Oman: Iron Angle Market 2024

Iron Angle Market Size in Oman

The Omani iron angle market shrank sharply to $X in 2021, which is down by -35.9% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Iron Angle Production in Oman

In value terms, iron angle production declined to $X in 2021 estimated in export price. In general, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 1,107%. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Iron Angle Exports

Exports from Oman

In 2021, the amount of angles, shapes and sections (of iron or non-alloy steel) exported from Oman soared to X tons, surging by 28% on the previous year. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 796%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, iron angle exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 443% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for iron angle exports from Oman, with a 75% share of total exports. Moreover, iron angle exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X tons), sixfold. The third position in this ranking was taken by Kuwait (X tons), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+54.3% per year) and Kuwait (+57.5% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Oman, comprising 73% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 15% share of total exports. It was followed by Kuwait, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+51.3% per year) and Kuwait (+60.3% per year).

Export Prices by Country

The average iron angle export price stood at $X per ton in 2021, jumping by 41% against the previous year. Overall, the export price, however, showed a mild downturn. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Kuwait ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+1.8%), while the prices for the other major destinations experienced a decline.

Iron Angle Imports

Imports into Oman

In 2021, the amount of angles, shapes and sections (of iron or non-alloy steel) imported into Oman fell markedly to X tons, shrinking by -27.6% against 2020. Overall, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2015 when imports increased by 55%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, iron angle imports shrank sharply to $X in 2021. Over the period under review, imports recorded a deep reduction. The growth pace was the most rapid in 2015 when imports increased by 58% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest iron angle supplier to Oman, accounting for a 50% share of total imports. Moreover, iron angle imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was held by Saudi Arabia (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+12.8% per year) and Saudi Arabia (+21.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of angles, shapes and sections (of iron or non-alloy steel) to Oman, comprising 53% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at -13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+26.2% per year) and Turkey (+5.4% per year).

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, surging by 4.8% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 33%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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