Oman: Market for Gravel And Crushed Stone 2024

Market Size for Gravel And Crushed Stone in Oman

In 2021, after four years of decline, there was significant growth in the Omani gravel and crushed stone market, when its value increased by 16% to $X. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Gravel And Crushed Stone in Oman

In value terms, gravel and crushed stone production expanded markedly to $X in 2021 estimated in export price. Overall, production enjoyed buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 61%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Gravel And Crushed Stone

Exports from Oman

In 2021, shipments abroad of gravel and crushed stone decreased by -1% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 602%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, gravel and crushed stone exports totaled $X in 2021. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 270%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for gravel and crushed stone exports from Oman, accounting for a 84% share of total exports. Moreover, gravel and crushed stone exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar stood at +42.9%.

In value terms, Qatar ($X) remains the key foreign market for gravel and crushed stone exports from Oman, comprising 87% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar amounted to +61.7%.

Export Prices by Country

In 2021, the average gravel and crushed stone export price amounted to $X per ton, rising by 4.4% against the previous year. In general, the export price enjoyed mild growth. The growth pace was the most rapid in 2013 when the average export price increased by 67% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+13.4%).

Imports of Gravel And Crushed Stone

Imports into Oman

In 2021, gravel and crushed stone imports into Oman reduced dramatically to X tons, dropping by -60.5% on the previous year. Over the period under review, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 282% against the previous year. Imports peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, gravel and crushed stone imports declined dramatically to $X in 2021. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 120%. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest gravel and crushed stone supplier to Oman, with a 67% share of total imports. Moreover, gravel and crushed stone imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Turkey (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.5% per year) and Turkey (+57.6% per year).

In value terms, the largest gravel and crushed stone suppliers to Oman were the United Arab Emirates ($X), India ($X) and Turkey ($X), together accounting for 87% of total imports. These countries were followed by China and Iran, which together accounted for a further 9.2%.

Iran, with a CAGR of +128.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average gravel and crushed stone import price stood at $X per ton in 2021, rising by 80% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 97%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 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 Turkey ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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