Oman: Paint And Varnish Market 2024

Paint And Varnish Market Size in Oman

The Omani paint and varnish market rose significantly to $X in 2022, growing by 14% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Paint And Varnish Production in Oman

In value terms, paint and varnish production totaled $X in 2022 estimated in export price. Overall, production, however, saw a slight decline. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Paint And Varnish Exports

Exports from Oman

In 2022, overseas shipments of paints and varnishes decreased by -42.5% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 72%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, paint and varnish exports fell markedly to $X in 2022. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 67%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for paint and varnish exports from Oman, accounting for a 82% share of total exports. Moreover, paint and varnish exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sevenfold. The third position in this ranking was taken by Free Zones (X tons), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar amounted to +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-17.8% per year) and Free Zones (+47.1% per year).

In value terms, Qatar ($X) remains the key foreign market for paints and varnishes exports from Oman, comprising 77% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.3% share of total exports. It was followed by Free Zones, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to Qatar totaled +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-25.9% per year) and Free Zones (+47.8% per year).

Export Prices by Country

In 2022, the average paint and varnish export price amounted to $X per ton, surging by 18% against the previous year. In general, the export price, however, showed a abrupt descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the 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 Free Zones ($X per ton), while the average price for exports to Yemen ($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 Free Zones (+0.4%), while the prices for the other major destinations experienced a decline.

Paint And Varnish Imports

Imports into Oman

Paint and varnish imports into Oman dropped notably to X tons in 2022, waning by -52.5% on the previous year. Over the period under review, imports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 79% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, paint and varnish imports shrank markedly to $X in 2022. In general, imports saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 20%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest paint and varnish supplier to Oman, accounting for a 87% share of total imports. Moreover, paint and varnish imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to -2.8%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of paints and varnishes to Oman, comprising 82% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an 8.4% 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

The average paint and varnish import price stood at $X per ton in 2022, picking up by 23% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 34% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :