Oman: Ammonium Nitrate Market 2024

Ammonium Nitrate Market Size in Oman

The Omani ammonium nitrate market contracted dramatically to $X in 2021, reducing by -97.4% against the previous year. Overall, consumption faced a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 6.5% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ammonium Nitrate Production in Oman

In value terms, ammonium nitrate production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 29%. As a result, production reached the peak level of $X, and then fell in the following year.

Ammonium Nitrate Exports

Exports from Oman

In 2021, exports of ammonium nitrate from Oman surged to X tons, jumping by 122% on the year before. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 385% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, ammonium nitrate exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2018 with an increase of 322% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

India (X tons) was the main destination for ammonium nitrate exports from Oman, with a 58% share of total exports. Moreover, ammonium nitrate exports to India exceeded the volume sent to the second major destination, South Korea (X tons), threefold. China (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to India totaled +255.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+181.4% per year) and China (+24.8% per year).

In value terms, India ($X) remains the key foreign market for ammonium nitrate exports from Oman, comprising 62% of total exports. The second position in the ranking was held by China ($X), with a 14% share of total exports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +358.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+23.1% per year) and South Korea (+198.3% per year).

Export Prices by Country

The average ammonium nitrate export price stood at $X per ton in 2021, growing by 7% against the previous year. In general, the export price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 41%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ammonium Nitrate Imports

Imports into Oman

In 2021, overseas purchases of ammonium nitrate increased by 54% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ammonium nitrate imports surged to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest ammonium nitrate supplier to Oman, accounting for a 42% share of total imports. Moreover, ammonium nitrate imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. The third position in this ranking was taken by France (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +44.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.6% per year) and France (+1.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of ammonium nitrate to Oman, comprising 44% of total imports. The second position in the ranking was taken by Egypt ($X), with a 12% share of total imports. It was followed by the Netherlands, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +51.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+9.1% per year) and the Netherlands (+5.5% per year).

Import Prices by Country

The average ammonium nitrate import price stood at $X per ton in 2021, picking up by 17% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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