Eastern Asia: Oxygen Market 2024

Oxygen Market Size in Eastern Asia

The East Asian oxygen market rose to $X in 2022, picking up by 3.2% against the previous year. In general, consumption saw modest growth. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Oxygen Production in Eastern Asia

In value terms, oxygen production stood at $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 16%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Oxygen Exports

Exports in Eastern Asia

In 2022, exports of oxygen in Eastern Asia shrank to X cubic meters, which is down by -11% on the previous year's figure. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2016 when exports increased by 109% against the previous year. The volume of export peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, oxygen exports dropped remarkably to $X in 2022. In general, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 95%. As a result, the exports reached the peak of $X, and then fell significantly in the following year.

Exports by Country

Hong Kong SAR represented the major exporting country with an export of about X cubic meters, which amounted to 62% of total exports. It was distantly followed by China (X cubic meters), generating a 32% share of total exports. Taiwan (Chinese) (X cubic meters) and Japan (X cubic meters) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Japan (with a CAGR of +29.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest oxygen supplier in Eastern Asia, comprising 52% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 22% share of total exports. It was followed by Japan, with a 21% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +15.5%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+25.8% per year) and Japan (+2.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per cubic meter in 2022, declining by -11.2% against the previous year. Overall, the export price showed a pronounced descent. The growth pace was the most rapid in 2020 an increase of 100% against the previous year. The level of export peaked 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per cubic meter), while Hong Kong SAR ($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 mixed trends in the export price figures.

Oxygen Imports

Imports in Eastern Asia

In 2022, approx. X cubic meters of oxygen were imported in Eastern Asia; which is down by -6.9% against 2021 figures. Over the period under review, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 152% against the previous year. Over the period under review, imports attained the maximum at X cubic meters in 2021, and then dropped in the following year.

In value terms, oxygen imports fell sharply to $X in 2022. Overall, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Hong Kong SAR represented the key importer of oxygen in Eastern Asia, with the volume of imports recording X cubic meters, which was near 75% of total imports in 2022. Macao SAR (X cubic meters) ranks second in terms of the total imports with a 13% share, followed by China (6.3%). Taiwan (Chinese) (X cubic meters) followed a long way behind the leaders.

Imports into Hong Kong SAR increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, China (+28.6%) and Taiwan (Chinese) (+18.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +28.6% from 2012-2022. By contrast, Macao SAR (-1.1%) illustrated a downward trend over the same period. Hong Kong SAR (+13 p.p.), China (+5.1 p.p.) and Taiwan (Chinese) (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Macao SAR saw its share reduced by -20.8% from 2012 to 2022, respectively.

In value terms, the largest oxygen importing markets in Eastern Asia were Hong Kong SAR ($X), China ($X) and Macao SAR ($X), together comprising 76% of total imports.

China, with a CAGR of +33.6%, 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

The import price in Eastern Asia stood at $X per cubic meter in 2022, declining by -17.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 64%. As a result, import price attained the peak level of $X per cubic meter. From 2014 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per cubic meter), while Hong Kong SAR ($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 Macao SAR (+14.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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