For the Quarter Ending December 2021
North America
The overall market outlook of the Bulk Oxygen in North America for quarter 4 depicts there was an immense increase in the market price of Bulk Oxygen as during 2021 there was an increased demand for medical oxygen due to the pandemic spread globally including North America. Amid pandemic, the critically ill patients suffered from acute respiratory syndrome. Thus, the demands for intensive critical care coupled with large patient pool increased.
Demand for Bulk Oxygen also remained robust from Industrial gases segment, where offtakes from metal industrial bolstered overall demand outlook for the product throughout the quarter. Conclusively, post gaining marginal hikes, Bulk Oxygen showcased positive outlook across North America during Q4 2021.
Asia
In Asia, the market price overview describes that oxygen demand increased in the medical sector as due to the covid 19, the oxygen demands had been increased rapidly and government had centered their mind on providing adequate medical oxygen availability for strengthening the fight against covid 19 pandemic. Chinese manufacturers have increased market price for several industrial gases for downstream industries, due to inflationary pressure and production halts. The surge demand for medical oxygen was expected to drive oxygen market during the period, however, new variant of pandemic came out to be less fatal than previous variants.
Europe
In Europe, the market demand for the Bulk Oxygen remained high during December 2021 due to the distress caused by dominance of Omicron variant across few major European economies. It was observed that some economies like Italy and France marked elevated demands for Oxygen in the region while high energy value remained a matter of concern for consumers. There was a significant impact of weather conditions due to which extremely tight market situation has been observed in Europe in ending quarter of 2021. Due to the weather conditions gas market price had rose with significant affect which meanwhile affected the pricing dynamics of bulk oxygen in Europe during Q4 2021.
For the Quarter Ending September 2021
North America
In North America, bulk Oxygen prices soared throughout the quarter owing to the high demand from the medical as well as industrial sectors amid prolonged supply shortage. In addition, disruption caused by Ida hurricane that made landfall in the Gulf Coast of the US led to the interruption in the production as well as supply chains that further contributed to the inflation in the pricing trend of Bulk Oxygen in the region during this timeframe.
Asia
In Asia, market outlook for Bulk Oxygen varied from country to country during the third quarter of 2021. In India, oxygen demand continued to be buoyant throughout the quarter due to the rising cases of Covid 19 over the summer. Moreover, the demand from industrial sectors remained firm in this timeframe after the resurgence in the industrial as well as commercial activity. Hence, strong demand and shortage of the product kept the prices high during this quarter. In addition, high freight charges also sent ripples to the prices of Bulk Oxygen in India.
Europe
In Europe, an exponential surge in the prices of Bulk Oxygen was observed in the third quarter of 2021. The increase in the Covid 19 Delta virus cases across the European Region resulted into the elevated demand for Oxygen in this timeframe. Moreover, high demand from overseas market also exerted pressure on the regional Bulk Oxygen manufacturers. Thus, tight supplies and robust demand kept the market sentiments high throughout the quarter.
For the Quarter Ending June 2021
North America
Global demand for bulk Oxygen was primarily driven by the demand for medical Oxygen from Asia, amid rapid surge in pandemic cases during April. Post recovery from pandemic, industrial Oxygen demand effectively improved in USA, bolstered by resumption in majority of the industrial activities in the country. On the other hand, a considerable decline in demand for medical Oxygen from the regional market was observed in the meantime, following consistent fall in the Covid curve of the country. Therefore, an effective rise in prices of product was observed during Q2 2021 across North America region.
Asia
In India, Oxygen demand increased to multi folds during Q2 2021, following the unprecedented surge in delta virus cases. Devastating pandemic situation in the country led to an astonishing hike in the demand for medical Oxygen. Besides, major steel plants, diverted their production to medical oxygen production increased their plant operating rates. Amidst the hustle, in order to adhere gains in terrible times some people indulged in black marketing of Oxygen, selling the product at 10 times higher prices than the normal price. Since demand was too high, India had to import Oxygen from all the possible sources of Asia, Europe, North America and Middle East during this period.
Europe
In Europe, overall demand for Oxygen increased by more than 15% during this quarter. The demand was primarily driven by medical sector, especially from Asia. However, as some European countries were recovering from the repercussions of the pandemic, industrial activities showcased significant improvement, which increased the regional demand for Industrial Oxygen. In addition, major gas manufacturers like Linde and Air Liquide were witnessed exporting Oxygen to India to satisfy the overall urgency of medical Oxygen under pandemic mayhem.
For the Quarter Ending March 2021
North America
Demand for medical Oxygen remained stable in Q1 but the supply remained tight, which supported the prices of Bulk Oxygen across the region. Recent medical Oxygen stats across North America revealed that there is a huge shortage of medical oxygen in several countries of North America. Oxygen demand has risen phenomenally in past few months with many-folds increase in the number of COVID-19 patients at hospitals in certain areas like south California. In addition, demand from industrial gases sector such as metal manufacturing, remained marginally high than the prior quarter. Looking at robust demand, Messer and North Star BlueScope Steel (NSBS) entered into an agreement in March to increase the supply of gaseous oxygen in Delta by up to 700 tons-per-day by building a new air separation unit (ASU).
Asia
In the Asia Pacific region, Liquid Oxygen sustained its high demand from the prior quarter. The demand was majorly driven by medical oxygen sector and industrial sector like steel manufacturing industries. During January, demand for medical Oxygen declined due to reduction in COVID cases across the region which later increased due to resurgence in infections. Furthermore, the demand for industrial Oxygen from Steel manufacturing industries showed continuous improvement over Q4 2020. This rise in demand amidst tight supply supported the price of bulk Oxygen during the quarter.
Europe
According to most Bulk Oxygen manufacturers of Europe, around 40% of the Oxygen demand comes from the medical sector of the region. Hence the demand for medical Oxygen remained robust due to sustained rise in COVID-19 cases. However, lack of sufficient availability of Oxygen in the market triggered sharp increases in Bulk Oxygen prices. Additionally, demand from the metal manufacturing sector marginally increased from the prior quarter due to some improvement observed in automotive and construction sectors. Roll out of COVID-19 vaccines and ongoing vaccination drives improved the market sentiments, and it is anticipated that the market would grab its pace in forthcoming quarters.
For the Quarter Ending December 2020
Asia
Although the demand for medical oxygen witnessed steep surge in the initial months of the pandemic but it stabilized gradually by Q4 2020 following the reduction in COVID-19 cases in major Asian countries like China and India. Air Liquide, a global level bulk Oxygen manufacturer, stated that they faced sharp increase in demand for industrial Oxygen by the end of Q4 2020 from consolidated engineering and construction market of Asia Pacific region. Linde, another multinational bulk Oxygen manufacturer quoted that their overall sales grew by 8% which led to a marginal increase in prices of bulk Oxygen by 1% compared to Q4 2019.
North America
The demand for bulk Oxygen was stable in North America region during fourth quarter of 2020 due to firm demand from metal manufacturing and healthcare sector. Linde, an international manufacturer of bulk Oxygen, stated that their sales during final quarter of 2020 increased by 3% compared to the fourth quarter of 2019 due to the increased demand from healthcare sector. In addition, compared to Q4 2019, prices of medical Oxygen rose by 2% whereas industrial Oxygen prices remained nearly stable due its feeble demand.
Europe
According to Air Liquide, healthcare sector covers almost 40% of their total gas and services market in Europe, due to COVID-19 it has showcased 9.7% growth which remained high till the end of final quarter 2020. By the end of the fourth quarter, demand for bulk Oxygen from chemical and steel industries gradually improved due to the recovery in automotive, metal manufacturing, and energy industry in Europe. Demand in eastern Europe was also deemed good in the fourth quarter due to the upsurge in the industrial requirements from Russia and Poland.
