Oman: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Oman

In 2022, the Omani stone polishing machine market increased by 134% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption posted mild growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Stone Polishing Machine Exports

Exports from Oman

For the third year in a row, Oman recorded decline in overseas shipments of grinding or polishing machines for working stone, ceramics and concrete, which decreased by -12.5% to X units in 2022. Over the period under review, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 117%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports shrank to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 539% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Pakistan (X units), Yemen (X units) and the United Arab Emirates (X units) were the main destinations of stone polishing machine exports from Oman, with a combined 86% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +11.6%), while the other leaders experienced a decline.

In value terms, Yemen ($X) remains the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Oman, comprising 64% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports. It was followed by Qatar, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Yemen amounted to +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-11.5% per year) and Qatar (-7.7% per year).

Export Prices by Country

The average stone polishing machine export price stood at $X per unit in 2022, rising by 3.4% against the previous year. In general, the export price posted strong growth. The pace of growth appeared the most rapid in 2017 an increase of 195% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Yemen ($X per unit), while the average price for exports to Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+81.6%), while the prices for the other major destinations experienced more modest paces of growth.

Stone Polishing Machine Imports

Imports into Oman

In 2022, after three years of decline, there was significant growth in purchases abroad of grinding or polishing machines for working stone, ceramics and concrete, when their volume increased by 63% to X units. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 260% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, stone polishing machine imports surged to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 200% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) constituted the largest stone polishing machine supplier to Oman, accounting for a 36% share of total imports. Moreover, stone polishing machine imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X units), twofold. Jordan (X units) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+14.9% per year) and Jordan (+14.9% per year).

In value terms, China ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the largest stone polishing machine suppliers to Oman, with a combined 76% share of total imports. Jordan, the UK, India, Bahrain, Spain, France, Italy and Germany lagged somewhat behind, together comprising a further 17%.

In terms of the main suppliers, India, with a CAGR of +44.0%, recorded the highest rates of growth with regard to 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

The average stone polishing machine import price stood at $X per unit in 2022, rising by 57% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 China ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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