Asia: Oxygen Market 2025

Oxygen Market Size in Asia

The Asian oxygen market expanded slightly to $X in 2022, growing by 2.8% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Oxygen Production in Asia

In value terms, oxygen production reached $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 17%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Oxygen Exports

Exports in Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of oxygen, when their volume decreased by -22.3% to X cubic meters. Over the period under review, exports, however, continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2014 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum at X cubic meters in 2021, and then contracted rapidly in the following year.

In value terms, oxygen exports shrank dramatically to $X in 2022. Total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +11.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 53%. As a result, the exports attained the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Kuwait was the key exporting country with an export of about X cubic meters, which resulted at 49% of total exports. Singapore (X cubic meters) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (11%), Hong Kong SAR (4.7%) and Malaysia (4.6%). The following exporters - Syrian Arab Republic (X cubic meters), Saudi Arabia (X cubic meters), India (X cubic meters), China (X cubic meters) and Thailand (X cubic meters) - together made up 17% of total exports.

Exports from Kuwait increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Hong Kong SAR (+26.5%), Turkey (+21.2%), India (+14.7%), Saudi Arabia (+13.2%), Thailand (+9.6%), China (+7.1%), Syrian Arab Republic (+5.2%) and Malaysia (+3.3%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.5% from 2012-2022. By contrast, Singapore (-10.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait, Turkey, Hong Kong SAR, India and Saudi Arabia increased by +20, +8.6, +4.1, +2.7 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest oxygen supplying countries in Asia were Kuwait ($X), Singapore ($X) and Turkey ($X), together accounting for 56% of total exports. China, Hong Kong SAR, Syrian Arab Republic, Malaysia, Saudi Arabia, India and Thailand lagged somewhat behind, together accounting for a further 32%.

Among the main exporting countries, Hong Kong SAR, with a CAGR of +25.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per cubic meter in 2022, falling by -3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 27% against the previous year. The level of export peaked at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while Kuwait ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the other leaders experienced more modest paces of growth.

Oxygen Imports

Imports in Asia

After two years of growth, purchases abroad of oxygen decreased by -26% to X cubic meters in 2022. Over the period under review, imports, however, enjoyed a modest expansion. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. As a result, imports attained the peak of X cubic meters, and then contracted remarkably in the following year.

In value terms, oxygen imports declined significantly to $X in 2022. In general, imports, however, showed slight growth. The pace of growth was the most pronounced in 2021 with an increase of 102% against the previous year. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

Jordan (X cubic meters) and Saudi Arabia (X cubic meters) were the key importers of oxygen in 2022, amounting to near 28% and 20% of total imports, respectively. Hong Kong SAR (X cubic meters) ranks next in terms of the total imports with a 7.5% share, followed by Bangladesh (6.1%) and Oman (5.3%). The following importers - Iraq (X cubic meters), Singapore (X cubic meters), Malaysia (X cubic meters), Palestine (X cubic meters), Cambodia (X cubic meters), Indonesia (X cubic meters), Pakistan (X cubic meters) and Lao People's Democratic Republic (X cubic meters) - together made up 23% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +37.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oxygen importing markets in Asia were Jordan ($X), Indonesia ($X) and Saudi Arabia ($X), with a combined 42% share of total imports. These countries were followed by Hong Kong SAR, Singapore, Bangladesh, Iraq, Cambodia, Palestine, Malaysia, Lao People's Democratic Republic, Oman and Pakistan, which together accounted for a further 30%.

Cambodia, with a CAGR of +31.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per cubic meter, dropping by -12.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 45% against the previous year. The level of import peaked at $X per cubic meter in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per cubic meter), while Oman ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+18.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :