Oxygen is a non-metallic element that belongs to the 16th group of the periodic table and is a member of the chalcogen group. It is the most prevalent element on the globe and is essential for the survival of all living beings.
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It has no taste or smell and seems to be colourless. It has an atomic weight of 15.9994 and atomic number 8. The melting point and boiling point of oxygen are −218.4 °C (−361.1 °F) and −183.0 °C (−297.4 °F). The density of oxygen is (1 atm, 0 °C)1.429 g/litre.
It forms oxides with almost every element and is a highly reactive gas. It is somewhat soluble in water and is a non-combustible gas, but induces the burning of other elements.
The leading oxygen-exporting countries are the European Union, Germany, Belgium, and France.
Key Details About the Oxygen Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the oxygen price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The oxygen price trends, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Oxygen Price Trend:
Due to its importance for all living things to survive, the oxygen industry is expanding quickly. Moreover, oxygen has a wide range of other uses, including the manufacturing and production of glass and stone products as well as mining. In addition to this, the gas’ primary uses include melting, refining, and the production of steel from other metals, all of which contribute to the market’s expansion.
Also, in cases of high pressure, specific oxygen chambers are used to raise the partial pressure of oxygen in the patient. Nitric acid and hydrogen peroxide are two more compounds that are produced in huge quantities using oxygen.
Moreover, it is used to create polyester and chloroethene as well as epoxyethane (ethylene oxide), an antifreeze, which is also further expanding the market growth.
Key Market Players:
- The Linde Group
- Air Liquide
- Praxair Technology, Inc.
- TAIYO NIPPON SANSO, Airgas, Inc
News and Events:
- Feb 18, 2023: The ultra-High purity cryogenic medical oxygen and medical gases plant, built at a cost of INR 150 crores by INOX Air Products, the leading producer of Industrial and medical gases, have started operating
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Reference Link – https://researz.com/oxygen-price-forecasts/