Colombia: Oxygen Market 2024

Oxygen Market Size in Colombia

The Colombian oxygen market shrank to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Oxygen Production in Colombia

In value terms, oxygen production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 12%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Oxygen Exports

Exports from Colombia

In 2022, exports of oxygen from Colombia rose slightly to X cubic meters, increasing by 1.9% on the previous year's figure. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 177% against the previous year. The exports peaked at X cubic meters in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, oxygen exports fell to $X in 2022. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 151% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X cubic meters), Venezuela (X cubic meters) and Honduras (X cubic meters) were the main destinations of oxygen exports from Colombia, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +107.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Venezuela ($X) and Honduras ($X) constituted the largest markets for oxygen exported from Colombia worldwide, with a combined 69% share of total exports.

Honduras, with a CAGR of +117.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average oxygen export price amounted to $X per cubic meter, waning by -6.9% against the previous year. Over the period under review, the export price saw a noticeable descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by 18%. Over the period under review, the average export prices attained the maximum at $X per cubic meter in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Curacao ($X per cubic meter), while the average price for exports to Venezuela ($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 Honduras (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Oxygen Imports

Imports into Colombia

For the third consecutive year, Colombia recorded growth in purchases abroad of oxygen, which increased by 56% to X cubic meters in 2022. Over the period under review, imports, however, faced a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 110%. Imports peaked at X cubic meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, oxygen imports soared to $X in 2022. Overall, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2014 when imports increased by 65% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ecuador (X cubic meters) constituted the largest oxygen supplier to Colombia, accounting for a 82% share of total imports. Moreover, oxygen imports from Ecuador exceeded the figures recorded by the second-largest supplier, the United States (X cubic meters), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Ecuador stood at +84.5%.

In value terms, the largest oxygen suppliers to Colombia were Ecuador ($X) and the United States ($X).

Ecuador, with a CAGR of +84.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average oxygen import price amounted to $X per cubic meter, with a decrease of -21.9% against the previous year. Over the period under review, the import price, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 198%. As a result, import price attained the peak level of $X per cubic meter. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Ecuador totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Venezuela (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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