Oman: Metal Screw Hook Market 2024

Metal Screw Hook Market Size in Oman

The Omani metal screw hook market soared to $X in 2022, increasing by 88% 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 recorded a significant expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Metal Screw Hook Exports

Exports from Oman

In 2022, after three years of decline, there was significant growth in overseas shipments of iron or steel screw hooks and screw rings, when their volume increased by 602% to X kg. Overall, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 1,314% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, metal screw hook exports skyrocketed to $X in 2022. In general, exports, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 744%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X kg) was the main destination for metal screw hook exports from Oman, with a 66% share of total exports. Moreover, metal screw hook exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X kg), threefold. The third position in this ranking was taken by Tanzania (X kg), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-27.1% per year) and Tanzania (+37.4% per year).

In value terms, Germany ($X), the United Arab Emirates ($X) and Qatar ($X) appeared to be the largest markets for metal screw hook exported from Oman worldwide, with a combined 90% share of total exports. These countries were followed by Tanzania, which accounted for a further 10%.

Tanzania, with a CAGR of +21.7%, 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 screw hook export price amounted to $X per ton, shrinking by -53.7% against the previous year. Over the period under review, the export price, however, showed a slight expansion. The pace of growth was the most pronounced in 2021 an increase of 112%. As a result, the export price attained the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the United Arab Emirates ($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 Germany (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Screw Hook Imports

Imports into Oman

After three years of decline, supplies from abroad of iron or steel screw hooks and screw rings increased by 150% to X tons in 2022. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 382%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, metal screw hook imports soared to $X in 2022. Overall, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 253%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal screw hook supplier to Oman, accounting for a 65% share of total imports. Moreover, metal screw hook imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Singapore (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+20.1% per year) and Singapore (+36.3% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel screw hooks and screw rings to Oman, comprising 48% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total imports. It was followed by Italy, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+21.9% per year) and Italy (-2.8% per year).

Import Prices by Country

In 2022, the average metal screw hook import price amounted to $X per ton, waning by -46.2% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2016 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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