Oman: Granite Building Stone Market 2024

Granite Building Stone Market Size in Oman

The Omani granite building stone market reduced rapidly to $X in 2021, which is down by -35.8% 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, however, posted a tangible increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Granite Building Stone Exports

Exports from Oman

In 2021, approx. X tons of granite building stone were exported from Oman; dropping by -36.2% on 2020. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 354%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, granite building stone exports contracted to $X in 2021. Overall, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 246% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) was the main destination for granite building stone exports from Oman, with a 45% share of total exports. Moreover, granite building stone exports to Malaysia exceeded the volume sent to the second major destination, Jordan (X tons), fivefold. Mexico (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+1.3% per year) and Mexico (+11.6% per year).

In value terms, the largest markets for granite building stone exported from Oman were Malaysia ($X), the United States ($X) and Jordan ($X), together accounting for 42% of total exports. Mexico, the United Arab Emirates, Singapore, South Korea, New Zealand, Palestine, Qatar, Kuwait, Australia and Yemen lagged somewhat behind, together comprising a further 53%.

In terms of the main countries of destination, New Zealand, with a CAGR of +61.9%, recorded 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

The average granite building stone export price stood at $X per ton in 2021, increasing by 55% against the previous year. Overall, the export price saw buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Yemen ($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 Qatar (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Building Stone Imports

Imports into Oman

In 2021, the amount of granite building stone imported into Oman fell dramatically to X tons, which is down by -33.5% against the year before. Over the period under review, imports, however, posted temperate growth. The pace of growth was the most pronounced in 2013 with an increase of 57%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, granite building stone imports reduced sharply to $X in 2021. Overall, imports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of granite building stone imports to Oman, with a combined 90% share of total imports. South Korea, Singapore and Iran lagged somewhat behind, together accounting for a further 6.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +36.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest granite building stone suppliers to Oman were the United Arab Emirates ($X), India ($X) and China ($X), with a combined 85% share of total imports. South Korea, Singapore and Iran lagged somewhat behind, together comprising a further 3.1%.

In terms of the main suppliers, South Korea, with a CAGR of +31.8%, recorded the highest growth rate of 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 granite building stone import price amounted to $X per ton, shrinking by -4.1% against the previous year. In general, the import price saw a slight descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Iran ($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 (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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