Southern Asia: Argon Market 2024

Argon Market Size in Southern Asia

The South Asian argon market rose significantly to $X in 2023, growing by X% against the previous year. The total consumption indicated a moderate increase from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Argon Production in Southern Asia

In value terms, argon production reached $X in 2023 estimated in export price. The total production indicated a perceptible increase from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Argon Exports

Exports in Southern Asia

Argon exports shrank markedly to X cubic meters in 2023, waning by X% compared with 2022. Over the period under review, exports, however, showed resilient growth. The growth pace was the most rapid in 2013 with an increase of X%. The volume of export peaked at X cubic meters in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, argon exports shrank to $X in 2023. In general, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of argon, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the argon exports, with a CAGR of X% from 2012 to 2023. From 2012 to 2023, the share of India increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest argon supplier in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in India totaled X%.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per cubic meter, increasing by X% against the previous year. Export price indicated a mild 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. Based on 2023 figures, argon export price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked in 2023 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Argon Imports

Imports in Southern Asia

In 2023, approx. X cubic meters of argon were imported in Southern Asia; waning by X% on the year before. Over the period under review, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2016 with an increase of X%. The volume of import peaked at X cubic meters in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, argon imports soared to $X in 2023. Overall, imports, however, saw a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Bangladesh represented the major importing country with an import of around X cubic meters, which recorded X% of total imports. Pakistan (X cubic meters) ranks second in terms of the total imports with a X% share, followed by India (X%). Nepal (X cubic meters) and Sri Lanka (X cubic meters) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to argon imports into Bangladesh stood at X%. At the same time, India (X%) and Nepal (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. Pakistan experienced a relatively flat trend pattern. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. Bangladesh (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka and Pakistan saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported argon in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in India totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per cubic meter in 2023, rising by X% against the previous year. Over the period under review, the import price continues to indicate a tangible expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 India ($X per cubic meter), while Nepal ($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 Pakistan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform