Market research

Argon market in Estonia

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The argon market volume in Estonia declined from 1 175 thousand m³ in 2018 to 948 thousand m³ in 2020. During this period, the launch of the Balticconnector gas pipeline in 2020 created a unified gas market in the Finland-Estonia-Latvia region, which could affect the supply and access for inert gases like argon.

Market volume recovered to 1 036 thousand m³ in 2021 and surged to 1 449 thousand m³ in 2022, then remained nearly stable at 1 444 thousand m³ in 2023 before dropping sharply to 807 thousand m³ in 2024.

By 2025, broader developments in Estonia's energy and industrial sectors, such as enhanced energy security, rising renewable energy share, tighter industrial regulations, and investments in energy storage, are poised to influence industrial demand for argon.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2024
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2024
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Estonia
  1. 5.1.1. In kind, 2018-2024, K m³
  2. 5.1.2. In value, 2018-2024, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, K m³
  2. 5.2.2. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K m³
    1. 6.1.2.1. Annual dynamics of product's exports from Estonia in kind, 2018-2025, K m³
    2. 6.1.2.2. Dynamics of product's exports in kind from Estonia by countries, 2018-2025, K m³
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Estonia in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Estonia by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/K m³
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Estonia, 2018-2025, $ US/K m³
    2. 6.1.4.2. Dynamics of average price of product's exports from Estonia by countries, 2018-2025, $ US/K m³
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K m³
    1. 6.2.2.1. Annual dynamics of product's exports from Estonia in kind, 2018-2025, K m³
    2. 6.2.2.2. Dynamics of product's exports in kind from Estonia by countries, 2018-2025, K m³
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Estonia in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Estonia by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/K m³
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Estonia, 2018-2025, $ US/K m³
    2. 6.2.4.2. Dynamics of average price of product's exports from Estonia by countries, 2018-2025, $ US/K m³
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K m³
    1. 7.1.2.1. Annual dynamics of product's imports to Estonia in kind, 2018-2025, K m³
    2. 7.1.2.2. Dynamics of product's imports in kind to Estonia by countries, 2018-2025, K m³
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Estonia in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Estonia by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/K m³
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Estonia, 2018-2025, $ US/K m³
    2. 7.1.4.2. Dynamics of average price of product's imports to Estonia by countries, 2018-2025, $ US/K m³
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K m³
    1. 7.2.2.1. Annual dynamics of product's imports to Estonia in kind, 2018-2025, K m³
    2. 7.2.2.2. Dynamics of product's imports in kind to Estonia by countries, 2018-2025, K m³
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Estonia in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Estonia by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/K m³
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Estonia, 2018-2025, $ US/K m³
    2. 7.2.4.2. Dynamics of average price of product's imports to Estonia by countries, 2018-2025, $ US/K m³
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K m³
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K m³
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production argon in Estonia

In value, 2018-2021, K $ US

After a two-year decline, Estonia's argon production increased in 2021. The output was valued at 301.7 thousand US dollars, representing a significant rise of 61.2% compared to the previous year. Over the period from 2018 to 2021, production decreased by 41.7%, with a compound annual growth rate of -16.5%. The minimum value was recorded in 2020 at 187.2 thousand US dollars, while the largest decline occurred in 2019 at 56.2%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(56.2%)	(17.3%)	61.2%	(16.5%)

Source: SHEV.io

In kind, 2018-2021, K m³

Following a two-year fall, Estonia's argon production increased in 2021. The country produced 633 thousand cubic meters of argon, which is 30.6% higher than the previous year. From 2018 to 2021, production decreased by 40%, with a compound annual growth rate of -15.7%. The minimum value was recorded in 2020 at 485 thousand cubic meters, and the largest decline took place in 2019 at 45.6%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(45.6%)	(15.5%)	30.6%	(15.7%)

Source: SHEV.io

Exports argon from Estonia

Exports in kind, K m³

In 2021, Estonia exported 652 thousand cubic meters of argon, up by 21.0% compared to the previous year. Over the period from 2018 to 2021, exports increased by 10.5%, with a compound annual growth rate of 3.4%. The minimum value was recorded in 2020 at 539 thousand cubic meters, and the largest decline occurred in 2020 at 11.6%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	3.4%	(11.6%)	21.0%	3.4%

Source: SHEV.io

From 2018 to 2021, Latvia accounted for 87.9% of Estonia's total argon exports in volume, while the remaining volume was distributed among many countries with smaller individual shares.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

In 2021, Estonia's argon exports amounted to 348.5 thousand US dollars, which is 17.2% greater than the previous year. Over the period from 2018 to 2021, exports increased by 13.2%, with a compound annual growth rate of 4.2%. The minimum value was recorded in 2020 at 297.3 thousand US dollars, and the largest decline occurred in 2020 at 7.5%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	4.4%	(7.5%)	17.2%	4.2%

Source: SHEV.io

From 2018 to 2021, the country structure of Estonia's argon exports in value terms was heavily concentrated on Latvia, which held an 86.7% share of total flows, with other partners accounting for the remaining volume.

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

Source: SHEV.io

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

Source: SHEV.io

Imports argon to Estonia

Imports in kind, K m³

In 2021, Estonia's argon imports amounted to 1 055 thousand cubic meters, marking a modest increase of 5.3% compared to the previous year. Over the period from 2018 to 2021, imports increased by 48.5%, with a compound annual growth rate of 14.1%. The largest decline was recorded in 2020 at 0.0%, while the largest increase occurred in 2019 at 41.0%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	41.0%	0.0%	5.3%	14.1%

Source: SHEV.io

From 2018 to 2021, Finland, Poland, and Latvia were the main sources of Estonia's argon imports in volume, with shares of 40.8%, 26.2%, and 22.1% respectively, combining for 89.1% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, K $ US

After a two-year gain, Estonia's argon imports declined in 2021. The import volume totalled 624.9 thousand US dollars, indicating a substantial decrease of 10.1% from the year earlier. Over the period from 2018 to 2021, imports increased by 51.6%, with a compound annual growth rate of 14.9%. The maximum value was recorded in 2020 at 695.1 thousand US dollars, and the largest increase occurred in 2019 at 39.9%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	39.9%	20.5%	(10.1%)	14.9%

Source: SHEV.io

Throughout 2018 to 2021, Poland, Latvia, and Finland played the leading roles in Estonia's argon imports in value terms, with shares of 37.7%, 30.0%, and 18.3% respectively, jointly accounting for 85.9% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io