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World - Oxygen - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

World - Oxygen - Market Analysis, Forecast, Size, Trends And Insights

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Jul 21, 2021

When the World Overcomes the Pandemic-Driven Oxygen Shortages, Decarbonation May Emerge as a New Market Driver

IndexBox has just published a new report: 'World - Oxygen - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

New waves of the epidemic and the overwhelming demand for oxygen in the healthcare sector have led to a scarcity of the product worldwide. Countries with severe shortages are diverting oxygen from the sectors of metallurgy and chemistry to healthcare, which reduces the productivity of the manufacturing industries. As the pandemic slows, the demand for medical oxygen will return to pre-crisis levels. In the post-pandemic period, the growing demand from the metallurgical and chemical industries will continue to shape market expansion. Decarbonization may emerge as a new market driver, with oxygen being used to produce synthesis gas from carbon dioxide.

Key Trends and Insights

During the spread of the third Covid wave, the world faces a shortage of medical oxygen. Particularly acute gas shortages are being observed in India, Russia, Brazil, Argentina, Iran, Colombia, Philippines, Thailand, Malaysia, Pakistan, Costa Rica, Ecuador, Indonesia, Burma, Bangladesh, Nepal, and various African nations. Due to insufficient domestic production, these countries will increase their imports of oxygen in the coming months, and the largest exporters of oxygen, such as Belgium, France, and Germany, will become the primary suppliers.

The gas shortage problem could affect the currently booming metallurgy industry where oxygen is used in the steel-making process. In Russia, authorities have made calls to reduce oxygen consumption in metallurgy and redirect the gas supply to hospitals. In India, the chemical industry has been facing increased scrutiny as the government has ordered oxygen to be directed solely for medical use. As a result, several chemical enterprises have been forced to cease production.

The demand from the medical industry is expected to act as a powerful driver in the expansion of the oxygen market over the next two years. Indonesia, China, India, the U.S., and the EU countries are actively increasing oxygen production. Should the pandemic wane due to the widespread vaccination and the formation of herd immunity, the demand for medical oxygen is expected to return to pre-crisis levels.

The global decarbonization policy will stimulate oxygen consumption in the chemicals industry to produce synthesis gas from carbon dioxide. Synthesis gas, also called syngas, serves as feedstock for the synthesis of hydrocarbons and their derivatives. In the process of synthesizing methanol, acetic acid, diesel fuel and many other important chemical products, synthesis gas obtained from CO2 can successfully replace petroleum feedstock and natural gas.

Besides the climate agenda, metallurgy and chemistry are to remain to buoy the global oxygen demand. In the coming years, the demand for metals is to continue growing on a post-pandemic recovery of the economies worldwide. New alternative energy facilities would also require metal to be built. Another impact for the market may come from the global aerospace industry, where oxygen is used as a fuel oxidizer in rocket engines. Space exploration programs and the rapid development of private space companies will drive the growth of oxygen demand in this segment.

Given those prerequisites, the global oxygen market is expected to expand rapidly in the next few years and then to continue more moderate but steady growth. By the end of 2030, the global oxygen market is forecast to exceed $53B.

Global Oxygen Consumption

The global oxygen market stood at $32.6B in 2020. This figure reflects the total revenues of producers and importers (excluding logistics costs, indirect taxes and intermediaries' margins, which will be included in the final price). Hereinafter in the article, all figures refer to oxygen sold as a commercial product and don't include volumes produced on-site for own consumption within an enterprise.

In value terms, China ($8.7B) led the market, alone. The second position in the ranking was occupied by Russia ($3.6B). It was followed by India ($2.9B).

Global Oxygen Exports

In value terms, oxygen exports shrank to $166M (IndexBox estimates) in 2020. In 2020, overseas shipments of oxygen decreased by -4% to 986M cubic meters. Over the period under review, total exports indicated a pronounced increase from 2007 to 2020: its volume increased at an average annual rate of +3.1% over the last thirteen years.

In 2020, Belgium (291M cubic meters), distantly followed by France (179M cubic meters), Austria (45M cubic meters), and Kuwait (45M cubic meters) were the main exporters of oxygen, together mixing up 57% of total exports. Germany (41M cubic meters), the U.S. (40M cubic meters), Poland (37M cubic meters), Portugal (33M cubic meters), the Czech Republic (32M cubic meters), the Netherlands (31M cubic meters), Italy (21M cubic meters), Croatia (20M cubic meters) and Singapore (16M cubic meters) followed a long way behind the leaders.

In value terms, the largest oxygen supplying countries worldwide were Belgium ($26M), France ($22M) and the U.S. ($12M), together comprising 36% of global exports. These countries were followed by Kuwait, Portugal, Germany, Italy, the Netherlands, Austria, the Czech Republic, Poland, Croatia and Singapore, which together accounted for a further 38%.

Therefore, the average oxygen export price stood at $0.2 per cubic meter in 2020 and remained relatively stable against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Italy ($0.4 per cubic meter), while Belgium ($0.1 per cubic meter) was amongst the lowest.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global oxygen market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20111170 - Oxygen

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Air Liquide, Linde, Air Products, BASF SE, Alcogroup S.A., Assogastecnici, BOC Ltd., BTG-GTB, Buse Gas B.V., Carbagas, IGV, Irish Oxygen Company, Strabenz Plini, Messer, Nippon Gases, Oxygen & Argon Works Ltd, Shell Global Solutions International, SIAD, SOL, Chemicals Inc., National Oxygen Ltd., Bhagawati Oxygen Ltd., Gagan Gases Ltd., Everest Kanto Cylinder Ltd., Airgas, Inox Air Products, Atul Oxygen Company, Aims Industries, PK Carbonics, Vinayak Air Products, Scoop Industries, Hiltone, Raj Gas Industries, Kashmir Gases, Universal Air Products, Popular Carbonic, Raigad Carbides

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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