Oman: Market for Granules, Chippings And Powder Of Monumental Stone 2024

Market Size for Granules, Chippings And Powder Of Monumental Stone in Oman

In 2021, after two years of growth, there was significant decline in the Omani market for granules, chippings and powder of monumental stone, when its value decreased by -17.8% to $X. Over the period under review, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Production of Granules, Chippings And Powder Of Monumental Stone in Oman

In value terms, monumental stone granules and powder production fell notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 59% against the previous year. Monumental stone granules and powder production peaked at $X in 2020, and then contracted rapidly in the following year.

Exports of Granules, Chippings And Powder Of Monumental Stone

Exports from Oman

Monumental stone granules and powder exports from Oman declined notably to X tons in 2021, which is down by -70.1% compared with the previous year's figure. Overall, exports showed a dramatic slump. The pace of growth appeared the most rapid in 2015 with an increase of 288%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, monumental stone granules and powder exports fell significantly to $X in 2021. In general, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2015 with an increase of 175%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X tons) was the main destination for monumental stone granules and powder exports from Oman, with a 92% share of total exports. Moreover, monumental stone granules and powder exports to Kuwait exceeded the volume sent to the second major destination, India (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kuwait amounted to -27.6%.

In value terms, Kuwait ($X) remains the key foreign market for granules, chippings and powder of monumental stone exports from Oman, comprising 96% of total exports. The second position in the ranking was held by India ($X), with a 1.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Kuwait amounted to -27.4%.

Export Prices by Country

In 2021, the average export price for granules, chippings and powder of monumental stone amounted to $X per ton, declining by -3.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 64% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to India totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+0.2%).

Imports of Granules, Chippings And Powder Of Monumental Stone

Imports into Oman

In 2021, supplies from abroad of granules, chippings and powder of monumental stone increased by 2.7% to X tons, rising for the fourth consecutive year after two years of decline. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 463%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, monumental stone granules and powder imports dropped modestly to $X in 2021. Over the period under review, imports saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 529% against the previous year. As a result, imports attained the peak of $X, and then reduced modestly in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest monumental stone granules and powder supplier to Oman, accounting for a 50% share of total imports. Moreover, monumental stone granules and powder imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was taken by Iran (X tons), with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +65.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+98.0% per year) and Iran (+100.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of granules, chippings and powder of monumental stone to Oman, comprising 72% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports. It was followed by Iran, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +54.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+107.4% per year) and Iran (+68.6% per year).

Import Prices by Country

The average import price for granules, chippings and powder of monumental stone stood at $X per ton in 2021, dropping by -4.7% against the previous year. In general, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 39%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 India ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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