ECOWAS: Oxygen Market 2024

Oxygen Market Size in ECOWAS

The ECOWAS oxygen market reached $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Oxygen Production in ECOWAS

In value terms, oxygen production reached $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Oxygen Exports

Exports in ECOWAS

After six years of growth, shipments abroad of oxygen decreased by X% to X cubic meters in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X cubic meters in 2021, and then declined rapidly in the following year.

In value terms, oxygen exports shrank sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X cubic meters, which was approx. X% of total exports in 2022. Togo (X cubic meters) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%). Ghana (X cubic meters) followed a long way behind the leaders.

Cote d'Ivoire was also the fastest-growing in terms of the oxygen exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%), Togo (X%) and Ghana (X%) displayed positive paces of growth. While the share of Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (X p.p.), Ghana (X p.p.) and Togo (X p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) remains the largest oxygen supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

In Cote d'Ivoire, oxygen exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per cubic meter in 2022, with a decrease of X% against the previous year. In general, the export price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per cubic meter in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per cubic meter), while Cote d'Ivoire ($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 Togo (X%), while the other leaders experienced mixed trends in the export price figures.

Oxygen Imports

Imports in ECOWAS

After four years of growth, supplies from abroad of oxygen decreased by X% to X cubic meters in 2022. Overall, imports, however, continue to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked at X cubic meters in 2021, and then declined remarkably in the following year.

In value terms, oxygen imports reduced slightly to $X in 2022. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then shrank modestly in the following year.

Imports by Country

In 2022, Ghana (X cubic meters), distantly followed by Senegal (X cubic meters), Mali (X cubic meters) and Cote d'Ivoire (X cubic meters) represented the largest importers of oxygen, together comprising X% of total imports. Benin (X cubic meters), Cabo Verde (X cubic meters) and Togo (X cubic meters) followed a long way behind the leaders.

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

In value terms, Senegal ($X) constitutes the largest market for imported oxygen in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Mali, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Senegal totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Mali (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per cubic meter in 2022, growing by X% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked at $X per cubic meter in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Senegal ($X per cubic meter), while Ghana ($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 Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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