Iran: Oxygen Market 2024

Oxygen Market Size in Iran

The Iranian oxygen market declined modestly to $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Oxygen Production in Iran

In value terms, oxygen production dropped slightly to $X in 2022 estimated in export price. Overall, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 -1.9% against 2019 indices. The pace of growth was the most pronounced in 2015 with an increase of 49% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Oxygen Exports

Exports from Iran

In 2022, shipments abroad of oxygen was finally on the rise to reach X cubic meters for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 947% against the previous year. The exports peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, oxygen exports rose rapidly to $X in 2022. Overall, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 70%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Azerbaijan (X cubic meters) was the main destination for oxygen exports from Iran, accounting for a 91% share of total exports. Moreover, oxygen exports to Azerbaijan exceeded the volume sent to the second major destination, Afghanistan (X cubic meters), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Azerbaijan totaled -11.9%.

In value terms, Azerbaijan ($X) remains the key foreign market for oxygen exports from Iran, comprising 95% of total exports. The second position in the ranking was taken by Afghanistan ($X), with a 4.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Azerbaijan stood at -16.0%.

Export Prices by Country

In 2022, the average oxygen export price amounted to $X per cubic meter, leveling off at the previous year. Overall, the export price recorded a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the average export price increased by 1,513% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2016 to 2022, the average export prices failed to regain momentum.

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 Azerbaijan ($X per cubic meter), while the average price for exports to Afghanistan amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+26.8%), while the prices for the other major destinations experienced mixed trend patterns.

Oxygen Imports

Imports into Iran

In 2022, after two years of growth, there was significant decline in overseas purchases of oxygen, when their volume decreased by -25.4% to X cubic meters. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2020 when imports increased by 359% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, oxygen imports reduced rapidly to $X in 2022. Overall, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 400%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X cubic meters), the United Arab Emirates (X cubic meters) and Austria (X cubic meters) were the main suppliers of oxygen imports to Iran, together accounting for 75% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +43.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the largest oxygen suppliers to Iran, with a combined 78% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +56.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average oxygen import price stood at $X per cubic meter in 2022, waning by -15.6% against the previous year. In general, the import price, however, posted resilient growth. The pace of growth was the most pronounced in 2015 when the average import price increased by 142%. The import price peaked at $X per cubic meter in 2021, and then reduced rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per cubic meter), while the price for the United Arab Emirates ($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 (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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