Benelux: Oxygen Market 2024

Oxygen Market Size in Benelux

After two years of growth, the Benelux oxygen market decreased by -24.9% to $X in 2022. Over the period under review, consumption, however, showed a resilient increase. As a result, consumption attained the peak level of $X, and then fell notably in the following year.

Oxygen Production in Benelux

In value terms, oxygen production reduced to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +74.0% against 2014 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2021, and then fell in the following year.

Oxygen Exports

Exports in Benelux

In 2022, approx. X cubic meters of oxygen were exported in Benelux; with a decrease of -4.9% on 2021 figures. Over the period under review, exports, however, recorded noticeable growth. The growth pace was the most rapid in 2017 with an increase of 110%. Over the period under review, the exports reached the peak figure at X cubic meters in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, oxygen exports surged to $X in 2022. In general, exports, however, recorded a mild expansion. The pace of growth was the most pronounced in 2021 when exports increased by 48%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Belgium was the largest exporting country with an export of about X cubic meters, which recorded 87% of total exports. It was distantly followed by the Netherlands (X cubic meters), comprising a 13% share of total exports.

Belgium was also the fastest-growing in terms of the oxygen exports, with a CAGR of +9.0% from 2012 to 2022. The Netherlands (-8.6%) illustrated a downward trend over the same period. While the share of Belgium (+33 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Netherlands (-33.1 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) remains the largest oxygen supplier in Benelux, comprising 88% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total exports.

In Belgium, oxygen exports expanded at an average annual rate of +4.8% over the period from 2012-2022.

Export Prices by Country

The export price in Benelux stood at $X per cubic meter in 2022, growing by 52% against the previous year. Over the period under review, the export price, however, continues to indicate a slight reduction. The level of export peaked at $X per cubic meter in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per cubic meter), while the Netherlands totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.7%).

Oxygen Imports

Imports in Benelux

In 2022, purchases abroad of oxygen increased by 5.9% to X cubic meters, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, oxygen imports expanded remarkably to $X in 2022. Overall, imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 38% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X cubic meters) and Luxembourg (X cubic meters) prevails in imports structure, together generating 97% of total imports. Belgium (X cubic meters) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of +2.0%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the Netherlands ($X) constitutes the largest market for imported oxygen in Benelux, comprising 73% of total imports. The second position in the ranking was held by Luxembourg ($X), with a 22% share of total imports.

In the Netherlands, oxygen imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Luxembourg (-0.1% per year) and Belgium (-19.8% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per cubic meter, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2013 an increase of 32% against the previous year. The level of import peaked at $X per cubic meter in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($X per cubic meter), while Luxembourg ($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 the Netherlands (+6.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform