Argon market in Italy

Earlier Report Observations

The Italian argon market volume experienced significant fluctuations between 2018 and 2024. Starting at 72.6 million cubic meters in 2018, it surged to 131.6 million cubic meters in 2020, representing the highest point in the period. This was followed by a sharp contraction to 88.1 million cubic meters in 2021.

Market volume then stabilized and recovered partially, reaching 99.2 million cubic meters in 2023. However, in 2024, volume declined again to 81.4 million cubic meters. This recent decrease coincided with the European Central Bank's interest rate hikes, which made investments in new industrial plants and technologies more expensive, potentially slowing argon demand. Additionally, the implementation of EU directive 2015/2193 required adaptation of medium combustion plants by January 2024, affecting industrial operations that use argon.

Production argon in Italy

In value, 2017-2020, K $ US

Italy's argon production value increased for the second consecutive year. In 2020, output was valued at 89 961 K $ US, marking an 18.4% gain compared to 2019. The minimum value was recorded in 2018 at 55 292 K $ US, which also saw the largest decline of 41.1%. The largest increase occurred in 2019 with a 37.4% rise. Overall, between 2017 and 2020, production decreased by 4.2%, equating to an annualized rate of 1.4%.

Annual dynamics of production in Italy in value, 2017-2020, K $ US

In kind, 2017-2020, M m³

Market performance showed noticeable fluctuations during the period. The trough was recorded in 2018 with 46.3 M m³ of argon produced, which also saw the largest decline of 46.6%. In 2020, production peaked at 104.3 M m³, reflecting a dramatic advance of 83.4% compared to the previous year. The amplitude between the peak and trough was 2.3 times.

Annual dynamics of production in Italy in kind, 2017-2020, M m³

Exports argon from Italy

Exports in kind, K m³

After a two-year drop, argon exports from Italy increased. The minimum value was recorded in 2019 at 1 457 K m³, which also saw the largest decline of 20.1%. In 2020, Italy exported 1 942 K m³ of argon, reflecting an intense increase of 33.3% compared with 2019. Between 2017 and 2020, exports decreased by 12.2%, equating to an annualized rate of 4.2%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, K m³

Over the period 2017–2020, Slovenia, France, and Croatia remained the leading destinations in Italy's export structure by volume. Slovenia accounted for 58.3% of exports in kind, France for 10.1%, and Croatia for 9.0%. Together, these three countries represented 77.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, K $ US

After a two-year reduction, cross-border shipments of argon from Italy increased. The minimum value was recorded in 2019 at 1 959 K $ US, which also saw the largest decline of 21.5%. In 2020, exports amounted to 2 843 K $ US, corresponding to a steep improvement of 45.1% year-over-year. Over the period 2017-2020, exports increased by 7.7%, with a compound annual growth rate (CAGR) of 2.5%.

Annual dynamics of product's exports from Italy in value, 2017-2020, K $ US

In 2017–2020, France, Slovenia, and the United Kingdom continued to be the main buyers of argon from Italy by value. France accounted for 26.3% of exports in value terms, Slovenia for 25.2%, and the United Kingdom for 12.4%. Jointly, these three countries formed 63.9% of total exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports argon to Italy

Imports in kind, K m³

After a two-year increase, cross-border shipments of argon to Italy declined. The maximum value was recorded in 2019 at 36 443 K m³, which also saw the largest increase of 29.6%. In 2020, Italy imported approximately 29 233 K m³ of argon, showing a decrease of 19.8% compared to 2019. Between 2017 and 2020, imports increased by 6.6%, equating to an annualized rate of 2.1%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, K m³

Over 2017–2020, Germany, the Netherlands, and Austria stood out as the main markets for Italy's imports by volume. Germany accounted for 67.8% of imports in kind, the Netherlands for 10.8%, and Austria for 10.7%. Together, these three countries represented 89.4% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, K $ US

After a two-year rise, argon shipments to Italy from abroad declined. The maximum value was recorded in 2019 at 16 817 K $ US, while the largest increase occurred in 2018 with a 20.2% rise. In 2020, Italy imported a total of value_last_year K $ US of argon, indicating a drop of 6.1% versus the previous year. Between 2017 and 2020, imports increased by 19%, equating to an annualized rate of 6.0%.

Annual dynamics of product's imports to Italy in value, 2017-2020, K $ US

Throughout 2017–2020, Germany, the Netherlands, and Austria formed the core group of markets for Italy's imports by value. Germany accounted for 67.4% of imports in value terms, the Netherlands for 11.9%, and Austria for 6.7%. Together, these three countries represented 85.9% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020