Oman: Non-Metal Permanent Magnet Market 2025

Non-Metal Permanent Magnet Market Size in Oman

In 2021, after five years of growth, there was decline in the Omani non-metal permanent magnet market, when its value decreased by -2.4% to $X. In general, consumption recorded a strong increase. Non-metal permanent magnet consumption peaked at $X in 2020, and then fell slightly in the following year.

Non-Metal Permanent Magnet Production in Oman

In value terms, non-metal permanent magnet production contracted modestly to $X in 2021 estimated in export price. In general, production continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 90%. Over the period under review, production hit record highs at $X in 2020, and then contracted modestly in the following year.

Non-Metal Permanent Magnet Exports

Exports from Oman

In 2021, overseas shipments of non-metal permanent magnets decreased by -76.9% to X kg, falling for the fourth consecutive year after three years of growth. Overall, exports showed a sharp descent. The most prominent rate of growth was recorded in 2013 with an increase of 50%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, non-metal permanent magnet exports contracted sharply to $X in 2021. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 44%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Qatar (X kg) was the main destination for non-metal permanent magnet exports from Oman, accounting for a 62% share of total exports. Moreover, non-metal permanent magnet exports to Qatar exceeded the volume sent to the second major destination, Russia (X kg), threefold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Qatar totaled -15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and the United Arab Emirates (-19.2% per year).

In value terms, Qatar ($X) remains the key foreign market for non-metal permanent magnets exports from Oman, comprising 60% of total exports. The second position in the ranking was held by Russia ($X), with an 8.1% share of total exports. It was followed by the United Arab Emirates, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value to Qatar totaled -12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (0.0% per year) and the United Arab Emirates (-7.5% per year).

Export Prices by Country

The average non-metal permanent magnet export price stood at $X per ton in 2021, increasing by 41% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Germany ($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 (+55.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Metal Permanent Magnet Imports

Imports into Oman

In 2021, purchases abroad of non-metal permanent magnets increased by 95% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a pronounced slump. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, non-metal permanent magnet imports soared to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 104% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest non-metal permanent magnet supplier to Oman, accounting for a 72% share of total imports. Moreover, non-metal permanent magnet imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X kg), ninefold. China (X kg) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.5% per year) and China (-21.2% per year).

In value terms, the United Arab Emirates ($X), Austria ($X) and the United States ($X) were the largest non-metal permanent magnet suppliers to Oman, with a combined 66% share of total imports.

In terms of the main suppliers, Austria, with a CAGR of +62.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average non-metal permanent magnet import price stood at $X per ton in 2021, falling by -22.8% against the previous year. Over the period under review, the import price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 186% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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