Hong Kong SAR, China: Oxygen Market 2024

Oxygen Market Size in Hong Kong SAR, China

After two years of growth, the Hong Kong oxygen market decreased by X% to $X in 2022. Overall, consumption, however, continues to indicate notable growth. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Oxygen Exports

Exports from Hong Kong SAR, China

In 2022, the amount of oxygen exported from Hong Kong SAR skyrocketed to X cubic meters, picking up by X% against the previous year's figure. In general, exports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, oxygen exports surged to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China (X cubic meters) was the main destination for oxygen exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, oxygen exports to China exceeded the volume sent to the second major destination, Vietnam (X cubic meters), twofold. Germany (X cubic meters) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Germany (X% per year).

In value terms, China ($X) emerged as the key foreign market for oxygen exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Germany (X% per year).

Export Prices by Country

The average oxygen export price stood at $X per cubic meter in 2022, picking up by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Vietnam ($X per cubic meter) and the Philippines ($X per cubic meter), while the average price for exports to China ($X per cubic meter) and Turkey ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oxygen Imports

Imports into Hong Kong SAR, China

In 2022, imports of oxygen into Hong Kong SAR contracted modestly to X cubic meters, declining by X% compared with the year before. In general, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at X cubic meters in 2021, and then contracted in the following year.

In value terms, oxygen imports surged to $X in 2022. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X cubic meters), Singapore (X cubic meters) and the United States (X cubic meters) were the main suppliers of oxygen imports to Hong Kong SAR, together accounting for X% 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 United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oxygen suppliers to Hong Kong SAR were China ($X), Singapore ($X) and the United States ($X), together comprising X% of total imports.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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, surging by X% against the previous year. In general, the import price, however, saw a mild decrease. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per cubic meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per cubic meter) and Denmark ($X per cubic meter), while the price for Singapore ($X per cubic meter) and China ($X per cubic meter) were amongst the lowest.

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

Source: IndexBox Platform

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