Oman: Marble Building Stone Market 2024

Marble Building Stone Market Size in Oman

For the third consecutive year, the Omani marble building stone market recorded growth in sales value, which increased by 0.5% to $X in 2021. Overall, consumption saw a resilient expansion. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the immediate term.

Marble Building Stone Production in Oman

In value terms, marble building stone production declined to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 29% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Marble Building Stone Exports

Exports from Oman

In 2021, exports of marble building stone from Oman surged to X tons, jumping by 38% compared with the year before. In general, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +99.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 44%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, marble building stone exports surged to $X in 2021. Overall, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.1% against 2019 indices. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and South Korea (X tons) were the main destinations of marble building stone exports from Oman, with a combined 72% share of total exports. These countries were followed by Qatar, Iraq, Kuwait, Palestine, Jordan, Libya, China, India and Singapore, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +29.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for marble building stone exported from Oman were Saudi Arabia ($X), the United Arab Emirates ($X) and South Korea ($X), with a combined 70% share of total exports. Qatar, Kuwait, India, Iraq, Libya, Palestine, China, Jordan and Singapore lagged somewhat behind, together accounting for a further 21%.

Among the main countries of destination, Kuwait, with a CAGR of +26.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average marble building stone export price amounted to $X per ton, dropping by -8.1% against the previous year. Overall, the export price saw a deep downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 11%. 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 by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Jordan ($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 India (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Marble Building Stone Imports

Imports into Oman

After two years of decline, overseas purchases of marble building stone increased by 41% to X tons in 2021. In general, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 107% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, marble building stone imports soared to $X in 2021. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +38.8% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 116%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest marble building stone supplier to Oman, accounting for a 48% share of total imports. Moreover, marble building stone imports from Turkey exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. Vietnam (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-0.3% per year) and Vietnam (+34.3% per year).

In value terms, the largest marble building stone suppliers to Oman were Turkey ($X), the United Arab Emirates ($X) and Vietnam ($X), together comprising 71% of total imports.

Vietnam, with a CAGR of +39.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average marble building stone import price stood at $X per ton in 2021, reducing by -10.4% against the previous year. Over the period under review, the import price saw a mild downturn. The pace of growth was the most pronounced in 2020 an increase of 26% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :