Venezuela: Argon Market 2024

Argon Market Size in Venezuela

The Venezuelan argon market reached $X in 2022, approximately equating the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Argon Production in Venezuela

In value terms, argon production reached $X in 2022 estimated in export price. Overall, production, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Argon Exports

Exports from Venezuela

In 2022, after five years of decline, there was significant growth in shipments abroad of argon, when their volume increased by X% to X cubic meters. In general, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of X cubic meters. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, argon exports rose rapidly to $X in 2022. Overall, exports, however, faced a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X cubic meters) was the main destination for argon exports from Venezuela, accounting for a X% share of total exports. Moreover, argon exports to Colombia exceeded the volume sent to the second major destination, Brazil (X cubic meters), twofold.

From 2012 to 2022, the average annual growth rate of volume to Colombia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Aruba (X% per year).

In value terms, the largest markets for argon exported from Venezuela were Colombia ($X), Aruba ($X) and Brazil ($X).

Brazil, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average argon export price amounted to $X per cubic meter, standing approx. at the previous year. Over the period under review, the export price, however, saw a deep downturn. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per cubic meter in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Aruba ($X per cubic meter), while the average price for exports to Brazil ($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 Aruba (X%), while the prices for the other major destinations experienced a decline.

Argon Imports

Imports into Venezuela

In 2022, purchases abroad of argon decreased by X% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a mild increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X cubic meters in 2021, and then dropped significantly in the following year.

In value terms, argon imports contracted dramatically to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at $X in 2021, and then fell remarkably in the following year.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of argon to Venezuela, accounting for a X% share of total imports. Moreover, argon imports from the United States exceeded the figures recorded by the second-largest supplier, Colombia (X cubic meters), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Singapore (X% per year).

In value terms, Colombia ($X), Singapore ($X) and the United States ($X) appeared to be the largest argon suppliers to Venezuela.

Among the main suppliers, the United States, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average argon import price amounted to $X per cubic meter, picking up by X% against the previous year. Overall, the import price, however, showed a mild downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per cubic meter in 2020; however, from 2021 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 Singapore ($X per cubic meter), while the price for the United States ($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 Colombia (X%).

Source: IndexBox Platform

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