Oman: Metal Rivet Market 2024

Metal Rivet Market Size in Oman

The Omani metal rivet market skyrocketed to $X in 2022, rising by 34% 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). Over the period under review, consumption, however, showed a slight descent. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Metal Rivet Exports

Exports from Oman

In 2022, after two years of decline, there was significant growth in shipments abroad of iron or steel rivets, when their volume increased by 50% to X tons. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 2,501% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal rivet exports skyrocketed to $X in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,621% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for metal rivet exports from Oman, accounting for a 74% share of total exports. Moreover, metal rivet exports to Yemen exceeded the volume sent to the second major destination, Qatar (X kg), fivefold. The third position in this ranking was held by the United Arab Emirates (X kg), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Yemen stood at +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+52.1% per year) and the United Arab Emirates (+36.4% per year).

In value terms, Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the largest markets for metal rivet exported from Oman worldwide, together accounting for 85% of total exports.

The United Arab Emirates, with a CAGR of +53.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average metal rivet export price amounted to $X per ton, picking up by 4.2% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal rivet export price increased by +70.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 38% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+12.8%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Rivet Imports

Imports into Oman

In 2022, approx. X tons of iron or steel rivets were imported into Oman; jumping by 26% on the previous year's figure. In general, imports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 723%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, metal rivet imports skyrocketed to $X in 2022. Overall, imports recorded mild growth. The growth pace was the most rapid in 2020 when imports increased by 469% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal rivet supplier to Oman, accounting for a 85% share of total imports. Moreover, metal rivet imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +9.3%.

In value terms, China ($X) constituted the largest supplier of iron or steel rivets to Oman, comprising 72% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +18.5%.

Import Prices by Country

The average metal rivet import price stood at $X per ton in 2022, rising by 18% against the previous year. Over the period under review, the import price showed temperate growth. The pace of growth was the most pronounced in 2016 an increase of 55%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 the United Arab Emirates ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.1%).

Source: IndexBox Platform

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