Oman: Metal Link Chain Market 2024

Metal Link Chain Market Size in Oman

The Omani metal link chain market declined markedly to $X in 2021, waning by -51.5% 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 significant expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Metal Link Chain Exports

Exports from Oman

Metal link chain exports from Oman shrank dramatically to X tons in 2021, falling by -38.6% compared with the year before. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 3,523%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal link chain exports dropped significantly to $X in 2021. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 3,752%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for metal link chain exports from Oman, accounting for a 77% share of total exports. Moreover, metal link chain exports to India exceeded the volume sent to the second major destination, Yemen (X kg), fivefold. The third position in this ranking was held by the United Arab Emirates (X kg), with a 3.4% share.

From 2012 to 2021, the average annual growth rate of volume to India stood at +81.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+8.4% per year) and the United Arab Emirates (+1.2% per year).

In value terms, India ($X) remains the key foreign market for iron or steel articulated link chain exports from Oman, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.8% share of total exports. It was followed by Yemen, with a 1.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to +56.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-3.9% per year) and Yemen (-22.2% per year).

Export Prices by Country

The average metal link chain export price stood at $X per ton in 2021, with a decrease of -46.2% against the previous year. In general, the export price recorded a noticeable decrease. The pace of growth was the most pronounced in 2016 when the average export price increased by 28%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while the average price for exports to Yemen ($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 the United Arab Emirates (-4.9%), while the prices for the other major destinations experienced a decline.

Metal Link Chain Imports

Imports into Oman

In 2021, approx. X tons of iron or steel articulated link chain were imported into Oman; shrinking by -51.9% compared with 2020 figures. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 566% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, metal link chain imports shrank notably to $X in 2021. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 515% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of metal link chain to Oman, with a 82% share of total imports. Moreover, metal link chain imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +49.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+16.6% per year) and China (+12.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of iron or steel articulated link chain to Oman, comprising 73% of total imports. The second position in the ranking was taken by China ($X), with a 3.9% share of total imports. It was followed by Saudi Arabia, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates amounted to +43.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.7% per year) and Saudi Arabia (+2.9% per year).

Import Prices by Country

In 2021, the average metal link chain import price amounted to $X per ton, rising by 4% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 an increase of 78% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Saudi Arabia ($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 (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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