Oman: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Oman

In 2022, the Omani asphalt or bitumen article market was finally on the rise to reach $X for the first time since 2016, thus ending a five-year declining trend. Over the period under review, consumption, however, saw a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Exports of Asphalt or Bitumen Articles

Exports from Oman

In 2022, overseas shipments of asphalt or bitumen articles were finally on the rise to reach X tons after eight years of decline. Over the period under review, exports, however, saw a precipitous setback. The pace of growth was the most pronounced in 2013 with an increase of 156% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, asphalt or bitumen article exports rose notably to $X in 2022. In general, exports, however, showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2013 when exports increased by 123%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for asphalt or bitumen article exports from Oman, with a 65% share of total exports. Moreover, asphalt or bitumen article exports to Yemen exceeded the volume sent to the second major destination, Jordan (X tons), twofold. The third position in this ranking was held by Iraq (X tons), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Yemen stood at -16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (-23.3% per year) and Iraq (-2.6% per year).

In value terms, Yemen ($X) remains the key foreign market for asphalt or bitumen articles exports from Oman, comprising 65% of total exports. The second position in the ranking was held by Jordan ($X), with a 26% share of total exports. It was followed by Iraq, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Yemen amounted to -25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (-27.4% per year) and Iraq (-19.4% per year).

Export Prices by Country

In 2022, the average asphalt or bitumen article export price amounted to $X per ton, with an increase of 8.8% against the previous year. In general, the export price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 36%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Oman

In 2022, overseas purchases of asphalt or bitumen articles increased by 15% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2016 with an increase of 53%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, asphalt or bitumen article imports reached $X in 2022. In general, imports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2016 when imports increased by 36% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of asphalt or bitumen article to Oman, accounting for a 70% share of total imports. Moreover, asphalt or bitumen article imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. The third position in this ranking was held by Bahrain (X tons), with a 4.1% share.

From 2012 to 2022, 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 (-4.8% per year) and Bahrain (-9.0% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of asphalt or bitumen articles to Oman, comprising 64% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 27% share of total imports. It was followed by Bahrain, with a 3.7% share.

From 2012 to 2022, the average annual growth rate 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 (-2.4% per year) and Bahrain (-11.9% per year).

Import Prices by Country

The average asphalt or bitumen article import price stood at $X per ton in 2022, falling by -8.4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 25% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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