Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
Oxygen Price Trend Analysis 2026: Price Drivers, Historical Prices, Latest News, Supply Demand Analysis & Market Insights
Written ByUdeesha Tomar
Oxygen Price Trend Q2 2026
- Oxygen prices showed mixed regional movement during Q2’26, with firmer Asian conditions contrasting with softer-to-stable pricing in North America.
- Electricity, air-separation operating rates and plant maintenance shaped production costs, with temporary outages tightening merchant oxygen availability in some markets.
- Steel, chemicals and healthcare remained the main demand centres, although weaker steel procurement later in the quarter reduced upward momentum.
During Q2 2026, oxygen prices strengthened notably in China before easing toward the end of the quarter. Improved steel and chemical operating activity supported merchant liquid oxygen demand during April and May, while maintenance at several air-separation units temporarily tightened available supply. The market firmed further in early June as industrial users increased purchases, but momentum weakened later when steel-sector procurement slowed, particularly in major northern consuming areas. Rising air-separation plant operating rates and new capacity also improved supply availability, preventing the earlier rally from continuing. In North America, oxygen pricing followed a softer pattern, with an early-quarter correction followed by greater stability as adequate supply offset improving steel production. Industrial gas suppliers continued attempting to recover higher distribution, maintenance and operating expenses, which limited deeper reductions. European conditions remained comparatively steady, supported by industrial and medical demand but restrained by weak steel and manufacturing activity.
Analyst Insight
According to Procurement Resource, oxygen prices are expected to remain mixed, with steel operating rates and plant maintenance influencing short-term movements while improving supply availability limits stronger increases.
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- Global oxygen prices remained firm in Q1’26 due to elevated electricity costs, stronger industrial gas consumption, and rising logistics expenses linked to Middle East shipping disruptions.
- Feedstock pressure stayed high as energy-intensive air separation production costs increased alongside volatile power and fuel markets during the quarter.
- Downstream demand improved from steelmaking, metal fabrication, chemicals, and healthcare sectors, although procurement remained cautious amid high operating costs.
During Q1’26, the Asian oxygen market followed a stable-to-firm trend supported by higher industrial activity and elevated utility costs. Rising electricity prices significantly impacted production economics, as oxygen manufacturing through air separation units remained highly energy intensive. Demand improved after the Lunar New Year from steel and metal-processing industries, while stronger manufacturing activity supported industrial gas consumption across regional markets. Global crude steel production remained near 166.1 million tonnes from January to March, with China maintaining dominance in global steel output, supporting oxygen demand from blast furnaces and electric arc furnaces. Supply-side costs also increased due to higher freight and insurance expenses linked to disruptions near the Strait of Hormuz, which affected the transportation of cryogenic gases and industrial equipment across Asian trade routes. However, cautious purchasing from downstream industries and moderate construction activity limited sharper price increases during the quarter.
About Oxygen
Oxygen is a colorless, odourless and tasteless gas. Life will exist there. Although it is noncombustible, combustible elements will be burned with its active help. Some substances that won't burn in the air will ignite when exposed to oxygen. Materials that burn in air will burn in oxygen more forcefully.
It is transported at pressures of 2000 psig or higher because it is a non-liquid gas. No flame can ignite pure oxygen. The canisters may violently burst and shoot into the air when exposed to fire or extreme heat for an extended period of time. Inhalation, resuscitation, and the creation of synthesis gas from coal all make use of oxygen.
Oxygen Product Detail
HS Code
28044000
Chemical Formula
O2
CAS Number
7782-44-7
Molecular Weight
31.999 g/mol
Industrial Uses
Cutting of metals, Sewage treatment, Oxidising agent in missiles, Production of glass products
Synonyms
Molecular, oxygen
Supplier Database
The Linde Group, Air Liquide, Praxair Technology, Inc., TAIYO NIPPON SANSO, Airgas, Inc
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Oxygen Production Processes
- Production of Oxygen by Recovery from Air
In general, this method of producing oxygen involves the cryogenic distillation of air. It uses a distillation column under the right circumstances. As a byproduct, it also creates nitrogen. High pressure causes it to create oxygen.
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