Oman: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Oman

The Omani plastic reservoir market declined to $X in 2022, which is down by -2.9% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Reservoir Production in Oman

In value terms, plastic reservoir production soared to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt descent. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Reservoir Exports

Exports from Oman

In 2022, after two years of decline, there was significant growth in shipments abroad of plastic reservoirs, tanks and vats, when their volume increased by 12% to X tons. Over the period under review, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 134% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic reservoir exports rose significantly to $X in 2022. Overall, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2015 with an increase of 111%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for plastic reservoir exports from Oman, accounting for a 66% share of total exports. Moreover, plastic reservoir exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), fivefold. The third position in this ranking was taken by Yemen (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+19.0% per year) and Yemen (+8.3% per year).

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Qatar ($X) constituted the largest markets for plastic reservoir exported from Oman worldwide, with a combined 86% share of total exports.

Qatar, with a CAGR of +138.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, waning by -2% against the previous year. Overall, the export price, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 99%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Yemen ($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 Qatar (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Reservoir Imports

Imports into Oman

In 2022, the amount of plastic reservoirs, tanks and vats imported into Oman contracted modestly to X tons, stabilizing at the previous year's figure. In general, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +1.3% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of 40% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic reservoir imports declined to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 38% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Malaysia (X tons) and South Korea (X tons) were the main suppliers of plastic reservoir imports to Oman, with a combined 91% share of total imports. Italy and China lagged somewhat behind, together comprising a further 7.1%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +24.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Malaysia ($X) and South Korea ($X) were the largest plastic reservoir suppliers to Oman, with a combined 83% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +21.7%, saw 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

In 2022, the average plastic reservoir import price amounted to $X per ton, reducing by -5.7% against the previous year. Overall, the import price showed a pronounced reduction. The pace of growth appeared the most rapid in 2017 when the average import price increased by 29% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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