Oman: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Oman

For the third consecutive year, the Omani expansible polystyrene market recorded decline in sales value, which decreased by -10% to $X in 2021. Overall, consumption recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Expansible Polystyrene Exports

Exports from Oman

In 2021, the amount of expansible polystyrene in primary forms exported from Oman fell rapidly to X tons, reducing by -27.8% against the previous year's figure. Overall, exports recorded a precipitous curtailment. The growth pace was the most rapid in 2019 when exports increased by 2,281% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, expansible polystyrene exports fell significantly to $X in 2021. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 747%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for expansible polystyrene exports from Oman, with a 59% share of total exports. Moreover, expansible polystyrene exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by Qatar (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen totaled -29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-34.0% per year) and Qatar (-0.3% per year).

In value terms, Yemen ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Oman, comprising 66% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Yemen stood at -20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+51.1% per year) and the United Arab Emirates (-32.9% per year).

Export Prices by Country

The average expansible polystyrene export price stood at $X per ton in 2021, rising by 17% against the previous year. In general, the export price enjoyed a buoyant increase. The growth pace was the most rapid in 2020 an increase of 145% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to the United Arab Emirates ($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 Yemen (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Expansible Polystyrene Imports

Imports into Oman

In 2021, expansible polystyrene imports into Oman contracted rapidly to X tons, with a decrease of -30% against 2020. Overall, imports showed a pronounced downturn. The most prominent rate of growth was recorded in 2013 with an increase of 101%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, expansible polystyrene imports amounted to $X in 2021. In general, imports saw a perceptible slump. The pace of growth appeared the most rapid in 2013 when imports increased by 44% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Pakistan (X tons) and South Korea (X tons) were the main suppliers of expansible polystyrene imports to Oman, with a combined 73% share of total imports. These countries were followed by China, Iran, Turkey and Taiwan (Chinese), which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +39.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Pakistan ($X) and South Korea ($X) appeared to be the largest expansible polystyrene suppliers to Oman, with a combined 78% share of total imports. These countries were followed by China, Iran, Turkey and Taiwan (Chinese), which together accounted for a further 18%.

In terms of the main suppliers, Iran, with a CAGR of +14.9%, recorded the highest rates of growth with regard to the value of imports, 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 expansible polystyrene import price amounted to $X per ton, rising by 45% against the previous year. In general, the import price, however, continues to indicate a perceptible decrease. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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