Oman: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Oman

In 2021, the Omani diethylene glycol and digol market increased by 271% to $X, rising for the fifth consecutive year after two years of decline. In general, consumption showed a significant expansion. Diethylene glycol and digol consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of X-Oxydiethanol (Diethylene Glycol, Digol) in Oman

In value terms, diethylene glycol and digol production surged to $X in 2021 estimated in export price. Overall, production showed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 172%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports from Oman

In 2021, overseas shipments of X-oxydiethanol (diethylene glycol, digol) decreased by -9.1% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 814% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, diethylene glycol and digol exports fell to $X in 2021. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 551% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for diethylene glycol and digol exports from Oman, accounting for a 69% share of total exports. Moreover, diethylene glycol and digol exports to China exceeded the volume sent to the second major destination, Turkey (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +68.1%.

In value terms, China ($X) and Turkey ($X) appeared to be the largest markets for diethylene glycol and digol exported from Oman worldwide.

China, with a CAGR of +47.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average diethylene glycol and digol export price stood at $X per ton in 2021, increasing by 2.2% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 2.5% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+4.8%).

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports into Oman

After two years of growth, supplies from abroad of X-oxydiethanol (diethylene glycol, digol) decreased by -27.5% to X tons in 2021. Overall, imports, however, enjoyed a noticeable increase. The pace of growth was the most pronounced in 2014 with an increase of 413% against the previous year. Imports peaked at X tons in 2020, and then shrank sharply in the following year.

In value terms, diethylene glycol and digol imports stood at $X in 2021. Over the period under review, imports, however, recorded a slight expansion. The growth pace was the most rapid in 2014 when imports increased by 578%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest diethylene glycol and digol supplier to Oman, with a 61% share of total imports. Moreover, diethylene glycol and digol imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+35.0% per year) and India (+7.0% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of X-oxydiethanol (diethylene glycol, digol) to Oman, comprising 62% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+34.3% per year) and India (+1.8% per year).

Import Prices by Country

In 2021, the average diethylene glycol and digol import price amounted to $X per ton, rising by 39% against the previous year. In general, the import price, however, showed a slight descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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