Oman: Bar Draw-Bench Market 2024

Bar Draw-Bench Market Size in Oman

The Omani bar draw-bench market plummeted to $X in 2021, dropping by -38.5% against the previous year. Overall, consumption recorded a precipitous decrease. Bar draw-bench consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Bar Draw-Bench Production in Oman

In value terms, bar draw-bench production declined to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 6% against the previous year. Bar draw-bench production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Bar Draw-Bench Exports

Exports from Oman

After three years of growth, shipments abroad of draw-benches for bars, tubes, profiles, wire or the like decreased by -38.3% to X units in 2021. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 117% against the previous year. Over the period under review, the exports reached the maximum at X units in 2020, and then fell dramatically in the following year.

In value terms, bar draw-bench exports declined rapidly to $X in 2021. Overall, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 154% against the previous year. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Saudi Arabia (X units) was the main destination for bar draw-bench exports from Oman, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia stood at +28.0%.

In value terms, Saudi Arabia ($X) remains the key foreign market for draw-benches for bars, tubes, profiles, wire or the like exports from Oman, comprising 100% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia stood at +30.0%.

Export Prices by Country

The average bar draw-bench export price stood at $X per unit in 2021, with an increase of 19% against the previous year. Overall, the export price, however, showed a abrupt descent. The pace of growth was the most pronounced in 2020 when the average export price increased by 22%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to the United Arab Emirates stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+1.8%).

Bar Draw-Bench Imports

Imports into Oman

In 2021, approx. X units of draw-benches for bars, tubes, profiles, wire or the like were imported into Oman; waning by -81% compared with the year before. Overall, imports showed a sharp curtailment. The growth pace was the most rapid in 2016 when imports increased by 412% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, bar draw-bench imports declined sharply to $X in 2021. In general, imports recorded a sharp decline. The growth pace was the most rapid in 2016 with an increase of 633%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest bar draw-bench supplier to Oman, with a 50% share of total imports. Moreover, bar draw-bench imports from Italy exceeded the figures recorded by the second-largest supplier, Tanzania (X units), fourfold. The third position in this ranking was taken by India (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled -39.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Tanzania (0.0% per year) and India (-30.1% per year).

In value terms, Italy ($X) constituted the largest supplier of draw-benches for bars, tubes, profiles, wire or the like to Oman, comprising 38% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.7% share of total imports. It was followed by Turkey, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to -48.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-53.5% per year) and Turkey (-30.6% per year).

Import Prices by Country

The average bar draw-bench import price stood at $X per unit in 2021, reducing by -42.8% against the previous year. Overall, the import price saw a deep downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 46%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+33.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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