Oxygen Prices

Oxygen Prices September 2024

The oxygen prices in China for Q3 2024 reached 320 USD/MT in September. The region faced a significant decline due to lowered need from the chemical and construction sectors. The ongoing downturn in real estate landscape further weakened market conditions, while disruptions from weather events and global shipping complications elevated production and transportation costs. These factors led to a consistent downward pricing trend throughout the quarter.

Oxygen Prices December 2023

The United States oxygen price for Q4 2023 in December was 229 USD/MT.

The price of oxygen in China in Q4 2023 was 348 USD/MT.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the oxygen price trend.  

Global Oxygen Price

The report offers a holistic view of the global oxygen pricing trends in the form of oxygen price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of oxygen, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed oxygen demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Oxygen Price

Q3 2024:

Throughout Q3 2024, oxygen prices in Europe experienced moderate fluctuations due to various economic and logistical pressures. Geopolitical tensions in West Asia, combined with sluggish growth in Europe and the U.S., influenced market conditions. The rise in freight costs, container shortages, and port congestion, particularly in Singapore and the Red Sea, exacerbated logistical challenges. Increased air freight demand, driven by semiconductor and e-commerce sectors, further contributed to rising transportation rates. Germany's industrial struggles and high energy costs added to broader economic stagnation, signaling continued freight market volatility and economic uncertainties as the quarter concluded.

Q2 2024:

In Q2 2024, oxygen prices in Europe experienced fluctuations, largely influenced by moderate demand from the construction sector. Manufacturers scaled back operations due to ongoing economic uncertainties, though a downfall in natural gas prices helped ease production costs. Despite these cost savings, Europe faced broader economic challenges, including tight monetary policies implemented through the European Central Bank in order to control inflation. These measures restricted economic activities and reduced consumer spending, resulting in more cautious procurement practices. This complex environment led to mixed price trends, as the market navigated both stabilizing and disruptive factors during the quarter.

Q1 2024:

In Q1 2024, the European oxygen market maintained stability, with stabilized supply and demand driving steady pricing. Key industrial hubs, such as France and Germany, sustained consistent demand, ensuring a stable market environment. While natural gas prices, crucial for oxygen production, remained stable, there were concerns about potential geopolitical risks across Eastern Europe, along with the chances of industrial slowdowns. Despite these challenges, the market remained cautiously optimistic, supported by minimal logistical disruptions and efficient transportation networks. Monitoring potential changes in industrial operations and the impact of geopolitical instability is crucial for anticipating future trends in the market.

Q4 2023:

European oxygen prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for oxygen can also be provided for an extensive list of European countries.

North America Oxygen Price

Q3 2024:

In Q3 2024, oxygen prices in North America remained stable, reflecting the mixed performance of the U.S. economy. While inflation issues and geopolitical tensions posed risks, the economy showed resilience with steady manufacturing output and robust consumer and business investments. The PPI for manufacturing declined modestly, signaling reduced production costs. Efforts to replenish inventories, coupled with GDP growth, bolstered demand. However, supply chain disruptions due to geopolitical risks and potential trade tariff uncertainties posed challenges. Despite the Fed's rate cuts aimed at fostering economic growth, labor market uncertainties could influence supply conditions into 2025.

Q2 2024:

Throughout the second quarter of 2024, oxygen market in the USA displayed mixed pricing trends, largely influenced by moderate demand from the construction sector, which helped maintain a balanced supply-demand equilibrium. Manufacturing activity remained subdued, as businesses adopted a cautious stance in response to active economic uncertainties. The downfall in natural gas prices alleviated some production costs, contributing to more stable pricing. However, the overall market was impacted by tight monetary policies, which constrained economic activity & purchasing ability. As a result, procurement practices became more conservative, adding complications to the market dynamics and contributing to price fluctuations.

Q1 2024:

In Q1 2024, North American oxygen prices saw a mixed trend, with minimal upward pressure. Steel manufacturing sustained steady demand, while fluctuations in the healthcare industry fostered the regional price fluctuations. Temporary supply constraints caused by scheduled maintenance for air separation units further impacted pricing in certain regions. The rise in natural gas prices moderately impacted production costs, particularly in the United States, where prices increased slightly. Meanwhile, Canadian market remained stable, supported by consistent industrial activity. Despite some fluctuations, oxygen prices in North America showed a slight upward trajectory, reflecting the balance between supply and demand dynamics.

Q4 2023:

The analysis of oxygen prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific oxygen historical data within the United States and Canada can also be provided.

Middle East and Africa Oxygen Price

The report explores the oxygen pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Oxygen Price

Q3 2024:

Oxygen prices in Asia Pacific, especially in China, saw a significant downturn in Q3 2024, driven by weak demand from key industries like construction and chemicals. The sluggish trend in real estate activities also suppressed market conditions. Adverse weather, including typhoons, disrupted production, while global shipping issues escalated transportation costs. These factors combined to dampen the overall market sentiment, leading to a noticeable drop in prices throughout the quarter. Logistics disruptions, including those from Typhoon Gaemi and the Dragon Boat Festival, contributed to supply chain challenges, deepening the downward trend in the region.

