Report Update: Apr 1, 2024

Republic of Korea - Oxygen - Market Analysis, Forecast, Size, Trends And Insights

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Oxygen Price in South Korea - 2022

Oxygen Price in South Korea (CIF) - 2022

In 2022, the average oxygen import price amounted to $2.7 per cubic meter, increasing by 8.7% against the previous year. Overall, the import price, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2019 an increase of 106% against the previous year. The import price peaked at $12 per cubic meter in 2015; however, from 2016 to 2022, import prices stood at a somewhat 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 the United States ($7.6 per cubic meter), while the price for China ($1.8 per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+61.6%), while the prices for the other major suppliers experienced a decline.

Oxygen Price in South Korea (FOB) - 2022

In 2022, the average oxygen export price amounted to $8.3 per cubic meter, with an increase of 12% against the previous year. In general, the export price saw a strong expansion. The pace of growth was the most pronounced in 2018 an increase of 71% against the previous year. As a result, the export price attained the peak level of $9.3 per cubic meter. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($13 per cubic meter), while the average price for exports to the United States ($2 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 Angola (+163.1%), while the prices for the other major destinations experienced more modest paces of growth.

Oxygen Imports in South Korea

In 2022, oxygen imports into South Korea surged to 138K cubic meters, with an increase of 28% compared with the previous year. Overall, imports saw a relatively flat trend pattern. Imports peaked at 140K cubic meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, oxygen imports skyrocketed to $369K in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 68% against the previous year. As a result, imports reached the peak of $474K. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Oxygen in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	164	207	184	202	7.2%
United States	72.4	104	19.3	70.1	-1.1%
Spain	11.7	94.5	3.7	39.4	49.9%
Others	34.0	69.2	58.1	57.4	19.1%
Total	282	474	265	369	9.4%

Top Suppliers of Oxygen to South Korea in 2022:

China (114.1K cubic meters)
Spain (13.2K cubic meters)
United States (9.2K cubic meters)

Oxygen Exports in South Korea

In 2022, shipments abroad of oxygen decreased by -12.2% to 7.9K cubic meters for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.7% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by 19%. As a result, the exports reached the peak of 9K cubic meters, and then dropped in the following year.

In value terms, oxygen exports declined to $65K in 2022. Over the period under review, exports, however, saw a mild expansion. The pace of growth was the most pronounced in 2021 with an increase of 3%. As a result, the exports attained the peak of $66K, and then reduced in the following year.

Export of Oxygen in South Korea (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	53.8	0.3	15.2	48.6	-3.3%
Vietnam	2.7	4.1	11.2	11.1	60.2%
Japan	0.5	2.7	0.4	4.2	103.3%
United States	0.6	0.5	0.9	1.4	32.6%
Russia	N/A	49.9	1.1	N/A	-97.8%
Uzbekistan	N/A	N/A	3.6	N/A	0%
India	N/A	N/A	23.8	N/A	0%
United Arab Emirates	N/A	N/A	6.6	N/A	0%
Others	5.9	6.9	3.4	N/A	-24.1%
Total	63.4	64.4	66.3	65.3	1.0%

Top Export Markets for Oxygen from South Korea in 2022:

China (3.7K cubic meters)
Vietnam (2.8K cubic meters)
United States (0.7K cubic meters)
Japan (0.6K cubic meters)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the oxygen market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20111170 - Oxygen

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023