Oman: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in Oman

The Omani market for lauric acid and other acids, their salts and esters soared to $X in 2021, rising by 77% 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 posted a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports from Oman

In 2021, shipments abroad of lauric acid and other acids, their salts and esters decreased by -31% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2016 with an increase of 312%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, exports of lauric acid and other acids, their salts and esters dropped remarkably to $X in 2021. In general, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 when exports increased by 240% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons) and Iran (X tons) were the main destinations of exports of lauric acid and other acids, their salts and esters from Oman.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of 0.0%).

In value terms, India ($X) remains the key foreign market for lauric acid and other acids, their salts and esters exports from Oman, comprising 79% of total exports. The second position in the ranking was taken by Iran ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to India amounted to -7.1%.

Export Prices by Country

The average export price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, reducing by -5.6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 105% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a 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 Iran stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+2.0%).

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports into Oman

In 2021, the amount of lauric acid and other acids, their salts and esters imported into Oman skyrocketed to X tons, picking up by 53% against the previous year. Over the period under review, imports recorded a strong increase. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. Overall, imports posted perceptible growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest lauric acid and other acids, their salts and esters supplier to Oman, accounting for a 50% share of total imports. Moreover, imports of lauric acid and other acids, their salts and esters from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +48.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+0.6% per year) and Thailand (+44.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of lauric acid and other acids, their salts and esters to Oman, comprising 47% of total imports. The second position in the ranking was held by China ($X), with a 22% share of total imports. It was followed by Switzerland, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+40.3% per year) and Switzerland (+15.1% per year).

Import Prices by Country

The average import price for lauric acid and other acids, their salts and esters stood at $X per ton in 2021, picking up by 7.4% against the previous year. In general, the import price, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 40%. Over the period under review, average import prices attained the maximum 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 Switzerland ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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