MERCOSUR: Oxygen Market 2024

Oxygen Market Size in MERCOSUR

The MERCOSUR oxygen market shrank modestly to $X in 2022, declining by -2.9% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +3.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Oxygen Production in MERCOSUR

In value terms, oxygen production fell to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 54%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Oxygen Exports

Exports in MERCOSUR

In 2022, shipments abroad of oxygen decreased by -58% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. In general, exports recorded a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 181% against the previous year. As a result, the exports reached the peak of X cubic meters, and then dropped sharply in the following year.

In value terms, oxygen exports declined significantly to $X in 2022. Overall, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 161% against the previous year. As a result, the exports attained the peak of $X, and then reduced remarkably in the following year.

Exports by Country

In 2022, Chile (X cubic meters), Colombia (X cubic meters), Paraguay (X cubic meters), Brazil (X cubic meters) and Peru (X cubic meters) represented the key exporter of oxygen in MERCOSUR, making up 88% of total export. It was distantly followed by Argentina (X cubic meters), constituting a 4.9% share of total exports. Uruguay (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +20.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest oxygen supplying countries in MERCOSUR were Brazil ($X), Colombia ($X) and Paraguay ($X), together accounting for 58% of total exports. These countries were followed by Chile, Peru, Argentina and Uruguay, which together accounted for a further 31%.

In terms of the main exporting countries, Uruguay, with a CAGR of +14.2%, recorded the highest growth rate of 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 export price in MERCOSUR stood at $X per cubic meter in 2022, jumping by 24% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2017 when the export price increased by 28% against the previous year. The level of export peaked at $X per cubic meter in 2018; however, from 2019 to 2022, the export prices remained at a 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 Brazil ($X per cubic meter), while Chile ($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 Brazil (+10.3%), while the other leaders experienced more modest paces of growth.

Oxygen Imports

Imports in MERCOSUR

In 2022, supplies from abroad of oxygen decreased by -40.6% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. In general, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of 81% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, oxygen imports reduced dramatically to $X in 2022. Overall, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2021 with an increase of 88% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Uruguay was the main importer of oxygen in MERCOSUR, with the volume of imports accounting for X cubic meters, which was approx. 54% of total imports in 2022. It was distantly followed by Suriname (X cubic meters), Guyana (X cubic meters) and Chile (X cubic meters), together achieving a 31% share of total imports. Argentina (X cubic meters), Brazil (X cubic meters) and Ecuador (X cubic meters) held a minor share of total imports.

Imports into Uruguay decreased at an average annual rate of -6.7% from 2012 to 2022. At the same time, Guyana (+67.2%), Suriname (+20.4%), Argentina (+8.9%) and Chile (+4.7%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +67.2% from 2012-2022. By contrast, Brazil (-10.1%) and Ecuador (-23.6%) illustrated a downward trend over the same period. Suriname (+12 p.p.), Guyana (+11 p.p.), Chile (+4.2 p.p.) and Argentina (+3 p.p.) significantly strengthened its position in terms of the total imports, while Brazil, Uruguay and Ecuador saw its share reduced by -2.2%, -9.6% and -20% from 2012 to 2022, respectively.

In value terms, Argentina ($X), Ecuador ($X) and Brazil ($X) constituted the countries with the highest levels of imports in 2022, with a combined 55% share of total imports. These countries were followed by Uruguay, Suriname, Guyana and Chile, which together accounted for a further 38%.

Guyana, with a CAGR of +68.1%, saw the highest rates of growth with regard to the value of imports, in terms of 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 MERCOSUR stood at $X per cubic meter in 2022, surging by 34% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oxygen import price increased by +78.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 58%. The level of import peaked at $X per cubic meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per cubic meter), while Uruguay ($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 Ecuador (+20.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform