic meters) held the second position in the ranking, followed by Kuwait (X cubic meters), Israel (X cubic meters) and Saudi Arabia (X cubic meters). All these countries together held near X% share of total imports. 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. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Oman increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rare gases importing markets in the Middle East were the United Arab Emirates ($X), Israel ($X) and Turkey ($X), with a combined X% share of total imports.

In terms of the main importing countries, the United Arab Emirates, 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

In 2022, the import price in the Middle East amounted to $X per cubic meter, dropping by X% against the previous year. In general, the import price, however, recorded a strong increase. The growth pace was the most rapid in 2020 when the import price increased by 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 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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