Greece: Argon Market 2024

Argon Market Size in Greece

After two years of growth, the Greek argon market decreased by X% to $X in 2023. Over the period under review, consumption, however, recorded a resilient expansion. As a result, consumption attained the peak level of $X, and then declined in the following year.

Argon Production in Greece

In value terms, argon production dropped to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Argon production peaked at $X in 2022, and then shrank in the following year.

Argon Exports

Exports from Greece

After two years of growth, overseas shipments of argon decreased by X% to X cubic meters in 2023. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X cubic meters in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, argon exports shrank significantly to $X in 2023. Over the period under review, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

North Macedonia (X cubic meters) was the main destination for argon exports from Greece, with a X% share of total exports. Moreover, argon exports to North Macedonia exceeded the volume sent to the second major destination, Turkey (X cubic meters), threefold. Romania (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to North Macedonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Romania (X% per year).

In value terms, North Macedonia ($X) remains the key foreign market for argon exports from Greece, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Albania, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to North Macedonia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Albania (X% per year).

Export Prices by Country

The average argon export price stood at $X per cubic meter in 2023, picking up by X% against the previous year. In general, the export price saw a strong expansion. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per cubic meter. From 2021 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Albania ($X per cubic meter), while the average price for exports to North Macedonia ($X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Argon Imports

Imports into Greece

In 2023, after four years of growth, there was significant decline in purchases abroad of argon, when their volume decreased by X% to X cubic meters. In general, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at X cubic meters in 2022, and then fell in the following year.

In value terms, argon imports stood at $X in 2023. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports by Country

Romania (X cubic meters), Bulgaria (X cubic meters) and Serbia (X cubic meters) were the main suppliers of argon imports to Greece, with a combined X% share of total imports.

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

In value terms, Romania ($X), Serbia ($X) and Bulgaria ($X) were the largest argon suppliers to Greece, together accounting for X% of total imports.

Serbia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average argon import price stood at $X per cubic meter in 2023, increasing by X% against the previous year. Over the period under review, the import price posted a strong increase. The most prominent rate of growth was recorded in 2022 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is likely to see gradual growth in years to come.

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

Source: IndexBox Platform