Argon market in Denmark

Earlier Report Observations

The Danish argon market showed considerable volatility from 2018 to 2024. After reaching 19 090 thousand USD in 2018, its value fell sharply to 14 210 thousand USD in 2019 before recovering to 19 412 thousand USD in 2020 and 19 982 thousand USD in 2021. Established suppliers like Air Liquide provided argon for welding and metal processing throughout this period, indicating a stable industrial base.

In 2022, high inflation and rising energy costs in Denmark affected the industrial gas sector, contributing to a slight market consolidation at 19 654 thousand USD. That year also saw updated technical safety regulations for gas storage, including inert gases like argon, through Executive Order No. 981. The market then grew to 22 970 thousand USD in 2023, a period which coincided with the implementation of new EU-derived energy management rules and updated building codes, potentially boosting demand from energy-intensive and construction industries.

A pronounced decline followed in 2024, with the market value dropping to 15 405 thousand USD. Ongoing EU sustainability regulations for product packaging continued to evolve, though their direct impact on the argon market remained indirect.

Production argon in Denmark

In value, 2018-2021, K $ US

Denmark's argon production value increased for the second consecutive year. In 2021, argon output in Denmark was valued at 17 942 K $ US, representing a moderate 6.1% increase compared to the previous year. Over the period from 2018 to 2021, production grew by 3.4%, with a compound annual growth rate of 1.1%. The lowest value was recorded in 2019 at 13 159 K $ US, which saw the largest decline of 24.1%. The largest increase occurred in 2020, with a 28.4% rise.

Annual dynamics of production in Denmark in value, 2018-2021, K $ US

In kind, 2018-2021, K m³

Argon production in Denmark increased for the second consecutive year. In 2021, Denmark produced 4 620 K m³ of argon, marking a 1.5% year-over-year gain. From 2018 to 2021, production rose by 4.2%, with a compound annual growth rate of 1.4%.

Annual dynamics of production in Denmark in kind, 2018-2021, K m³

Exports argon from Denmark

Exports in kind, K m³

The data reveals irregular changes, indicating a volatile market environment. Exports reached their lowest point in 2020 at 247 K m³ and peaked in 2021 at 1 341 K m³, representing a 5.4-fold increase. In 2021, argon exports from Denmark totaled 1 341 K m³, showing a sharp uptick of 443.8% from 2020. The largest decline was recorded in 2019 at 62.2%.

Annual dynamics of product's exports from Denmark in kind, 2018-2021, K m³

Throughout 2018–2021, Sweden dominated the geographical structure of Denmark's argon exports in kind, accounting for 96.6% of total flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Denmark in kind, 2018-2021

Exports in value, K $ US

Volatility characterized the market behavior during these years. Exports fell to their lowest point in 2020 at 696 K $ US and hit their maximum in 2021 at 1 585 K $ US, a 2.3-fold variation. In 2021, foreign argon supplies from Denmark amounted to 1 585 K $ US, up by 127.5% compared to the previous year. The largest decline was recorded in 2020 at 27.4%.

Annual dynamics of product's exports from Denmark in value, 2018-2021, K $ US

Throughout 2018–2021, Sweden (59.2% of exports in value terms), Norway (14.6%), and the Faroe Islands (12.7%) formed the core group of markets for Denmark's argon exports in value terms, together representing 86.5% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Denmark in value, 2018-2021

Imports argon to Denmark

Imports in kind, K m³

There were noticeable fluctuations in market performance during the period. Import volumes dropped to a minimum in 2019 at 4 377 K m³ and climbed to their maximum in 2020 at 11 689 K m³, a 2.7-fold shift. In 2021, argon import volumes in Denmark amounted to 7 977 K m³, which is 31.8% less compared to 2020. The largest decline was recorded in 2019 at 35.0%, while the largest increase occurred in 2020 at 167.0%.

Annual dynamics of product's imports to Denmark in kind, 2018-2021, K m³

Over 2018–2021, Germany and Sweden consistently accounted for 90.1% of Denmark's total argon imports in kind, indicating a high degree of concentration alongside a long tail of smaller markets.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Denmark in kind, 2018-2021

Imports in value, K $ US

Argon imports in Denmark increased for the second consecutive year. In 2021, imports amounted to 3 625 K $ US, constituting a significant advance of 13.1% compared to 2020. Between 2018 and 2021, imports increased by 21.3%, equating to a 6.7% annualized rate. The minimum value was recorded in 2019 at 2 011 K $ US, which saw the largest decline of 32.7%. The largest increase was recorded in 2020 at 59.4%.

Annual dynamics of product's imports to Denmark in value, 2018-2021, K $ US

Throughout 2018–2021, Germany and Sweden remained the principal directions for Denmark's argon imports in value terms, jointly taking 83.6% of total flows, with other partners each accounting for significantly smaller shares.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Denmark in value, 2018-2021