Oman: Plaster Article Market 2024

Plaster Article Market Size in Oman

In 2021, the Omani plaster article market decreased by -62.3% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a noticeable setback. As a result, consumption attained the peak level of $X, and then contracted sharply in the following year.

Plaster Article Production in Oman

In value terms, plaster article production contracted significantly to $X in 2021 estimated in export price. Over the period under review, production, however, posted strong growth. The growth pace was the most rapid in 2020 when the production volume increased by 71%. As a result, production attained the peak level of $X, and then shrank notably in the following year.

Plaster Article Exports

Exports from Oman

For the fifth consecutive year, Oman recorded growth in overseas shipments of articles of plaster or of compositions based on plaster, which increased by 37% to X tons in 2021. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 206% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, plaster article exports skyrocketed to $X in 2021. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 72%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

India (X tons) was the main destination for plaster article exports from Oman, with a 86% share of total exports. Moreover, plaster article exports to India exceeded the volume sent to the second major destination, Qatar (X tons), more than tenfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to +35.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+52.8% per year) and the United Arab Emirates (+18.9% per year).

In value terms, India ($X) remains the key foreign market for plaster article exports from Oman, comprising 81% of total exports. The second position in the ranking was taken by Qatar ($X), with a 4% share of total exports. It was followed by Saudi Arabia, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India stood at +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+27.1% per year) and Saudi Arabia (+53.5% per year).

Export Prices by Country

In 2021, the average plaster article export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 an increase of 32% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to India ($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 India (+0.6%), while the prices for the other major destinations experienced a decline.

Plaster Article Imports

Imports into Oman

Plaster article imports into Oman shrank to X tons in 2021, which is down by -6.8% against 2020 figures. Over the period under review, imports, however, recorded measured growth. The pace of growth was the most pronounced in 2013 with an increase of 59%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, plaster article imports fell slightly to $X in 2021. Overall, imports recorded a pronounced decline. The most prominent rate of growth was recorded in 2015 when imports increased by 19%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of plaster article to Oman, accounting for a 82% share of total imports. Moreover, plaster article imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The third position in this ranking was taken by Singapore (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.2% per year) and Singapore (+38.4% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of plaster article to Oman, comprising 76% of total imports. The second position in the ranking was held by China ($X), with an 11% share of total imports. It was followed by Singapore, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.7% per year) and Singapore (+3.5% per year).

Import Prices by Country

In 2021, the average plaster article import price amounted to $X per ton, increasing by 6.9% against the previous year. Overall, the import price, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2018 an increase of 21%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Singapore ($X per ton) and China ($X per ton), while the price for Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Free Zones (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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