Oman: Plastic Bag Market 2024

Plastic Bag Market Size in Oman

The Omani plastic bag market surged to $X in 2022, jumping by 15% against the previous year. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value 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. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plastic Bag Production in Oman

In value terms, plastic bag production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 -2.5% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 83%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Plastic Bag Exports

Exports from Oman

In 2022, the amount of plastic sacks and bags exported from Oman fell significantly to X tons, reducing by -57% on the previous year's figure. Overall, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by 154% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, plastic bag exports reduced dramatically to $X in 2022. Over the period under review, exports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2019 with an increase of 128% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Somalia (X tons), the United Arab Emirates (X tons) and Djibouti (X tons) were the main destinations of plastic bag exports from Oman, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Somalia (with a CAGR of +61.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Somalia ($X) remains the key foreign market for plastic sacks and bags exports from Oman, comprising 73% of total exports. The second position in the ranking was taken by Djibouti ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Somalia amounted to +86.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Djibouti (+51.1% per year) and the United Arab Emirates (-1.6% per year).

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, with an increase of 95% against the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Somalia ($X per ton), while the average price for exports to the United Arab Emirates ($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 South Africa (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Oman

In 2022, plastic bag imports into Oman expanded to X tons, growing by 4.5% compared with 2021. In general, imports saw buoyant growth. The growth pace was the most rapid in 2014 when imports increased by 57%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, plastic bag imports shrank modestly to $X in 2022. Over the period under review, imports enjoyed a strong increase. The growth pace was the most rapid in 2013 when imports increased by 42%. Imports peaked at $X in 2021, and then contracted slightly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest plastic bag supplier to Oman, with a 53% share of total imports. Moreover, plastic bag imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Saudi Arabia (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.0% per year) and Saudi Arabia (+33.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of plastic sacks and bags to Oman, comprising 44% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an 18% share of total imports. It was followed by India, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+37.1% per year) and India (+12.2% per year).

Import Prices by Country

The average plastic bag import price stood at $X per ton in 2022, dropping by -8.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Saudi Arabia ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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