Oman: Market for Copper Bars, Rods and Profiles 2024

Market Size for Copper Bars, Rods and Profiles in Oman

The Omani market for copper bars, rods and profiles dropped to $X in 2022, with a decrease of -13.5% 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). Overall, consumption faced a precipitous setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Copper Bars, Rods and Profiles

Exports from Oman

In 2022, overseas shipments of copper bars, rods and profiles were finally on the rise to reach X kg for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, showed a sharp descent. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper bar, rod and profile exports surged to $X in 2022. In general, exports, however, saw a precipitous setback. The pace of growth appeared the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Pakistan (X kg), the United Arab Emirates (X kg) and Saudi Arabia (X kg) were the main destinations of copper bar, rod and profile exports from Oman, with a combined 83% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of -31.8%), while the other leaders experienced a decline.

In value terms, Pakistan ($X) remains the key foreign market for copper bars, rods and profiles exports from Oman, comprising 60% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Saudi Arabia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Pakistan totaled -46.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-30.8% per year) and Saudi Arabia (-44.8% per year).

Export Prices by Country

The average export price for copper bars, rods and profiles stood at $X per ton in 2022, waning by -18.4% against the previous year. Overall, the export price saw a noticeable shrinkage. The pace of growth was the most pronounced in 2017 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 India ($X per ton), while the average price for exports to Yemen ($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 Bahrain (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Rods and Profiles

Imports into Oman

In 2022, copper bar, rod and profile imports into Oman fell to X tons, with a decrease of -3.9% against 2021 figures. In general, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2013 with an increase of 42% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, copper bar, rod and profile imports shrank dramatically to $X in 2022. Overall, imports recorded a dramatic slump. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of copper bar, rod and profile to Oman, accounting for a 51% share of total imports. Moreover, copper bar, rod and profile imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. India (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at -21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-28.6% per year) and India (-25.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of copper bars, rods and profiles to Oman, comprising 61% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports. It was followed by Belgium, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to -22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-22.7% per year) and Belgium (-34.4% per year).

Import Prices by Country

The average import price for copper bars, rods and profiles stood at $X per ton in 2022, reducing by -13.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 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 India ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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