Eastern Asia: Argon Market 2024

Argon Market Size in Eastern Asia

The East Asian argon market totaled $X in 2023, remaining constant against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Argon Production in Eastern Asia

In value terms, argon production stood at $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a lower figure.

Argon Exports

Exports in Eastern Asia

Argon exports fell slightly to X cubic meters in 2023, which is down by X% compared with 2022 figures. Total exports indicated a pronounced increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X cubic meters in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, argon exports shrank to $X in 2023. Over the period under review, exports, however, enjoyed perceptible growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, finishing at X cubic meters, which was approx. X% of total exports in 2023. It was distantly followed by South Korea (X cubic meters), comprising a X% share of total exports. Taiwan (Chinese) (X cubic meters) took a little share of total exports.

China was also the fastest-growing in terms of the argon exports, with a CAGR of X% from 2012 to 2023. Taiwan (Chinese) experienced a relatively flat trend pattern. South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest argon supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with an X% share of total exports.

In China, argon exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per cubic meter, reducing by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per cubic meter. From 2022 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per cubic meter), while China ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Argon Imports

Imports in Eastern Asia

In 2023, purchases abroad of argon was finally on the rise to reach X cubic meters for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, argon imports soared to $X in 2023. In general, imports, however, saw a slight contraction. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) dominates imports structure, finishing at X cubic meters, which was near X% of total imports in 2023. It was distantly followed by Hong Kong SAR (X cubic meters), achieving a X% share of total imports.

Taiwan (Chinese) experienced a relatively flat trend pattern with regard to volume of imports of argon. Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Taiwan (Chinese) increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported argon in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports.

In Taiwan (Chinese), argon imports contracted by an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

The import price in Eastern Asia stood at $X per cubic meter in 2023, which is down by X% against the previous year. Over the period under review, the import price showed a slight downturn. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per cubic meter), while Taiwan (Chinese) stood at $X per cubic meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Source: IndexBox Platform