Rare gases market in Finland

Earlier Report Observations

The rare gases market in Finland saw a gradual contraction in physical volume from over 51 million cubic meters in 2018 to around 43 million cubic meters in 2024, while its monetary value remained more stable, ending the period near 38.7 million dollars. This dynamic was shaped by major infrastructure developments and evolving EU regulations. The completion of the Balticconnector pipeline in early 2020 and the subsequent launch of new LNG terminals improved the logistical framework for gases like biomethane. Simultaneously, the prolonged preparation and final enactment of the EU F-gas Regulation (EU-2024/573) compelled manufacturers to reassess the use of fluorinated gases in refrigeration and air conditioning, influencing market volumes.

State support mechanisms played a crucial role in directing demand. Consistent subsidies for gas-powered vehicle purchases and conversions, solidified by the low-emission vehicle support law effective from 2022, bolstered consumption of biogas and other rare gases in transport. Furthermore, the abrupt halt of pipeline gas imports from Russia in 2022 accelerated LNG capacity expansion and opened the market for imported liquefied biogas, altering supply patterns amid geopolitical shifts.

The regulatory landscape reached a milestone in March 2024 when the EU F-gas Regulation fully came into force, introducing mandatory labeling and quota exemptions for greenhouse gases like HFCs and SF₆. This directly affected industrial sectors, prompting a shift towards alternative gases in switchgear and cooling applications. Combined with continued public funding for refueling infrastructure under the AFIR scheme, these factors drove both adaptation and investment in the rare gases market throughout the period.

Production rare gases in Finland

In value, 2017-2020, K $ US

In 2020, Finland's rare gases production was valued at 30 217 thousand US dollars, showing a slight increase of 0.7% compared to the previous year. Over the period from 2017 to 2020, production grew by 48.2%, with an average annual growth rate of 14.0%. The highest value was recorded in 2018 at 31 586 thousand US dollars. The largest decline occurred in 2019, with a drop of 5.0%, while the most significant increase was in 2018, at 54.9%.

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

In kind, 2017-2020, K m³

Finland's rare gases production volume declined for the second consecutive year. In 2020, the country produced 38 839 thousand cubic meters, reflecting a modest decrease of 9.0% year-over-year. Between 2017 and 2020, overall production increased by 46.9%, translating to an annualized growth rate of 13.7%. The peak volume was recorded in 2018 at 44 581 thousand cubic meters, with the largest increase that year at 68.6%.

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

Exports rare gases from Finland

Exports in kind, K m³

Market performance showed noticeable fluctuations during the period. The minimum export volume was recorded in 2018, while the maximum was in 2019, with an 18-fold difference between these years. In 2020, Finland exported 1 thousand cubic meters of rare gases, marking a reduction of 10.0% from the previous year. The largest increase occurred in 2019, at 1,748.7%.

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

From 2017 to 2020, Finland's rare gases exports in kind were almost entirely concentrated in Norway, which accounted for 98.2% of the total.

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 volatility over the observed period. The trough in export value was in 2018, while the peak was in 2019, with a 44-fold gap between these years. In 2020, Finland exported 11 thousand US dollars worth of rare gases, down by 8.2% from the previous year. The largest increase was recorded in 2019, at 4,343.3%.

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

Between 2017 and 2020, the main markets for Finland's rare gases exports in value terms were Norway (35.4% of exports), the Dominican Republic (25.7%), and Mexico (1.5%). Together, these three countries accounted for 62.7% of total export flows.

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

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

Imports rare gases to Finland

Imports in kind, K m³

After a two-year decline, Finland's rare gases import volume increased. In 2020, the country imported 4 964 thousand cubic meters, representing a 29.4% gain compared to 2019. Over the period from 2017 to 2020, imports decreased by 7.3%, equating to an annualized decline of 2.5%. The lowest volume was recorded in 2019, with the largest decline that year at 22.9%.

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

Throughout 2017 to 2020, Sweden remained the primary destination for Finland's rare gases imports in kind, taking 75.4% of total flows, while the remaining share was distributed among various smaller markets.

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

After a two-year gain, Finland's imported rare gases volumes declined. In 2020, imports totaled 4 767 thousand US dollars, indicating a strong decrease of 14.7% compared to the previous year. Over the period from 2017 to 2020, imports increased by 21.1%, with a compound annual growth rate of 6.6%. The maximum value was recorded in 2019 at 5 589 thousand US dollars, with the largest increase that year at 37.4%.

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

From 2017 to 2020, Germany and Sweden were the key partner countries for Finland's rare gases imports in value terms, together accounting for 82.8% of total flows, with other partners making up the remainder.

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

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