Argon market in Russia

Earlier Report Observations

The Russian argon market volume increased steadily from 104.1 million m³ in 2018 to 136.2 million m³ in 2021. This growth was initially fueled by rising demand from metallurgy and welding technologies, which led to the launch of new large-scale production facilities in the Urals region. Government support programs and investments in equipment modernization further boosted output. Despite COVID-19 related supply chain disruptions in 2020, state aid helped maintain production. The market accelerated in 2021 after sanctions against Russia reshaped trade flows, prompting import substitution and activating major domestic exporters to expand their operations.

Market expansion continued through 2022, reaching 156.3 million m³, driven by strong industrial demand, particularly from metallurgy, and ongoing adaptation to geopolitical constraints. Changes in public procurement rules and the development of new application segments, such as electronics, supported this growth. In the following years, the pace of increase moderated, with the market reaching 161.6 million m³ in 2023 and 165.9 million m³ in 2024, reflecting a period of consolidation after the rapid earlier expansion.

Production argon in Russia

In kind, 2018-2021, M m³

Russia's argon production has been growing for three consecutive years. In 2021, the country produced 130.9 million cubic meters of argon, marking a 7.4% increase from 2020. Looking at the period from 2018 to 2021, production rose by 34.2%, which translates to an average annual growth rate of 10.3%.

Annual dynamics of production in Russia in kind, 2018-2021, M m³

Exports argon from Russia

Exports in kind, K m³

The market experienced significant fluctuations during this period. Export volumes varied considerably, with the lowest point in 2018 and the highest in 2019, showing a 4.4-fold difference between these years. In 2021, Russia's argon exports reached 3,465 thousand cubic meters, representing a sharp decline of 36.2% compared to the previous year. The peak was recorded in 2019 at 6,886 thousand cubic meters, which also saw the largest annual increase of 339.3%.

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

From 2018 to 2021, the core of Russia's argon exports in volume terms consisted of Belarus (28.9% of total exports), Ukraine (28.5%), and Azerbaijan (12.9%). Together, these three countries accounted for 70.3% of all export flows.

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

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

Exports in value, K $ US

In 2021, Russia's argon export value totaled 2,887 thousand US dollars, showing a significant increase of 15.3% year-over-year. Between 2018 and 2021, exports grew by 36.2%, with an average annual rate of 10.9%. The highest value was recorded in 2019 at 3,204 thousand US dollars, which also saw the largest annual increase of 51.2%. In contrast, the largest decline occurred in 2020, with a drop of 21.9%.

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

During the 2018–2021 period, three key markets—Azerbaijan, Belarus, and Ukraine—collectively accounted for 68.0% of Russia's total argon export value.

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

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

Imports argon to Russia

Imports in kind, K m³

The import market showed volatility over the observed period. The lowest volume was recorded in 2020, while the peak occurred in 2019, with a 3.6-fold difference between these years. In 2021, argon deliveries to Russia reached 8,889 thousand cubic meters, reflecting a dramatic increase of 259.0% compared to the prior year. The minimum value was 2,476 thousand cubic meters in 2020, and the maximum was 8,930 thousand cubic meters in 2019, which also saw the largest annual decline of 72.3%.

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

From 2018 to 2021, Russia's argon imports in volume terms were primarily directed from Kazakhstan and Ukraine, whose combined share reached 85.1% of total flows, with other sources playing a minor role.

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

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

Imports in value, K $ US

In 2021, argon shipments to Russia from abroad totaled 1,917 thousand US dollars, marking a substantial increase of 39.5% over the previous year. Over the 2018-2021 period, imports rose by 80.4%, with a compound annual growth rate of 21.7%. The largest decline was recorded in 2020 at 19.2%, while the largest increase occurred in 2019, with a jump of 60.1%.

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

Between 2018 and 2021, the primary suppliers of argon to Russia in value terms were Ukraine (39.4% of total imports), Kazakhstan (22.9%), and Belarus (9.3%). Together, these three countries accounted for 71.5% of all import value.

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

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