Scandinavia: Oxygen Market 2022

Oxygen Market Size in Scandinavia

The Scandinavia oxygen market expanded slightly to $X in 2021, surging by 5% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Oxygen Production in Scandinavia

In value terms, oxygen production expanded modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2017 with an increase of 27%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Oxygen Exports

Exports in Scandinavia

In 2021, overseas shipments of oxygen decreased by -6.3% to X cubic meters, falling for the third consecutive year after two years of growth. Overall, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2018 when exports increased by 28% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, oxygen exports surged to $X in 2021. In general, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 44%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Sweden (X cubic meters) represented the largest exporter of oxygen, generating 77% of total exports. Finland (X cubic meters) ranks second in terms of the total exports with a 10% share, followed by Denmark (9.3%). Norway (X cubic meters) held a minor share of total exports.

Sweden was also the fastest-growing in terms of the oxygen exports, with a CAGR of +7.0% from 2012 to 2021. Denmark (-3.3%), Finland (-18.3%) and Norway (-20.3%) illustrated a downward trend over the same period. While the share of Sweden (+48 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Norway (-16.6 p.p.) and Finland (-32.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest oxygen supplier in Scandinavia, comprising 80% of total exports. The second position in the ranking was held by Denmark ($X), with a 10% share of total exports. It was followed by Norway, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden totaled +5.7%. In the other countries, the average annual rates were as follows: Denmark (-13.0% per year) and Norway (-19.0% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per cubic meter in 2021, surging by 26% against the previous year. Overall, the export price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by 29% against the previous year. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Norway ($X per cubic meter), while Finland ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+1.7%), while the other leaders experienced a decline in the export price figures.

Oxygen Imports

Imports in Scandinavia

In 2021, approx. X cubic meters of oxygen were imported in Scandinavia; jumping by 60% against the previous year. Overall, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, oxygen imports rose rapidly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Denmark represented the largest importing country with an import of around X cubic meters, which finished at 87% of total imports. It was distantly followed by Norway (X cubic meters), committing a 10% share of total imports. Sweden (X cubic meters) held a minor share of total imports.

Denmark was also the fastest-growing in terms of the oxygen imports, with a CAGR of +94.1% from 2012 to 2021. Norway (-4.7%) and Sweden (-20.7%) illustrated a downward trend over the same period. Denmark (+86 p.p.) significantly strengthened its position in terms of the total imports, while Norway and Sweden saw its share reduced by -35% and -49.2% from 2012 to 2021, respectively.

In value terms, Denmark ($X), Norway ($X) and Sweden ($X) constituted the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

Among the main importing countries, Denmark, with a CAGR of +48.0%, 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

The import price in Scandinavia stood at $X per cubic meter in 2021, shrinking by -30% against the previous year. In general, the import price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 an increase of 33%. The level of import peaked at $X per cubic meter in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Sweden ($X per cubic meter), while Denmark ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+10.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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