Hungary: Oxygen Market 2024

Oxygen Market Size in Hungary

The Hungarian oxygen market fell to $X in 2022, declining by -3.1% against the previous year. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.9% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Oxygen Production in Hungary

In value terms, oxygen production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 52% against the previous year. Oxygen production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Oxygen Exports

Exports from Hungary

In 2022, shipments abroad of oxygen decreased by -45.1% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 30%. The exports peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, oxygen exports rose to $X in 2022. Over the period under review, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X cubic meters) was the main destination for oxygen exports from Hungary, with a 69% share of total exports. Moreover, oxygen exports to Slovakia exceeded the volume sent to the second major destination, Serbia (X cubic meters), fourfold. The third position in this ranking was held by Italy (X cubic meters), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia stood at -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+19.1% per year) and Italy (+280.3% per year).

In value terms, Slovakia ($X) remains the key foreign market for oxygen exports from Hungary, comprising 49% of total exports. The second position in the ranking was taken by Italy ($X), with a 14% share of total exports. It was followed by Serbia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Slovakia totaled -10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+186.0% per year) and Serbia (+19.9% per year).

Export Prices by Country

In 2022, the average oxygen export price amounted to $X per cubic meter, rising by 91% against the previous year. In general, the export price showed strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per cubic meter), while the average price for exports to Slovenia ($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 Slovakia (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Oxygen Imports

Imports into Hungary

In 2022, imports of oxygen into Hungary declined notably to X cubic meters, waning by -40% compared with the year before. In general, imports, however, posted a mild expansion. The pace of growth was the most pronounced in 2021 when imports increased by 102%. 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 declined sharply to $X in 2022. Over the period under review, total imports indicated a perceptible expansion 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, imports increased by +39.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 85% against the previous year. As a result, imports reached the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2022, Austria (X cubic meters) constituted the largest oxygen supplier to Hungary, accounting for a 64% share of total imports. Moreover, oxygen imports from Austria exceeded the figures recorded by the second-largest supplier, Slovenia (X cubic meters), threefold. Poland (X cubic meters) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria amounted to +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+23.4% per year) and Poland (+65.8% per year).

In value terms, Austria ($X) constituted the largest supplier of oxygen to Hungary, comprising 51% of total imports. The second position in the ranking was held by Slovenia ($X), with a 24% share of total imports. It was followed by Poland, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Austria amounted to +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+24.7% per year) and Poland (+80.2% per year).

Import Prices by Country

The average oxygen import price stood at $X per cubic meter in 2022, surging by 26% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per cubic meter in 2013; however, from 2014 to 2022, 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 Italy ($X per cubic meter), while the price for Austria ($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 Croatia (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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