Latin America and the Caribbean: Oxygen Market 2024

Oxygen Market Size in Latin America and the Caribbean

The Latin American oxygen market shrank to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated notable growth 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 increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Oxygen Production in Latin America and the Caribbean

In value terms, oxygen production dropped slightly to $X in 2022 estimated in export price. The total production indicated a noticeable 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 increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

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Oxygen Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of oxygen decreased by X% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X cubic meters, and then shrank significantly in the following year.

In value terms, oxygen exports declined markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

Trinidad and Tobago (X cubic meters) and Guatemala (X cubic meters) represented roughly X% of total exports in 2022. Costa Rica (X cubic meters) ranks next in terms of the total exports with a X% share, followed by Chile (X%). Paraguay (X cubic meters), Colombia (X cubic meters), Panama (X cubic meters), Brazil (X cubic meters) and Ecuador (X cubic meters) followed a long way behind the leaders.

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

In value terms, the largest oxygen supplying countries in Latin America and the Caribbean were Guatemala ($X), Trinidad and Tobago ($X) and Costa Rica ($X), together comprising X% of total exports. Brazil, Ecuador, Panama, Paraguay, Chile and Colombia lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per cubic meter in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

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

Oxygen Imports

Imports in Latin America and the Caribbean

In 2022, after three years of growth, there was significant decline in purchases abroad of oxygen, when their volume decreased by X% to X cubic meters. In general, imports, however, saw notable growth. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. The volume of import peaked at X cubic meters in 2021, and then shrank rapidly in the following year.

In value terms, oxygen imports fell notably to $X in 2022. Over the period under review, imports, however, showed pronounced growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2022, the Dominican Republic (X cubic meters), distantly followed by Honduras (X cubic meters), Bolivia (X cubic meters), Nicaragua (X cubic meters), Mexico (X cubic meters), Uruguay (X cubic meters), Suriname (X cubic meters) and Jamaica (X cubic meters) represented the largest importers of oxygen, together making up X% of total imports. Argentina (X cubic meters), Panama (X cubic meters), Guyana (X cubic meters) and Belize (X cubic meters) took a minor share of total imports.

Imports into the Dominican Republic increased at an average annual rate of X% from 2012 to 2022. At the same time, Panama (X%), Guyana (X%), Bolivia (X%), Suriname (X%), Honduras (X%), Nicaragua (X%), Jamaica (X%) and Belize (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Argentina (X%), Mexico (X%) and Uruguay (X%) illustrated a downward trend over the same period. While the share of Bolivia (X p.p.), the Dominican Republic (X p.p.), Honduras (X p.p.), Suriname (X p.p.), Panama (X p.p.), Nicaragua (X p.p.), Guyana (X p.p.) and Jamaica (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (X p.p.), Mexico (X p.p.) and Uruguay (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X) constitutes the largest market for imported oxygen in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Nicaragua ($X), with a X% share of total imports. It was followed by Honduras, with a X% share.

In the Dominican Republic, oxygen imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nicaragua (X% per year) and Honduras (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per cubic meter, increasing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per cubic meter. From 2015 to 2022, the import prices remained at a 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 Nicaragua ($X per cubic meter), while Belize ($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 Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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