Sri Lanka: Oxygen Market 2024

Oxygen Market Size in Sri Lanka

The Sri Lankan oxygen market expanded modestly to $X in 2022, surging by 4.3% against the previous year. Over the period under review, consumption saw a strong expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Oxygen Production in Sri Lanka

In value terms, oxygen production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 48% against the previous year. Oxygen production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Oxygen Exports

Exports from Sri Lanka

In 2022, after two years of growth, there was significant decline in shipments abroad of oxygen, when their volume decreased by -83.5% to X cubic meters. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 101% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, oxygen exports dropped rapidly to $X in 2022. Over the period under review, exports faced a deep slump. The pace of growth was the most pronounced in 2016 when exports increased by 92% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X cubic meters) was the main destination for oxygen exports from Sri Lanka, with a 98% share of total exports. It was followed by India (X cubic meters), with a 1.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives amounted to -9.6%.

In value terms, Maldives ($X) remains the key foreign market for oxygen exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was held by India ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Maldives stood at -10.6%.

Export Prices by Country

The average oxygen export price stood at $X per cubic meter in 2022, waning by -35.9% against the previous year. Over the period under review, the export price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2014 when the average export price increased by 53%. The export price peaked at $X per cubic meter in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per cubic meter), while the average price for exports to India stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+28.7%), while the prices for the other major destinations experienced mixed trend patterns.

Oxygen Imports

Imports into Sri Lanka

In 2022, supplies from abroad of oxygen decreased by -42.7% to X cubic meters, falling for the fifth consecutive year after two years of growth. In general, imports showed a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 300% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, oxygen imports reduced rapidly to $X in 2022. Overall, imports saw a deep reduction. The growth pace was the most rapid in 2017 when imports increased by 168%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X cubic meters), the United States (X cubic meters) and Singapore (X cubic meters) were the main suppliers of oxygen imports to Sri Lanka, together comprising 99.9% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +20.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest oxygen suppliers to Sri Lanka were Germany ($X), the United States ($X) and Singapore ($X), together accounting for 99.9% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +20.7%, saw the highest rates of growth with regard to 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, jumping by 30% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 +66.3% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 42% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2017 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per cubic meter), while the price for Singapore ($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 the United States (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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