Oman: Isocyanates Market 2024

Isocyanates Market Size in Oman

In 2022, the Omani isocyanates market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption enjoyed a resilient expansion. Isocyanates consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Isocyanates Production in Oman

In value terms, isocyanates production declined to $X in 2022 estimated in export price. Overall, production saw a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Isocyanates Exports

Exports from Oman

In 2022, shipments abroad of isocyanates decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, exports showed a perceptible slump. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, isocyanates exports contracted significantly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at $X in 2021, and then shrank significantly in the following year.

Exports by Country

Somalia (X tons), India (X tons) and the United Arab Emirates (X tons) were the main destinations of isocyanates exports from Oman.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Somalia (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, India ($X), Somalia ($X) and the United Arab Emirates ($X) appeared to be the largest markets for isocyanates exported from Oman worldwide.

Among the main countries of destination, Somalia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price posted resilient growth. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, 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 India ($X per ton), while the average price for exports to the United Arab Emirates ($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 Yemen (X%), while the prices for the other major destinations experienced mixed trend patterns.

Isocyanates Imports

Imports into Oman

In 2022, the amount of isocyanates imported into Oman fell to X tons, shrinking by X% on the year before. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, isocyanates imports plummeted to $X in 2022. Over the period under review, imports recorded a noticeable descent. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X tons) constituted the largest isocyanates supplier to Oman, accounting for a X% share of total imports. Moreover, isocyanates imports from South Korea exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Japan (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of isocyanates to Oman, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Japan (X% per year).

Import Prices by Country

The average isocyanates import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 the United Arab Emirates ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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