Oman: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Oman

For the fourth consecutive year, the Omani flat-rolled steel products market recorded growth in sales value, which increased by 41% to $X in 2021. Overall, consumption showed strong growth. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Flat-Rolled Steel Products Exports

Exports from Oman

After two years of decline, overseas shipments of flat-rolled products of iron or non-alloy steel increased by 217% to X tons in 2021. In general, exports, however, recorded a significant curtailment. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, flat-rolled steel products exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a sharp descent. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Yemen (X tons) and the United Arab Emirates (X tons) were the main destinations of flat-rolled steel products exports from Oman, with a combined 82% share of total exports. India, Saudi Arabia and Somalia lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +3.4%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), Qatar ($X) and Yemen ($X) were the largest markets for flat-rolled steel products exported from Oman worldwide, with a combined 73% share of total exports. India, Somalia and Saudi Arabia lagged somewhat behind, together comprising a further 26%.

Among the main countries of destination, Somalia, with a CAGR of +6.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, reducing by -22.7% against the previous year. Overall, the export price continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2015 an increase of 51%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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 Somalia ($X per ton), while the average price for exports to Qatar ($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 Somalia (+23.1%), while the prices for the other major destinations experienced mixed trend patterns.

Flat-Rolled Steel Products Imports

Imports into Oman

In 2021, approx. X tons of flat-rolled products of iron or non-alloy steel were imported into Oman; with an increase of 10% compared with 2020 figures. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +151.5% against 2015 indices. The pace of growth was the most pronounced in 2016 with an increase of 65%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, flat-rolled steel products imports skyrocketed to $X in 2021. Overall, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest flat-rolled steel products supplier to Oman, accounting for a 38% share of total imports. Moreover, flat-rolled steel products imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.1% per year) and India (-0.3% per year).

In value terms, Japan ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to Oman, comprising 40% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.3% per year) and the United Arab Emirates (+7.5% per year).

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2021, with an increase of 41% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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