Middle East: Rare Gases Market 2024

Rare Gases Market Size in the Middle East

The Middle Eastern rare gases market soared to $X in 2023, growing by X% against the previous year. Over the period under review, consumption, however, saw a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Rare Gases Production in the Middle East

In value terms, rare gases production dropped slightly to $X in 2023 estimated in export price. Over the period under review, production saw a drastic downturn. The pace of growth was the most pronounced in 2022 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Rare Gases Exports

Exports in the Middle East

In 2023, exports of rare gases (excluding argon) in the Middle East declined sharply to X cubic meters, waning by X% against 2022. Overall, exports, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X cubic meters in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, rare gases exports reduced dramatically to $X in 2023. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the largest exporter of rare gases (excluding argon) in the Middle East, with the volume of exports reaching X cubic meters, which was near X% of total exports in 2023. Turkey (X cubic meters) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%) and Bahrain (X%).

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of rare gases (excluding argon). At the same time, Turkey (X%), Bahrain (X%) and Saudi Arabia (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 2012-2023. While the share of Turkey (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per cubic meter in 2023, growing by X% against the previous year. Export price indicated a perceptible increase 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. As a result, the export price reached the peak level and is likely to continue 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 Turkey ($X per cubic meter), while Bahrain ($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 Turkey (X%), while the other leaders experienced mixed trends in the export price figures.

Rare Gases Imports

Imports in the Middle East

In 2023, approx. X cubic meters of rare gases (excluding argon) were imported in the Middle East; surging by X% against the year before. In general, imports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2019 with an increase of X%. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, rare gases imports soared to $X in 2023. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, Israel (X cubic meters), distantly followed by Oman (X cubic meters), Saudi Arabia (X cubic meters), Turkey (X cubic meters), Iran (X cubic meters), Iraq (X cubic meters), the United Arab Emirates (X cubic meters) and Kuwait (X cubic meters) represented the key importers of rare gases (excluding argon), together creating X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Israel, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 the Middle East stood at $X per cubic meter in 2023, rising by X% against the previous year. In general, the import price posted a resilient expansion. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

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 Turkey ($X per cubic meter), while Oman ($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 the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform