Oman: Base Metal Hook Market 2024

Base Metal Hook Market Size in Oman

In 2022, the Omani base metal hook market increased by 4.1% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.2% against 2018 indices. Base metal hook consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Base Metal Hook Production in Oman

In value terms, base metal hook production rose slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2015 with an increase of 211%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Base Metal Hook Exports

Exports from Oman

After three years of decline, overseas shipments of base metal hooks, eyes and eyelets increased by 96% to X tons in 2022. Over the period under review, exports, however, saw a sharp downturn. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, base metal hook exports skyrocketed to $X in 2022. Overall, exports, however, showed a precipitous curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 86%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for base metal hook exports from Oman, accounting for a 98% share of total exports. It was followed by the United Arab Emirates (X kg), with a 0.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar amounted to +22.6%.

In value terms, Qatar ($X) remains the key foreign market for base metal hooks, eyes and eyelets exports from Oman, comprising 89% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Qatar totaled +22.3%.

Export Prices by Country

In 2022, the average base metal hook export price amounted to $X per ton, shrinking by -18.8% against the previous year. Over the period under review, the export price, however, posted prominent growth. The pace of growth was the most pronounced in 2013 an increase of 35% against the previous year. The export price peaked at $X per ton in 2021, and then reduced markedly in the following year.

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 Qatar stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+37.4%), while the prices for the other major destinations experienced mixed trend patterns.

Base Metal Hook Imports

Imports into Oman

In 2022, purchases abroad of base metal hooks, eyes and eyelets was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a deep slump. The growth pace was the most rapid in 2019 with an increase of 55%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal hook imports totaled $X in 2022. Overall, imports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by 87%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of base metal hook to Oman, with a 77% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The third position in this ranking was held by the UK (X tons), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-14.0% per year) and the UK (+8.2% per year).

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to Oman, comprising 43% of total imports. The second position in the ranking was held by the UK ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+30.4% per year) and the United Arab Emirates (-16.1% per year).

Import Prices by Country

In 2022, the average base metal hook import price amounted to $X per ton, remaining stable against the previous year. In general, the import price recorded a pronounced contraction. The most prominent rate of growth was recorded in 2015 an increase of 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Turkey ($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 Netherlands (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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