Middle East: Oxygen Market 2024

Oxygen Market Size in the Middle East

The Middle Eastern oxygen market shrank to $X in 2022, falling by -5.6% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +6.2% against 2020 indices. 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 the Middle East

In value terms, oxygen production contracted to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +6.4% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 58% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Oxygen Exports

Exports in the Middle East

In 2022, the amount of oxygen exported in the Middle East stood at X cubic meters, picking up by 1.6% against the previous year. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 86%. The volume of export peaked at X cubic meters in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, oxygen exports contracted to $X in 2022. Total exports indicated a temperate 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, exports increased by +6.8% against 2014 indices. The growth pace was the most rapid in 2014 when exports increased by 79%. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Kuwait (X cubic meters) was the major exporter of oxygen, making up 70% of total exports. It was distantly followed by Turkey (X cubic meters), Syrian Arab Republic (X cubic meters) and Saudi Arabia (X cubic meters), together comprising a 27% share of total exports.

Exports from Kuwait increased at an average annual rate of +8.7% from 2012 to 2022. At the same time, Turkey (+21.2%), Saudi Arabia (+13.2%) and Syrian Arab Republic (+5.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +21.2% from 2012-2022. Turkey (+11 p.p.), Kuwait (+4.9 p.p.) and Saudi Arabia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Syrian Arab Republic saw its share reduced by -1.7% from 2012 to 2022, respectively.

In value terms, the largest oxygen supplying countries in the Middle East were Kuwait ($X), Turkey ($X) and Syrian Arab Republic ($X), together accounting for 84% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +18.0%, 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 export price in the Middle East stood at $X per cubic meter in 2022, falling by -8.4% against the previous year. Over the period under review, the export price recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 when the export price increased by 23% against the previous year. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while Kuwait ($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 Saudi Arabia (+2.4%), while the other leaders experienced a decline in the export price figures.

Oxygen Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in overseas purchases of oxygen, when their volume decreased by -20.7% to X cubic meters. In general, imports, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 85% against the previous year. The volume of import peaked at X cubic meters in 2021, and then contracted notably in the following year.

In value terms, oxygen imports declined significantly to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +9.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 58%. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

Jordan (X cubic meters) and Saudi Arabia (X cubic meters) prevails in imports structure, together generating 76% of total imports. It was distantly followed by Oman (X cubic meters), Iraq (X cubic meters) and Palestine (X cubic meters), together generating a 20% share of total imports. Lebanon (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lebanon (with a CAGR of +27.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X) constitutes the largest market for imported oxygen in the Middle East, comprising 53% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 20% share of total imports. It was followed by Iraq, with a 7.8% share.

In Jordan, oxygen imports expanded at an average annual rate of +10.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-2.3% per year) and Iraq (+21.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per cubic meter, waning by -12.2% against the previous year. In general, the import price showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 when the import price increased by 31%. The level of import peaked at $X per cubic meter in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lebanon ($X per cubic meter), while Oman ($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 Iraq (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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