Oman: Granite Block Market 2024

Granite Block Market Size in Oman

The Omani granite block market skyrocketed to $X in 2022, picking up by 63% against the previous year. In general, consumption, however, recorded a buoyant increase. Granite block consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Granite Block Production in Oman

In value terms, granite block production amounted to less than $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern.

Granite Block Exports

Exports from Oman

In 2022, exports of granite blocks and slabs from Oman rose notably to X tons, picking up by 14% compared with the year before. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 277% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, granite block exports rose sharply to $X in 2022. In general, exports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 131%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for granite block exports from Oman, accounting for a 76% share of total exports. Moreover, granite block exports to Qatar exceeded the volume sent to the second major destination, the UK (X tons), sixfold. The third position in this ranking was held by Australia (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-1.7% per year) and Australia (+15.6% per year).

In value terms, the UK ($X) remains the key foreign market for granite blocks and slabs exports from Oman, comprising 63% of total exports. The second position in the ranking was held by Australia ($X), with a 20% share of total exports. It was followed by Qatar, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to -16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-4.8% per year) and Qatar (-10.7% per year).

Export Prices by Country

The average granite block export price stood at $X per ton in 2022, reducing by -1.6% against the previous year. In general, the export price recorded a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of 439% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Qatar ($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 the United Arab Emirates (-7.4%), while the prices for the other major destinations experienced a decline.

Granite Block Imports

Imports into Oman

In 2022, the amount of granite blocks and slabs imported into Oman fell sharply to X tons, waning by -99.8% on the previous year. Over the period under review, imports continue to indicate a precipitous contraction. The pace of growth was the most pronounced in 2020 with an increase of 103% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, granite block imports declined rapidly to $X in 2022. In general, imports faced a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 173% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X kg), India (X kg) and Iran (X kg) were the main suppliers of granite block imports to Oman, together comprising 72% of total imports. Pakistan, China, Sri Lanka and Saudi Arabia lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of -6.4%), while imports for the other leaders experienced a decline.

In value terms, the largest granite block suppliers to Oman were the United Arab Emirates ($X), India ($X) and Iran ($X), together accounting for 78% of total imports. Saudi Arabia, China, Sri Lanka and Pakistan lagged somewhat behind, together accounting for a further 22%.

Among the main suppliers, Pakistan, with a CAGR of -12.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average granite block import price amounted to $X per ton, with an increase of 464% against the previous year. Overall, the import price continues to indicate a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+27.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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