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.

Oxygen Price Chart

Oxygen Price Trends and Forecast

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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.

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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.

Product Details

Report Features Details
Product Name Oxygen
HS CODE 28044000
CAS Number 7782-44-7
Industrial Uses Cutting of metals, Sewage treatment, Oxidising agent in missiles, Production of glass products
Chemical Formula O2
Synonyms Molecular, oxygen
Molecular Weight 31.999 g/mol
Supplier Database The Linde Group, Air Liquide, Praxair Technology, Inc., TAIYO NIPPON SANSO, Airgas, Inc
Region/Countries Covered 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
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-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.

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.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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