Turkey: Oxygen Market 2024

Oxygen Market Size in Turkey

The Turkish oxygen market declined notably to $X in 2022, reducing by -16.1% against the previous year. In general, consumption, however, recorded strong growth. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Oxygen Production in Turkey

In value terms, oxygen production declined remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 70% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Oxygen Exports

Exports from Turkey

After two years of growth, overseas shipments of oxygen decreased by -43.8% to X cubic meters in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 384% against the previous year. As a result, the exports reached the peak of X cubic meters, and then contracted rapidly in the following year.

In value terms, oxygen exports contracted dramatically to $X in 2022. Overall, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 427%. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Greece (X cubic meters) was the main destination for oxygen exports from Turkey, with a 56% share of total exports. Moreover, oxygen exports to Greece exceeded the volume sent to the second major destination, Iraq (X cubic meters), threefold. Georgia (X cubic meters) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to +264.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+12.6% per year) and Georgia (+34.7% per year).

In value terms, Greece ($X) emerged as the key foreign market for oxygen exports from Turkey, comprising 63% of total exports. The second position in the ranking was held by Georgia ($X), with a 15% share of total exports. It was followed by Iraq, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Greece stood at +245.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+34.4% per year) and Iraq (+8.7% per year).

Export Prices by Country

In 2022, the average oxygen export price amounted to $X per cubic meter, approximately equating the previous year. In general, the export price recorded a perceptible slump. The pace of growth was the most pronounced in 2018 when the average export price increased by 35%. 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 external markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per cubic meter), while the average price for exports to Iraq ($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 Lebanon (+1.6%), while the prices for the other major destinations experienced a decline.

Oxygen Imports

Imports into Turkey

In 2022, purchases abroad of oxygen increased by 9.9% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 90% against the previous year. As a result, imports reached the peak of X cubic meters. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, oxygen imports soared to $X in 2022. Over the period under review, imports showed resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 89%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X cubic meters), Germany (X cubic meters) and the Netherlands (X cubic meters) were the main suppliers of oxygen imports to Turkey, together accounting for 64% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +160.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oxygen suppliers to Turkey were the United States ($X), Germany ($X) and Belgium ($X), with a combined 69% share of total imports. These countries were followed by the United Arab Emirates, Italy, the Netherlands and China, which together accounted for a further 30%.

The Netherlands, with a CAGR of +124.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average oxygen import price amounted to $X per cubic meter, increasing by 8% against the previous year. Overall, import price indicated slight growth 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 +53.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 60% against the previous year. Over the period under review, average import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Belgium ($X per cubic meter), while the price for the Netherlands ($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 Arab Emirates (+91.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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