Market research

Oxygen market in Portugal

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The Portuguese oxygen market was shaped by established producers like Air Liquide Portugal, which used renewable energy for production, and Gasin, contributing to regional growth in the north. Market volume expanded sharply from 55.3 million cubic meters in 2018 to 89.9 million cubic meters in 2019, a 62% increase.

The COVID-19 pandemic led to a contraction in market volume to 83.4 million cubic meters in 2020. However, in 2021, volume recovered to 88.8 million cubic meters, driven by increased global demand for oxygen therapy during the health crisis.

Subsequent years saw fluctuations: volume dropped to 80.3 million cubic meters in 2022 while market value rose to 44.3 million US dollars. Air Liquide continued its focus on low-carbon production, and the recovery of Portugal's automotive sector may have supported industrial oxygen demand. In 2023, volume increased to 85.9 million cubic meters but value fell to 36.5 million US dollars, and in 2024 volume declined to 77.8 million cubic meters as value grew to 45.7 million US dollars.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2024
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2024
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2024
    2. 4.1.2.2. Imports, 2018-2025
    3. 4.1.2.3. Exports, 2018-2025
    4. 4.1.2.4. Market size, 2018-2024
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Portugal
  1. 5.1.1. In kind, 2018-2024, M m³
  2. 5.1.2. In value, 2018-2024, K $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, M m³
  2. 5.2.2. In value, 2018-2024, K $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K m³
    1. 6.1.2.1. Annual dynamics of product's exports from Portugal in kind, 2018-2025, K m³
    2. 6.1.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, K m³
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/K m³
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Portugal, 2018-2025, $ US/K m³
    2. 6.1.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, $ US/K m³
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K m³
    1. 6.2.2.1. Annual dynamics of product's exports from Portugal in kind, 2018-2025, K m³
    2. 6.2.2.2. Dynamics of product's exports in kind from Portugal by countries, 2018-2025, K m³
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Portugal in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Portugal by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/K m³
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Portugal, 2018-2025, $ US/K m³
    2. 6.2.4.2. Dynamics of average price of product's exports from Portugal by countries, 2018-2025, $ US/K m³
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K m³
    1. 7.1.2.1. Annual dynamics of product's imports to Portugal in kind, 2018-2025, K m³
    2. 7.1.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, K m³
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/K m³
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Portugal, 2018-2025, $ US/K m³
    2. 7.1.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, $ US/K m³
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K m³
    1. 7.2.2.1. Annual dynamics of product's imports to Portugal in kind, 2018-2025, K m³
    2. 7.2.2.2. Dynamics of product's imports in kind to Portugal by countries, 2018-2025, K m³
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Portugal in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Portugal by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/K m³
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Portugal, 2018-2025, $ US/K m³
    2. 7.2.4.2. Dynamics of average price of product's imports to Portugal by countries, 2018-2025, $ US/K m³
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K m³
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K m³
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production oxygen in Portugal

In value, 2018-2021, K $ US

In Portugal, oxygen production reached a value of 43,597 thousand US dollars in 2021, representing a 13.4% increase compared to 2020. Over the period from 2018 to 2021, production grew by 14.8%, with a compound annual growth rate of 4.7%. The most significant decline occurred in 2020, when production fell by 4.4%.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	5.9%	(4.4%)	13.4%	4.7%

Source: SHEV.io

In kind, 2018-2021, M m³

Portugal produced 109.5 million cubic meters of oxygen in 2021, marking a 3.1% increase from the previous year. From 2018 to 2021, production rose by 14.5%, with a compound annual growth rate of 4.6%. The largest decline was recorded in 2020 at 1.3%, while the most substantial increase occurred in 2019, with a growth of 12.6%.

Annual dynamics of production in Portugal in kind, 2018-2021, M m³

Parameter		2019	2020	2021	CAGR
1	Change from last year	12.6%	(1.3%)	3.1%	4.6%

Source: SHEV.io

Exports oxygen from Portugal

Exports in kind, K m³

Oxygen exports from Portugal increased for the second consecutive year. In 2021, exports totaled 35,621 thousand cubic meters, showing a slight gain of 1.0% compared to the previous year. Between 2018 and 2021, exports decreased by 34.6%, equating to an annualized decline of 13.2%. The lowest export volume was recorded in 2019 at 28,528 thousand cubic meters, which also saw the largest decline of 47.6%. In contrast, the most significant increase occurred in 2020, with a rise of 23.6%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, K m³

Parameter		2019	2020	2021	CAGR
1	Change from last year	(47.6%)	23.6%	1.0%	(13.2%)

Source: SHEV.io

From 2018 to 2021, Spain was the key and nearly exclusive market for Portugal's oxygen exports in kind, accounting for 99.7% of total flows.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Portugal in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

In 2021, the value of oxygen exports from Portugal amounted to 6,393 thousand US dollars, marking a decline of 29.9% compared to 2020. Between 2018 and 2021, exports decreased by 34.4%, equating to an annualized rate of 13.1%. The largest increase was recorded in 2020, with a growth of 10.3%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(15.2%)	10.3%	(29.9%)	(13.1%)

Source: SHEV.io

From 2018 to 2021, oxygen from Portugal was supplied almost exclusively to Spain, which absorbed 99.7% of total exports in value terms.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Portugal in value, 2018-2021

Source: SHEV.io

Imports oxygen to Portugal

Imports in kind, K m³

Portugal's oxygen imports increased for the second consecutive year. In 2021, the country imported 13,025 thousand cubic meters of oxygen, representing a 20.0% rise over the past year. Between 2018 and 2021, imports grew by 5.9%, equating to an annualized rate of 1.9%. The minimum import volume was recorded in 2019 at 10,854 thousand cubic meters, which also saw the largest decline of 23.3%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, K m³

Parameter		2019	2020	2021	CAGR
1	Change from last year	(23.3%)	15.0%	20.0%	1.9%

Source: SHEV.io

Throughout 2018 to 2021, Spain dominated the country structure of oxygen imports in kind for Portugal, with a share of 99.0% of total flows.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Portugal in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

Oxygen imports to Portugal increased for the second consecutive year. In 2021, Portugal imported 2,715 thousand US dollars worth of oxygen, showing an advance of 27.7% year-over-year. Over the period from 2018 to 2021, imports increased by 22.3%, with a compound annual growth rate of 6.9%. The minimum value was recorded in 2019 at 1,988 thousand US dollars, which also saw the largest decline of 10.5%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US