Romania: Oxygen Market 2024

Oxygen Market Size in Romania

In 2022, the Romanian oxygen market decreased by -9.2% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then fell in the following year.

Oxygen Production in Romania

In value terms, oxygen production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Oxygen Exports

Exports from Romania

In 2022, overseas shipments of oxygen decreased by -18% to X cubic meters for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 115% against the previous year. The exports peaked at X cubic meters in 2021, and then reduced sharply in the following year.

In value terms, oxygen exports declined to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 when exports increased by 89% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

Bulgaria (X cubic meters) was the main destination for oxygen exports from Romania, with a 88% share of total exports. Moreover, oxygen exports to Bulgaria exceeded the volume sent to the second major destination, Greece (X cubic meters), ninefold. The third position in this ranking was held by Cyprus (X cubic meters), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bulgaria totaled +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+20.3% per year) and Cyprus (-40.4% per year).

In value terms, Bulgaria ($X) remains the key foreign market for oxygen exports from Romania, comprising 77% of total exports. The second position in the ranking was taken by Greece ($X), with an 18% share of total exports. It was followed by Cyprus, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bulgaria amounted to +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+17.7% per year) and Cyprus (-3.9% per year).

Export Prices by Country

The average oxygen export price stood at $X per cubic meter in 2022, with an increase of 8.1% against the previous year. Over the period under review, the export price, however, showed a pronounced descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 22% against the previous year. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per cubic meter), while the average price for exports to Bulgaria ($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 Cyprus (+61.3%), while the prices for the other major destinations experienced mixed trend patterns.

Oxygen Imports

Imports into Romania

In 2022, purchases abroad of oxygen increased by 74% to X cubic meters, rising for the second year in a row after two years of decline. Over the period under review, imports saw a moderate increase. The pace of growth was the most pronounced in 2015 with an increase of 224% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2013; afterwards, it flattened through to 2022.

In value terms, oxygen imports plummeted to $X in 2022. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 415% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

In 2022, Bulgaria (X cubic meters) was the main supplier of oxygen to Romania, accounting for a 94% share of total imports. It was followed by Hungary (X cubic meters), with a 3% share of total imports. Germany (X cubic meters) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bulgaria totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+23.6% per year) and Germany (+47.4% per year).

In value terms, Hungary ($X), Bulgaria ($X) and Germany ($X) constituted the largest oxygen suppliers to Romania, together comprising 91% of total imports.

Among the main suppliers, Germany, with a CAGR of +34.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average oxygen import price stood at $X per cubic meter in 2022, dropping by -61.1% against the previous year. Overall, the import price, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 146%. As a result, import price reached the peak level of $X per cubic meter, and then shrank dramatically in the following year.

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 Germany ($X per cubic meter), while the price for Bulgaria ($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 Hungary (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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