Q2 2024:

The oxygen market in Asia Pacific experienced a mixed trend in Q2 2024, driven by rising production costs and supply chain disruptions. Increased energy prices and logistical challenges placed upward pressure on prices, while amplified need from the medical industrial sectors supported a bullish market sentiment. China stood out with significant price movements, largely due to cautious restocking pattern and limited production activity. Seasonal factors, including low inventory levels following the May Day holiday, exacerbated supply constraints. The overall market saw a steady price rise, reflecting the combined impact of supply issues and strong downstream demand.

Q1 2024:

The APAC market for oxygen in Q1 2024 experienced steady growth, propelled by robust requirement across several sectors. The healthcare sector, in particular, remained a primary consumer due to continued needs for medical oxygen amidst active health concerns. In addition, industrial sectors such as chemical manufacturing and steel production supported the market’s expansion. Government initiatives endorsing infrastructure development and healthcare improvements played a key role in sustaining market growth. Strategic investments and collaborations targeted at proliferating production capacities and distribution networks further contributed to the region’s positive momentum, resulting in a stable market outlook as the first quarter concluded.

Q4 2023:

The oxygen pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This oxygen price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Oxygen Price

The analysis of oxygen prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Oxygen Price Trend, Market Analysis, and News  

IMARC's latest publication, “Oxygen Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” presents a detailed examination of the oxygen market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of oxygen at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed oxygen price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting oxygen pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Oxygen Market Analysis                                 

The global oxygen market size reached US$ 45.5 Billion in 2023. By 2032 IMARC Group expects the market to reach US$ 66.5 Billion, at a projected CAGR of 4.30% during 2023-2032.

• The increase in respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD) has positively affected the demand for medical oxygen. The aging demographic of the global population further increases the demand for healthcare services, which further augments the demand for medical oxygen.             
• Demand for industrial-grade oxygen continues to be driven by the expansion of steel and chemical production, as well as water treatment. Continuous improvement in the production of oxygen and its application in industrial processes is increasing efficiency and reducing costs.     
• Innovations in oxygen delivery systems, portable and lightweight oxygen concentrators, improve patient mobility and convenience. Advances in oxygen generation systems, such as PSA and membrane technology, are proving to be beneficial in providing efficient and economical solutions.   
• With growing industrialization and urbanization in economies of Asia Pacific and Latin America, consequential demand for both medical and industrial oxygen is rising. This is further supported by the government's investments in healthcare infrastructure and initiatives taken to increase the air quality in these regions, which will tend to increase market growth.
• Developed economies have stringent environmental regulations and are fueling the demand for oxygen across the wastewater treatment and pollution control sector. In addition, technological advances in green technologies and sustainable practices in these industries are the prime drivers promoting the use of oxygen for environmental benefits.
• Mergers and acquisitions between key players in the oxygen market result in consolidation that helps companies expand product portfolios and reach long geographic locations. This is further catalyzed by strategic alliances and collaborations that propel their technological capabilities and penetrate markets. 
• Home oxygen therapy is being influenced by rising demand from patients who prefer home healthcare services due to their ease of use and cost-effectiveness. Homecare settings are growing rapidly with technological advancements in the fields of telemedicine and remote monitoring.     
• The demand for high-purity oxygen has increased with growing activities in space exploration and aerospace, specifically for life support systems and rocket propulsion. The research and development in space missions fast-track development in the technology for production and storage of oxygen.    
• The COVID-19 pandemic has demonstrated the critical importance of reliable oxygen supply chains, prompting increased investments in infrastructure and emergency preparedness. Key focus areas for improvement include the enhancement of oxygen supply logistics and the expansion of storage capacities to better address the challenges posed by future health emergencies.

Oxygen News     

The report covers the latest developments, updates, and trends impacting the price of oxygen, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the oxygen price trend.

Latest developments in the oxygen industry:                   

• On 21^st September, Nitrex and Linde celebrated their 13-year collaboration, which covers Europe and North America. This partnership emphasizes both companies’ positioning in terms of technology, digital, and green footprints. It also solidifies the strong synergy between them, increasing the value that they bring to their customers and each other.
• On 11^th September 2023, Air Products partnered with Chengzhi to drive zero-emission heavy transportation in China’s Yangtze River Delta. They have launched their first commercial-scale hydrogen fueling station in Changshu city, Jiangsu province, capable of fueling city buses and heavy-duty trucks in logistics.

Product Description 

Oxygen is a gaseous chemical element with the formula O2. It comprises one-fifth of the Earth's atmosphere. Oxygen is necessary in the support of life and respiration of most organisms on the Earth. In medicine, it is applied to patients with respiratory conditions. It aids in the support of the lungs to make them function more efficiently and thus enable patients to recover and further enhance their health status.      

In industries such as steel manufacturing, chemical production, and wastewater treatment, it aids in the process of combustion, oxidation, and other chemical reactions. The usefulness of oxygen spans from its ability to sustain life, increase the efficiency of industries, and help in the environment through pollutant breakdown.

There are different types of oxygen, including medical oxygen, which is ultra-pure, meant for therapy, industrial oxygen is used in manufacturing and processing, while aviator's breathing oxygen is used by pilots when assents are gained to very high altitudes.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of oxygen pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting oxygen price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The oxygen price charts ensure our clients remain at the forefront of the industry.