Oman: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Oman

The Omani base metal flexible tubing market contracted remarkably to $X in 2021, declining by -70.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a abrupt slump. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports from Oman

In 2021, overseas shipments of base metal flexible tubing, iron or steel decreased by -5.8% to X kg, falling for the fourth consecutive year after two years of growth. In general, exports faced a abrupt descent. The pace of growth was the most pronounced in 2016 when exports increased by 66%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, base metal flexible tubing exports reduced to $X in 2021. Over the period under review, exports faced a deep setback. The growth pace was the most rapid in 2018 when exports increased by 109% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X kg) was the main destination for base metal flexible tubing exports from Oman, with a 95% share of total exports. Moreover, base metal flexible tubing exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar amounted to +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-39.9% per year) and Free Zones (-82.9% per year).

In value terms, Qatar ($X) emerged as the key foreign market for base metal flexible tubing, iron or steel exports from Oman, comprising 59% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar stood at +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-31.8% per year) and Free Zones (-61.7% per year).

Export Prices by Country

In 2021, the average base metal flexible tubing export price amounted to $X per ton, falling by -5.2% against the previous year. In general, the export price, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 173%. The export price peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably country of destination: the country with the highest price was Free Zones ($X per ton), while the average price for exports to Qatar ($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 Free Zones (+145.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports into Oman

In 2021, base metal flexible tubing imports into Oman reduced notably to X tons, with a decrease of -75.6% on the year before. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 426%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, base metal flexible tubing imports dropped notably to $X in 2021. In general, imports showed a deep downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 463% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of base metal flexible tubing to Oman, with a 39% share of total imports. Moreover, base metal flexible tubing imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.1% per year) and Spain (+72.7% per year).

In value terms, the United Arab Emirates ($X), Canada ($X) and Switzerland ($X) constituted the largest base metal flexible tubing suppliers to Oman, with a combined 46% share of total imports. These countries were followed by Spain, Denmark, the United States, India, Turkey, Germany and China, which together accounted for a further 19%.

Spain, with a CAGR of +60.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average base metal flexible tubing import price amounted to $X per ton, rising by 47% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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