China: Oxygen Market 2024

Oxygen Market Size in China

The Chinese oxygen market amounted to $X in 2022, growing by 4.1% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Oxygen Production in China

In value terms, oxygen production reached $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Oxygen Exports

Exports from China

Oxygen exports from China fell remarkably to X cubic meters in 2022, waning by -48.2% on the previous year. Over the period under review, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 74% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, oxygen exports fell markedly to $X in 2022. In general, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 79%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Japan (X cubic meters) was the main destination for oxygen exports from China, accounting for a 9% share of total exports. Moreover, oxygen exports to Japan exceeded the volume sent to the second major destination, South Korea (X cubic meters), threefold. The United States (X cubic meters) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +61.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+56.9% per year) and the United States (+57.3% per year).

In value terms, Japan ($X) remains the key foreign market for oxygen exports from China, comprising 26% of total exports. The second position in the ranking was held by the United States ($X), with a 6.7% share of total exports. It was followed by Australia, with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +82.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+67.3% per year) and Australia (+45.5% per year).

Export Prices by Country

The average oxygen export price stood at $X per cubic meter in 2022, surging by 13% against the previous year. In general, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 an increase of 57% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while the average price for exports to Singapore ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+49.7%), while the prices for the other major destinations experienced more modest paces of growth.

Oxygen Imports

Imports into China

In 2022, imports of oxygen into China dropped to X cubic meters, shrinking by -9.3% on 2021. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 7,000%. Imports peaked at X cubic meters in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, oxygen imports reduced remarkably to $X in 2022. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 407%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

In 2022, the United States (X cubic meters) constituted the largest supplier of oxygen to China, with a 72% share of total imports. Moreover, oxygen imports from the United States exceeded the figures recorded by the second-largest supplier, France (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +136.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+117.3% per year) and Germany (+47.6% per year).

In value terms, the United States ($X) constituted the largest supplier of oxygen to China, comprising 92% of total imports. The second position in the ranking was held by Germany ($X), with a 3.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +61.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.6% per year) and France (+71.6% per year).

Import Prices by Country

The average oxygen import price stood at $X per cubic meter in 2022, reducing by -19.9% against the previous year. In general, the import price, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2019 an increase of 770% against the previous year. The import price peaked at $X per cubic meter in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for France ($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 Taiwan (Chinese) (-10.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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