Italy: Oxygen Market 2024

Oxygen Market Size in Italy

The Italian oxygen market contracted to $X in 2022, shrinking by -10.3% against the previous year. In general, consumption continues to indicate a noticeable shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Oxygen Production in Italy

In value terms, oxygen production declined to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 when the production volume increased by 35%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Oxygen Exports

Exports from Italy

After two years of growth, overseas shipments of oxygen decreased by -37.7% to X cubic meters in 2022. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 33%. As a result, the exports attained the peak of X cubic meters. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, oxygen exports declined notably to $X in 2022. Overall, exports, however, continue to indicate a pronounced increase. The pace of growth was the most pronounced in 2021 when exports increased by 60% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

France (X cubic meters) was the main destination for oxygen exports from Italy, accounting for a 56% share of total exports. Moreover, oxygen exports to France exceeded the volume sent to the second major destination, Slovenia (X cubic meters), fivefold. Austria (X cubic meters) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to France totaled -11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+3.7% per year) and Austria (+7.3% per year).

In value terms, the largest markets for oxygen exported from Italy were Slovenia ($X), France ($X) and Austria ($X), together comprising 49% of total exports. Switzerland, Albania, Greece, Croatia, Spain, Hungary and the Czech Republic lagged somewhat behind, together accounting for a further 20%.

Among the main countries of destination, Albania, with a CAGR of +165.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average oxygen export price stood at $X per cubic meter in 2022, reducing by -7.2% against the previous year. In general, the export price, however, enjoyed a prominent increase. The growth pace was the most rapid in 2019 an increase of 50%. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per cubic meter), while the average price for exports to France ($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 Hungary (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Oxygen Imports

Imports into Italy

In 2022, approx. X cubic meters of oxygen were imported into Italy; with an increase of 43% on 2021 figures. Over the period under review, imports, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of 417% against the previous year. Over the period under review, imports reached the maximum at X cubic meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, oxygen imports surged to $X in 2022. In general, imports enjoyed a moderate expansion. The growth pace was the most rapid in 2021 when imports increased by 142%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

Slovenia (X cubic meters), Hungary (X cubic meters) and the Czech Republic (X cubic meters) were the main suppliers of oxygen imports to Italy, with a combined 82% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +349.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Slovenia ($X) and Germany ($X) constituted the largest oxygen suppliers to Italy, with a combined 39% share of total imports.

Hungary, with a CAGR of +186.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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, leveling off at the previous year. Overall, the import price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 an increase of 138%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Switzerland ($X per cubic meter), while the price for Slovenia ($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 Switzerland (+23.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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