Argon market in Spain

Earlier Report Observations

The Spanish argon market volume fluctuated between 60 565 and 65 363 thousand cubic meters from 2018 to 2024, with peaks in 2021 and 2023 and troughs in 2020 and 2022. The market value declined from $104.1 million in 2018 to $98.0 million in 2020 before rising consistently to $137.9 million by 2024, indicating shifting cost and price dynamics over the period.

In 2022, a new air separation unit (ASU) commenced operations in Spain, adding over 2 000 tonnes of argon production capacity to the local supply base. This expansion coincided with growing industrial demand for argon, particularly from the electronics sector for semiconductor chip cleaning. Labor market tightness and inflationary pressures in 2023 introduced constraints on production and distribution, yet the market volume recovered strongly that year. By 2024, the continued operation of the ASU supported domestic output, while persistent labor shortages moderated industrial activity.

Production argon in Spain

In value, 2017-2020, M $ US

Argon production in Spain declined for the second consecutive year. In 2020, output was valued at 100.2 million US dollars, showing a moderate decrease of 3.6% compared to the previous year. Over the period from 2017 to 2020, production increased by 5.1%, with a compound annual growth rate of 1.7%. The highest value was recorded in 2018 at 108.0 million US dollars, which also saw the largest increase of 13.3%. The most significant decline occurred in 2019, with a drop of 3.7%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, K m³

After two years of growth, argon production in Spain declined. In 2020, Spain produced 69,861 thousand cubic meters of argon, representing an 8.2% decrease year-over-year. From 2017 to 2020, production decreased by 3.7%, with a compound annual growth rate of 1.3%. The peak was in 2019, with 76,064 thousand cubic meters, while the largest increase was in 2018 at 3.2%.

Annual dynamics of production in Spain in kind, 2017-2020, K m³

Exports argon from Spain

Exports in kind, K m³

The market showed an unstable trend throughout the period. Exports varied significantly, with a 2-fold difference between the minimum in 2017 and the maximum in 2019. In 2020, cross-border shipments of argon from Spain amounted to 13,488 thousand cubic meters, down 15.0% from the previous year. The highest value was recorded in 2019 at 15,875 thousand cubic meters, and the largest increase occurred in 2018, with a jump of 91.9%.

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

From 2017 to 2020, Portugal dominated the partner structure of exports in kind, consistently accounting for 93.3% of total flows.

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

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

Exports in value, K $ US

After a two-year rise, cross-border shipments of argon from Spain declined. In 2020, export volume totaled 4,165 thousand US dollars, marking a steep decline of 29.4% compared to 2019. The highest value was in 2019 at 5,898 thousand US dollars, and the largest increase was in 2018, with a rise of 35.4%.

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

From 2017 to 2020, Portugal remained the key destination for argon exports from Spain, accounting for 76.5% of total exports in value terms, while other destinations were much less significant.

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

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

Imports argon to Spain

Imports in kind, K m³

Spain's argon imports increased for the third consecutive year. In 2020, Spain imported 4,188 thousand cubic meters of argon, showing a substantial improvement of 32.4% compared to the previous year. Between 2017 and 2020, imports grew by 67.1%, equating to an annualized rate of 18.7%.

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

From 2017 to 2020, Portugal (34.2% of imports in kind), the Netherlands (24.0% of imports in kind), and Honduras (23.5% of imports in kind) accounted for the largest share of imports in kind, together comprising 81.7% of total flows.

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

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

Imports in value, K $ US

Argon imports to Spain increased for the second consecutive year. In 2020, imports totaled 1,972 thousand US dollars, indicating a moderate gain of 6.4% from 2019. Over the period from 2017 to 2020, imports decreased by 29.6%, with a compound annual growth rate of 11.1%. The lowest value was recorded in 2018 at 1,797 thousand US dollars, which also saw the largest decline of 35.9%.

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

Throughout 2017 to 2020, Portugal (47.2% of imports in value terms), France (18.3% of imports in value terms), and Honduras (12.1% of imports in value terms) formed the core of imports in value terms, together accounting for 77.7% of total flows.

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

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