Hydrogen, rare gases and other non-metals market in Finland

Earlier Report Observations

The market for hydrogen, rare gases and other non-metals in Finland showed considerable value fluctuations from 2018 to 2024. In 2018, the market was valued at $274.9 million, supported by growing demand for rare gases in healthcare applications like MRI machines and in electronics for semiconductor manufacturing. The market then declined to $190.3 million by 2020, before recovering strongly to a peak of $310.5 million in 2022.

From 2023, the market value decreased to $279.7 million, coinciding with a reported 2% drop in Finland's electricity consumption that year, indicating broader economic softening. In 2024, the market fell further to $235.0 million. During this period, significant developments in the hydrogen sector unfolded, including a government mandate for Gasgrid Finland to develop a national hydrogen pipeline system and the commissioning of the country's first industrial-scale green hydrogen plant. Globally, tightening environmental regulations on nitrogen oxide emissions from rare gas production also increased operational costs, influencing market dynamics.

Production hydrogen, rare gases and other non-metals in Finland

In value, 2017-2020, M $ US

Finland's production of hydrogen, rare gases, and other non-metals declined for the second year in a row. In 2020, output was valued at 181.2 million US dollars, showing a modest decrease of 6.8% compared to the previous year. Over the period from 2017 to 2020, production fell by 21%, with a compound annual growth rate of -7.6%. The highest value was recorded in 2018 at 264.2 million US dollars, which also saw the largest increase of 15.2%. In contrast, 2019 experienced the largest decline of 26.4%.

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

Exports hydrogen, rare gases and other non-metals from Finland

Exports in kind, t

The market showed an unstable trend over the period. Exports bottomed in 2017 and peaked in 2018, with a 4.6-fold difference between these years. In 2020, Finland's exports of hydrogen, rare gases, and other non-metals stood at 69 tonnes, marking a steep rise of 74.2% compared to 2019. The maximum volume was recorded in 2018 at 153 tonnes, which also saw the largest increase of 360.4%. The largest decline occurred in 2019, with a drop of 74.1%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, China, the Netherlands, and Russia led the structure of exports in kind. China accounted for 40.8% of exports, the Netherlands for 18.0%, and Russia for 15.9%. Together, these three countries represented 74.7% of total export flows.

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

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

Exports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Exports reached their lowest point in 2019 and peaked in 2018, with a 4.4-fold gap between these years. In 2020, deliveries of hydrogen, rare gases, and other non-metals from Finland totalled 392 thousand US dollars, marking an abrupt rise of 76.8% year-over-year. The minimum value was recorded in 2019 at 221 thousand US dollars, which also saw the largest decline of 77.2%. The maximum value was in 2018 at 972 thousand US dollars, with the largest increase of 314.6%.

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

From 2017 to 2020, China, Sweden, and Russia were the main buyers of hydrogen, rare gases, and other non-metals from Finland in value terms. China accounted for 48.9% of exports, Sweden for 17.3%, and Russia for 10.7%. Together, these three countries formed 76.9% of total export value.

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

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

Imports hydrogen, rare gases and other non-metals to Finland

Imports in kind, t

The market showed an unstable trend over the period. Imports peaked in 2017 and fell to their lowest point in 2019, with a 2.3-fold swing between these years. In 2020, the volume of hydrogen, rare gases, and other non-metals imports into Finland totalled 16 151 tonnes, equivalent to a sharp rise of 99.2% compared to the previous year. The minimum volume was recorded in 2019 at 8 109 tonnes, which also saw the largest decline of 50.1%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Sweden remained the key destination for hydrogen, rare gases, and other non-metals imports into Finland, accounting for 75.0% of total imports in kind. Other destinations were much less significant during this period.

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

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

Imports in value, K $ US

Finland's imports of hydrogen, rare gases, and other non-metals declined for the third consecutive year. In 2020, imports totalled 9 482 thousand US dollars, marking a measured decline of 4.5% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 18.9%, with a compound annual growth rate of -6.8%.

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

Throughout 2017 to 2020, the Netherlands, Sweden, and Germany remained the key partners for imports in value terms. The Netherlands accounted for 31.1% of imports, Sweden for 30.6%, and Germany for 25.9%. Together, these three countries accounted for 87.6% of total import flows.

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

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