Oman: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Oman

The Omani pharmaceutical rubber articles market contracted significantly to $X in 2021, shrinking by -22.2% against the previous year. Over the period under review, consumption, however, saw a remarkable increase. As a result, consumption reached the peak level of $X, and then plummeted in the following year.

Pharmaceutical Rubber Articles Production in Oman

In value terms, pharmaceutical rubber articles production fell markedly to $X in 2021 estimated in export price. In general, production, however, showed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 97%. As a result, production attained the peak level of $X, and then reduced dramatically in the following year.

Pharmaceutical Rubber Articles Exports

Exports from Oman

In 2021, shipments abroad of hygienic or pharmaceutical articles of rubber decreased by -75% to X units, falling for the second consecutive year after eight years of growth. Over the period under review, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2014 when exports increased by 361% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, pharmaceutical rubber articles exports contracted dramatically to $X in 2021. Overall, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 292% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Yemen (X units), Qatar (X units) and the United Arab Emirates (X units) were the main destinations of pharmaceutical rubber articles exports from Oman, with a combined 91% share of total exports. Somalia and Iran lagged somewhat behind, together accounting for a further 8.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Somalia (with a CAGR of +124.7%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for hygienic or pharmaceutical articles of rubber exports from Oman, comprising 77% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total exports. It was followed by Yemen, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to Qatar totaled +52.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+88.6% per year) and Yemen (+72.6% per year).

Export Prices by Country

In 2021, the average pharmaceutical rubber articles export price amounted to $X per unit, reducing by -11.2% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pharmaceutical rubber articles export price decreased by -34.0% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 48% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports into Oman

In 2021, approx. X units of hygienic or pharmaceutical articles of rubber were imported into Oman; waning by -41% on 2020. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 172%. Imports peaked at X units in 2020, and then contracted notably in the following year.

In value terms, pharmaceutical rubber articles imports reduced dramatically to $X in 2021. Over the period under review, imports, however, showed a significant increase. The growth pace was the most rapid in 2014 with an increase of 210%. Over the period under review, imports hit record highs at $X in 2020, and then declined dramatically in the following year.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of pharmaceutical rubber articles to Oman, with a 70% share of total imports. Moreover, pharmaceutical rubber articles imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Qatar (X units), more than tenfold. Sri Lanka (X units) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+32.2% per year) and Sri Lanka (+7.7% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of hygienic or pharmaceutical articles of rubber to Oman, comprising 88% of total imports. The second position in the ranking was taken by Qatar ($X), with a 3.2% share of total imports. It was followed by India, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+3.0% per year) and India (+51.1% per year).

Import Prices by Country

In 2021, the average pharmaceutical rubber articles import price amounted to $X per unit, surging by 3.9% against the previous year. In general, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 120%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

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 the United Arab Emirates ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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