Oman: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Oman

The Omani market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X in 2022, picking up by 9.3% against the previous year. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.2% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Oman

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium expanded notably to $X in 2022 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.4% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 60% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a somewhat lower figure.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Oman

In 2022, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Oman fell to X tons, declining by -7.6% against 2021. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 291%. Over the period under review, the exports of reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium declined dramatically to $X in 2022. Overall, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 328% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2021, and then dropped notably in the following year.

Exports by Country

Free Zones (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Oman, with a 49% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Free Zones exceeded the volume sent to the second major destination, Qatar (X tons), twofold. The third position in this ranking was taken by Kuwait (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones amounted to +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+28.7% per year) and Kuwait (-5.5% per year).

In value terms, Free Zones ($X) remains the key foreign market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exports from Oman, comprising 43% of total exports. The second position in the ranking was taken by Qatar ($X), with a 17% share of total exports. It was followed by Saudi Arabia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to +21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+59.1% per year) and Saudi Arabia (+21.8% per year).

Export Prices by Country

In 2022, the average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, falling by -11.7% against the previous year. Overall, the export price, however, showed prominent growth. The pace of growth was the most pronounced in 2021 an increase of 52%. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Yemen ($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 Saudi Arabia (+25.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Oman

In 2022, supplies from abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -26.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 307% against the previous year. Imports peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium fell rapidly to $X in 2022. Overall, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 115%. Over the period under review, imports of hit record highs at $X in 2021, and then contracted dramatically in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier to Oman, accounting for a 90% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. The third position in this ranking was held by Saudi Arabia (X tons), with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+38.1% per year) and Saudi Arabia (+30.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Oman, comprising 81% of total imports. The second position in the ranking was taken by Italy ($X), with a 4.3% share of total imports. It was followed by Saudi Arabia, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+38.7% per year) and Saudi Arabia (+20.1% per year).

Import Prices by Country

The average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, rising by 2% against the previous year. Over the period under review, the import price, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2016 an increase of 14%. 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.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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