ASEAN: Rare Gases Market 2024

Rare Gases Market Size in ASEAN

The ASEAN rare gases market amounted to $X in 2023, approximately reflecting the previous year. Overall, consumption, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Rare Gases Production in ASEAN

In value terms, rare gases production totaled $X in 2023 estimated in export price. Over the period under review, production, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Rare Gases Exports

Exports in ASEAN

After two years of growth, shipments abroad of rare gases (excluding argon) decreased by X% to X cubic meters in 2023. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X cubic meters in 2022, and then fell in the following year.

In value terms, rare gases exports fell significantly to $X in 2023. Overall, exports, however, saw a prominent increase. The growth pace was the most rapid in 2022 when exports increased by X%. As a result, the exports attained the peak of $X, and then reduced markedly in the following year.

Exports by Country

Singapore prevails in exports structure, recording X cubic meters, which was approx. X% of total exports in 2023. Malaysia (X cubic meters) held the second position in the ranking, followed by the Philippines (X cubic meters). All these countries together held approx. X% share of total exports. Thailand (X cubic meters), Vietnam (X cubic meters) and Indonesia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to rare gases exports from Singapore stood at X%. At the same time, Vietnam (X%), Malaysia (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), the Philippines (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Singapore (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest rare gases supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

In Singapore, rare gases 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: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per cubic meter in 2023, with a decrease of X% against the previous year. Overall, the export price, however, showed a noticeable increase. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per cubic meter in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per cubic meter), while the Philippines ($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 Thailand (X%), while the other leaders experienced more modest paces of growth.

Rare Gases Imports

Imports in ASEAN

In 2023, supplies from abroad of rare gases (excluding argon) decreased by X% to X cubic meters for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. The volume of import peaked at X cubic meters in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, rare gases imports contracted rapidly to $X in 2023. In general, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2023, Singapore (X cubic meters) represented the key importer of rare gases (excluding argon), comprising X% of total imports. Thailand (X cubic meters) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (X%), Indonesia (X%) and the Philippines (X%). Vietnam (X cubic meters) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the rare gases (excluding argon) imports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%), Thailand (X%), Malaysia (X%) and Vietnam (X%) displayed positive paces of growth. By contrast, the Philippines (X%) illustrated a downward trend over the same period. Singapore (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and the Philippines 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, Singapore ($X) constitutes the largest market for imported rare gases (excluding argon) in ASEAN, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by the Philippines, with a X% share.

In Singapore, rare gases imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the Philippines (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per cubic meter in 2023, dropping by X% against the previous year. In general, the import price, however, saw buoyant growth. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per cubic meter in 2022, and then fell significantly in the following year.

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 Malaysia ($X per cubic meter), while Indonesia ($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 Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform