Argon market in Lithuania

Earlier Report Observations

Lithuania's argon market volume fluctuated between 2018 and 2024, starting at 1.45 million m³ in 2018 before dropping to 1.21 million m³ in 2019. It then recovered steadily over the next two years, reaching 1.47 million m³ in 2021.

The market expanded to 1.64 million m³ in 2022, a growth driven by global supply chain disruptions following Russia's invasion of Ukraine and rising European energy costs, which tightened argon availability and pushed prices upward. The subsequent year saw a modest contraction to 1.55 million m³ as supply chains began to normalize, stabilizing prices. In 2024, the market volume rose again to 1.60 million m³, supported by continued high electricity prices and supply-demand imbalances in Europe that kept argon prices elevated.

Throughout the period, domestic argon production gradually declined, while import volumes varied, reflecting the market's dependence on external supply conditions and international price trends.

Production argon in Lithuania

In value, 2018-2021, K $ US

Lithuania's argon production value increased for the second consecutive year. In 2021, output was valued at 256.8 K $ US, marking a 65.8% increase compared to the previous year. Between 2018 and 2021, production grew by 32.1%, which translates to an annualized rate of 9.7%. The lowest value was recorded in 2019 at 140.9 K $ US, with the largest decline that year at 27.5%.

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

In kind, 2018-2021, K m³

Lithuania's argon production volume rose for the second consecutive year. In 2021, 912 K m³ of argon were produced, up by 2.9% from 2020. Between 2018 and 2021, production decreased by 12.2%, equating to an annualized decline of 4.2%. The lowest volume was in 2019 at 812 K m³, with the largest drop that year at 21.8%. The biggest increase occurred in 2020, at 9.1%.

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

Exports argon from Lithuania

Exports in kind, K m³

Exported argon volumes from Lithuania declined for the third consecutive year. In 2021, exports registered 309 K m³, corresponding to a 5.6% year-over-year drop. Between 2018 and 2021, exports decreased by 53.3%, which translates to an annualized rate of decline of 22.4%.

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

From 2018 to 2021, Latvia, Russia, and Estonia remained the leading destinations for Lithuania's argon exports in volume terms. Latvia accounted for 38.0% of exports, Russia for 22.9%, and Estonia for 21.1%, with these three countries together making up 82.0% of total export flows.

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

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

Exports in value, K $ US

Argon exports from Lithuania increased in value for the second consecutive year. In 2021, export volume totaled 232.2 K $ US, showing a substantial gain of 15.3% year-over-year. Between 2018 and 2021, exports decreased by 48.2%, equating to an annualized decline of 19.7%. The lowest value was recorded in 2019 at 196.3 K $ US, with the largest drop that year at 56.2%.

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

In the period from 2018 to 2021, Latvia, Russia, and Estonia continued to be the main buyers of argon from Lithuania in value terms. Latvia accounted for 40.0% of exports, Russia for 25.0%, and Estonia for 19.7%, jointly forming 84.7% of total export value.

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

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

Imports argon to Lithuania

Imports in kind, K m³

Lithuania's argon imports increased in volume for the second consecutive year. In 2021, imports totaled 865 K m³, reflecting a solid rise of 12.5% compared to the previous year. Over the period from 2018 to 2021, imports decreased by 19.7%, with a compound annual growth rate of -7.0%. The lowest volume was recorded in 2019 at 760 K m³, with the largest decline that year at 29.4%.

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

From 2018 to 2021, Latvia, Finland, and Poland remained the leading sources for Lithuania's argon imports in volume terms. Latvia accounted for 52.4% of imports, Finland for 20.3%, and Poland for 19.7%, with these three countries together comprising 92.4% of total import flows.

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

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

Imports in value, K $ US

Foreign argon supplies to Lithuania increased in value for the third consecutive year. In 2021, Lithuania imported approximately 758.0 K $ US of argon, amounting to a rise of 27.5% year-over-year. Between 2018 and 2021, imports increased by 58.7%, equating to an annualized growth rate of 16.6%.

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

Over the period from 2018 to 2021, Latvia and Poland consistently accounted for 82.3% of total imports in value terms, indicating a high degree of concentration in the market, alongside a long tail of smaller suppliers.

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

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