Eastern Europe: Argon Market 2024

Argon Market Size in Eastern Europe

In 2023, the East European argon market decreased by X% to $X for the first time since 2015, thus ending a seven-year rising trend. The total consumption indicated a perceptible expansion from 2012 to 2023: its value 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, consumption increased by X% against 2015 indices. As a result, consumption attained the peak level of $X, and then declined in the following year.

Argon Production in Eastern Europe

In value terms, argon production fell to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2022, and then fell in the following year.

Argon Exports

Exports in Eastern Europe

In 2023, argon exports in Eastern Europe skyrocketed to X cubic meters, jumping by X% on the year before. Total exports indicated a strong increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, argon exports skyrocketed to $X in 2023. Overall, exports enjoyed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2023, the Czech Republic (X cubic meters), distantly followed by Poland (X cubic meters), Russia (X cubic meters), Romania (X cubic meters) and Moldova (X cubic meters) represented the largest exporters of argon, together comprising X% of total exports. The following exporters - Latvia (X cubic meters) and Estonia (X cubic meters) - each resulted at a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Moldova (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest argon supplying countries in Eastern Europe were the Czech Republic ($X), Poland ($X) and Russia ($X), with a combined X% share of total exports. Romania, Moldova, Latvia and Estonia lagged somewhat behind, together accounting for a further X%.

Moldova, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per cubic meter in 2023, rising by X% against the previous year. Export price indicated resilient growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, argon export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

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 Romania ($X per cubic meter), while Latvia ($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 Moldova (X%), while the other leaders experienced more modest paces of growth.

Argon Imports

Imports in Eastern Europe

In 2023, the amount of argon imported in Eastern Europe skyrocketed to X cubic meters, growing by X% compared with the previous year's figure. Total imports indicated strong growth 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, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, argon imports soared to $X in 2023. Over the period under review, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Russia (X cubic meters) and Poland (X cubic meters) represented the largest importers of argon in Eastern Europe, together accounting for near X% of total imports. Slovakia (X cubic meters) held the next position in the ranking, followed by Romania (X cubic meters) and Hungary (X cubic meters). All these countries together took approx. X% share of total imports. The following importers - the Czech Republic (X cubic meters), Moldova (X cubic meters), Bulgaria (X cubic meters), Latvia (X cubic meters), Estonia (X cubic meters), Belarus (X cubic meters) and Ukraine (X cubic meters) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Romania ($X) and Slovakia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Hungary, Bulgaria, the Czech Republic, Moldova, Ukraine, Latvia, Estonia, Russia and Belarus lagged somewhat behind, together comprising a further X%.

Ukraine, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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 Eastern Europe stood at $X per cubic meter in 2023, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. The level of import peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Ukraine ($X per cubic meter), while Russia ($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 Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform