Oxygen Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Oxygen in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Oxygen Price Trend for the Second Half of 2023

The Lao People’s Democratic Republic Ministry of Health, in collaboration with the World Health Organization (WHO), inaugurated the third and fourth provincial medical oxygen plants at Luang Prabang and Oudomxay provincial hospitals in Thailand. These plants, supported by WHO, mark a significant advancement in the country's ability to provide oxygen therapy, a critical medicine for treating various diseases, including COVID-19. Funded by a 35.5 billion Lao Kip (US$1.7 million) donation from WHO, these plants are capable of producing enough oxygen to treat tens of thousands of patients annually, reducing dependency on imported liquid oxygen and stabilizing the prices of medical oxygen in the domestic as well as Asian markets.

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In the past few quarters, the prices of oxygen skyrocketed, partly due to the rise in the number of cases of COVID-19 and partly due to its limited availability. In order to curb this excessive rise, the Asian government capped its prices, leading to stagnancy in the pricing movement of oxygen in the later quarters of the year. However, the consumers were yet to reap the benefits of stagnant oxygen prices as even by the end of the year, the prices of oxygen were on the upper side of the pricing spectrum.

Analyst Insight

According to Procurement Resource, the price of Oxygen is estimated to stabilize in the upcoming quarters as the demand and supply sectors of the market are expected to attain an equilibrium, particularly in Asian countries.

Oxygen Price Trend for the First Half of 2023

In the first half of the year 2023, almost a year since the beginning of the war in Ukraine, the global trade systems are trying to stand again. The supply chains are being restored, and alternate trade routes are being developed. Even though normalcy has not yet achieved the pre-Covid levels, the ease is rising in the energy and freight sectors. This also affected the oxygen market sentiments.

After the chaos for Oxygen cylinders in India during the second wave of Covid 19, the Government capped the margins for Oxygen distributors at 70% to bring it down from a whopping 198% at the time. And in January’23, the Government of India announced an extension of the same for another three months. Overall, stable market dynamics were observed.

Analyst Insight

According to Procurement Resource, the Oxygen market behavior is expected to remain similar in the coming months as well.

Oxygen Price Trend for Second Half of 2022

The frail world economy, which was still buckling under the weight of the covid epidemic, was severely damaged by the global economic collapse that followed the Russia-Ukraine hostilities. An acute global energy price spike caused by the unheard-of jump in crude oil and petrol prices resulted in double-digit inflation.

The price trend of oxygen (gas) reached an all-time high due to rising upstream operational expenses and strong demand from the medical and industrial sectors.

The producer price index for manufactured oxygen increased dramatically in the USA, reflecting the impact of inflation and price increases on oxygen pricing. However, by the end of the final quarter of 2022, the index had stabilized.

Analyst Insight

Given the current market dynamics the prices of oxygen are expected to increase in the coming months. The rise in operational cost and high demand from the market are the major drivers of the oxygen price trend.

Oxygen Price Trend for the First Half of 2022

The worldwide economic meltdown unleashed in the aftermath of Russia-Ukraine confrontations led to disastrous effects on the fragile world economies which were still reeling under the pressure of covid pandemic. The unprecedented increase in crude oil and gas prices triggered an acute energy price worldwide giving rise to double-digit inflation.

Owing to the higher upstream operating costs and robust demand from the medical and industrial sector the price trend of oxygen (gas) reached an all-time high.

In the USA the producer price index for manufactured oxygen which averaged 390.07 at the start of the current year peaked around March averaging 460.28 thereby, indicating the effect of raised prices and inflation on oxygen prices. However, the index stabilized towards the second quarter and plateaued measuring 461.22 in June 2022.

Procurement Resource provides latest prices of Oxygen. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.