U.S.: Argon Market 2024

Argon Market Size in the U.S.

The U.S. argon market fell to $X in 2022, which is down by X% against the previous year. Over the period under review, the total consumption indicated pronounced 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 2020 indices. Argon consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Argon Production in the U.S.

In value terms, argon production contracted to $X in 2022. Overall, the total production indicated a modest expansion 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 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.

Argon Exports

Exports from the U.S.

In 2022, after two years of growth, there was significant decline in shipments abroad of argon, when their volume decreased by X% to X cubic meters. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at X cubic meters in 2021, and then shrank in the following year.

In value terms, argon exports totaled $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X cubic meters) was the main destination for argon exports from the United States, with a X% share of total exports. Moreover, argon exports to Mexico exceeded the volume sent to the second major destination, the Netherlands (X cubic meters), threefold. Canada (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Canada (X% per year).

In value terms, Mexico ($X) remains the key foreign market for argon exports from the United States, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Qatar (X% per year).

Export Prices by Country

The average argon export price stood at $X per cubic meter in 2022, picking up by X% against the previous year. Overall, the export price, however, saw a mild slump. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price attained the peak level of $X per cubic meter. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per cubic meter), while the average price for exports to the Netherlands ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Argon Imports

Imports into the U.S.

In 2022, approx. X cubic meters of argon were imported into the United States; dropping by X% on 2021. In general, total imports indicated temperate growth 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. Based on 2022 figures, imports decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, argon imports contracted to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Canada (X cubic meters) constituted the largest supplier of argon to the United States, with a X% share of total imports. Moreover, argon imports from Canada exceeded the figures recorded by the second-largest supplier, Hungary (X cubic meters), tenfold.

From 2012 to 2022, the average annual growth rate of volume from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Austria (X% per year).

In value terms, Canada ($X) constituted the largest supplier of argon to the United States, comprising X% of total imports. The second position in the ranking was held by Hungary ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Austria (X% per year).

Import Prices by Country

The average argon import price stood at $X per cubic meter in 2022, with a decrease of X% against the previous year. Over the period under review, the import price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per cubic meter), while the price for Hungary ($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 Austria (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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