GCC: Oxygen Market 2024

Oxygen Market Size in GCC

The GCC oxygen market dropped to $X in 2022, which is down by X% 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. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Oxygen Production in GCC

In value terms, oxygen production expanded modestly to $X in 2022 estimated in export price. The total production indicated a resilient 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 growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Oxygen Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in overseas shipments of oxygen, which increased by X% to X cubic meters in 2022. Overall, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, oxygen exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Kuwait (X cubic meters) was the largest exporter of oxygen, comprising X% of total exports. The United Arab Emirates (X cubic meters) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%).

Kuwait was also the fastest-growing in terms of the oxygen exports, with a CAGR of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. While the share of Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Kuwait ($X) remains the largest oxygen supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kuwait stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per cubic meter in 2022, which is down by X% against the previous year. In general, the export price showed a abrupt downturn. The pace of growth was the most pronounced in 2021 an increase of X%. The level of export peaked at $X per cubic meter in 2012; however, from 2013 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 the United Arab Emirates ($X per cubic meter), while Saudi Arabia ($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 (X%), while the other leaders experienced a decline in the export price figures.

Oxygen Imports

Imports in GCC

In 2022, approx. X cubic meters of oxygen were imported in GCC; jumping by X% compared with the previous year's figure. Over the period under review, imports continue to indicate a modest increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, oxygen imports soared to $X in 2022. In general, imports, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the key importer of oxygen in GCC, with the volume of imports amounting to X cubic meters, which was near X% of total imports in 2022. Oman (X cubic meters) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%).

From 2012 to 2022, average annual rates of growth with regard to oxygen imports into Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%) and Oman (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. While the share of Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per cubic meter, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2015 when the import price increased by X%. As a result, import price attained the peak level of $X per cubic meter. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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 Oman ($X per cubic meter), while Saudi Arabia ($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 Oman (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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