Oman: Base Metal Keys Market 2025

Base Metal Keys Market Size in Oman

In 2022, the Omani base metal keys market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption, however, saw a pronounced decrease. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Base Metal Keys Exports

Exports from Oman

In 2022, overseas shipments of base metal keys decreased by -20.5% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 284% against the previous year. As a result, the exports reached the peak of X kg. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, base metal keys exports shrank to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 282% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X kg) was the main destination for base metal keys exports from Oman, with a 79% share of total exports. Moreover, base metal keys exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold. The Netherlands (X kg) ranked third in terms of total exports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar totaled +48.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+11.6% per year) and the Netherlands (+7.2% per year).

In value terms, Qatar ($X) remains the key foreign market for base metal keys exports from Oman, comprising 52% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 19% share of total exports. It was followed by the United Arab Emirates, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Qatar totaled +35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+74.2% per year) and the United Arab Emirates (+40.8% per year).

Export Prices by Country

In 2022, the average base metal keys export price amounted to $X per ton, growing by 8.3% against the previous year. Overall, the export price recorded resilient growth. The growth pace was the most rapid in 2014 when the average export price increased by 140%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Ireland ($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 Yemen (+586.8%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Keys Imports

Imports into Oman

In 2022, purchases abroad of base metal keys increased by 21% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2017 with an increase of 987%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, base metal keys imports stood at $X in 2022. Overall, imports, however, recorded a slight setback. The pace of growth was the most pronounced in 2017 when imports increased by 765%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest base metal keys supplier to Oman, accounting for a 60% share of total imports. Moreover, base metal keys imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by Germany (X kg), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+30.5% per year) and Germany (-2.1% per year).

In value terms, the largest base metal keys suppliers to Oman were the United Arab Emirates ($X), South Korea ($X) and Thailand ($X), with a combined 73% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +41.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average base metal keys import price stood at $X per ton in 2022, with a decrease of -16.6% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal keys import price decreased by -22.2% against 2020 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 37% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :