Southern Asia: Oxygen Market 2024

Oxygen Market Size in Southern Asia

The South Asian oxygen market amounted to $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Oxygen Production in Southern Asia

In value terms, oxygen production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Oxygen Exports

Exports in Southern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of oxygen, when their volume decreased by -66% to X cubic meters. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 146% against the previous year. As a result, the exports reached the peak of X cubic meters, and then dropped dramatically in the following year.

In value terms, oxygen exports reduced notably to $X in 2022. Overall, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 181%. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

India prevails in exports structure, accounting for X cubic meters, which was near 96% of total exports in 2022. Nepal (X cubic meters) held a relatively small share of total exports.

Exports from India increased at an average annual rate of +14.7% from 2012 to 2022. At the same time, Nepal (+61.4%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +61.4% from 2012-2022. India (+13 p.p.) and Nepal (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest oxygen supplier in Southern Asia, comprising 92% of total exports. The second position in the ranking was held by Nepal ($X), with a 5.3% share of total exports.

In India, oxygen exports expanded at an average annual rate of +13.4% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per cubic meter in 2022, standing approx. at the previous year. Over the period under review, the export price, however, saw a mild shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 37%. As a result, the export price reached the peak level of $X per cubic meter. From 2019 to 2022, the export prices failed to regain momentum.

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 Nepal ($X per cubic meter), while India totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+11.9%).

Oxygen Imports

Imports in Southern Asia

After two years of growth, purchases abroad of oxygen decreased by -34% to X cubic meters in 2022. Overall, imports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 148% against the previous year. As a result, imports attained the peak of X cubic meters, and then declined markedly in the following year.

In value terms, oxygen imports declined notably to $X in 2022. Over the period under review, imports, however, saw a noticeable increase. The pace of growth appeared the most rapid in 2021 with an increase of 429%. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

Bangladesh was the major importing country with an import of around X cubic meters, which amounted to 64% of total imports. Pakistan (X cubic meters) took the second position in the ranking, distantly followed by Nepal (X cubic meters). All these countries together took near 32% share of total imports. Sri Lanka (X cubic meters) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to oxygen imports into Bangladesh stood at +23.4%. At the same time, Nepal (+28.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +28.1% from 2012-2022. By contrast, Pakistan (-14.8%) and Sri Lanka (-17.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh and Nepal increased by +59 and +7.3 percentage points, respectively.

In value terms, Bangladesh ($X) constitutes the largest market for imported oxygen in Southern Asia, comprising 50% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 20% share of total imports. It was followed by Nepal, with a 7.3% share.

In Bangladesh, oxygen imports expanded at an average annual rate of +23.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (-4.4% per year) and Nepal (+14.3% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per cubic meter in 2022, shrinking by -49.8% against the previous year. Over the period under review, the import price, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 when the import price increased by 114%. As a result, import price attained the peak level of $X per cubic meter, and then reduced sharply in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Sri Lanka ($X per cubic meter) and Nepal ($X per cubic meter), while Bangladesh ($X per cubic meter) and Pakistan ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+12.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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