South-Eastern Asia: Oxygen Market 2024

Oxygen Market Size in South-Eastern Asia

The Southeast Asian oxygen market declined modestly to $X in 2022, which is down by -2.1% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +2.3% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Oxygen Production in South-Eastern Asia

In value terms, oxygen production dropped to $X in 2022 estimated in export price. The total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +3.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 55%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Oxygen Exports

Exports in South-Eastern Asia

After two years of growth, shipments abroad of oxygen decreased by -52.6% to X cubic meters in 2022. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 78%. The volume of export peaked at X cubic meters in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, oxygen exports declined significantly to $X in 2022. Over the period under review, exports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2021 when exports increased by 100% against the previous year. As a result, the exports reached the peak of $X, and then contracted dramatically in the following year.

Exports by Country

Singapore represented the key exporting country with an export of about X cubic meters, which accounted for 60% of total exports. Malaysia (X cubic meters) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (10%). Vietnam (X cubic meters) and Indonesia (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to oxygen exports from Singapore stood at -10.8%. At the same time, Indonesia (+14.1%), Thailand (+9.6%), Vietnam (+6.9%) and Malaysia (+3.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +14.1% from 2012-2022. While the share of Malaysia (+16 p.p.), Thailand (+8.2 p.p.), Vietnam (+2 p.p.) and Indonesia (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-28.3 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest oxygen supplier in South-Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total exports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled -5.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+6.4% per year) and Thailand (+6.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per cubic meter in 2022, growing by 25% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oxygen export price increased by +61.7% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per cubic meter), while Malaysia ($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 Singapore (+5.7%), while the other leaders experienced mixed trends in the export price figures.

Oxygen Imports

Imports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in supplies from abroad of oxygen, when their volume decreased by -42% to X cubic meters. Overall, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 82%. Over the period under review, imports attained the peak figure at X cubic meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, oxygen imports dropped markedly to $X in 2022. In general, imports saw a perceptible contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 163% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X cubic meters), Malaysia (X cubic meters), Cambodia (X cubic meters), Indonesia (X cubic meters) and Lao People's Democratic Republic (X cubic meters) represented the largest importer of oxygen in South-Eastern Asia, creating 80% of total import. It was distantly followed by Brunei Darussalam (X cubic meters), Thailand (X cubic meters) and Vietnam (X cubic meters), together achieving an 18% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +37.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constitutes the largest market for imported oxygen in South-Eastern Asia, comprising 43% of total imports. The second position in the ranking was taken by Singapore ($X), with an 18% share of total imports. It was followed by Cambodia, with an 11% share.

In Indonesia, oxygen imports plunged by an average annual rate of -5.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+0.2% per year) and Cambodia (+31.7% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per cubic meter in 2022, jumping by 30% against the previous year. Overall, the import price recorded a buoyant increase. The growth pace was the most rapid in 2017 when the import price increased by 158% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per cubic meter), while Malaysia ($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 Indonesia (+18.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :