Oman: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Oman

The Omani non-aqueous paint and varnish market rose markedly to $X in 2022, with an increase of 10% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Oman

In value terms, non-aqueous paint and varnish production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a strong increase. The growth pace was the most rapid in 2018 with an increase of 114% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Oman

In 2022, shipments abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted prominent growth. The growth pace was the most rapid in 2018 with an increase of 95%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, non-aqueous paint and varnish exports stood at $X in 2022. Overall, exports posted a prominent increase. The growth pace was the most rapid in 2018 with an increase of 92%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and Yemen (X tons) were the main destinations of non-aqueous paint and varnish exports from Oman, with a combined 96% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of +48.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Oman, comprising 65% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 25% share of total exports. It was followed by Egypt, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Qatar amounted to +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+1.8% per year) and Egypt (+22.2% per year).

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price saw a perceptible downturn. The pace of growth appeared the most rapid in 2017 an increase of 7.9%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Yemen ($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 Egypt (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Oman

In 2022, supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium increased by 17% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 69%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, non-aqueous paint and varnish imports amounted to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 21%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest non-aqueous paint and varnish supplier to Oman, accounting for a 80% share of total imports. Moreover, non-aqueous paint and varnish imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates was relatively modest.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in a non-aqueous medium to Oman, comprising 72% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates was relatively modest.

Import Prices by Country

In 2022, the average non-aqueous paint and varnish import price amounted to $X per ton, shrinking by -7.5% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-aqueous paint and varnish import price increased by +80.9% against 2017 indices. The growth pace was the most rapid in 2020 when the average import price increased by 32%. The import price peaked at $X per ton in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.6%).

Source: IndexBox Platform

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