Oman: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Oman

The Omani polypropylene in primary forms market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption showed a strong increase. Polypropylene in primary forms consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Polypropylene in Primary Forms in Oman

In value terms, polypropylene in primary forms production contracted slightly to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 79%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Polypropylene in Primary Forms

Exports from Oman

After two years of growth, overseas shipments of polypropylene in primary forms decreased by -29.5% to X tons in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 145% against the previous year. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, polypropylene in primary forms exports reduced dramatically to $X in 2022. Overall, exports, however, continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 129% against the previous year. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

China (X tons), India (X tons) and Turkey (X tons) were the main destinations of polypropylene in primary forms exports from Oman, with a combined 46% share of total exports. The United Arab Emirates, Vietnam, Pakistan, Bangladesh, Egypt, Brazil, the United States, Myanmar, Qatar and Thailand lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +68.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polypropylene in primary forms exported from Oman were China ($X), Turkey ($X) and India ($X), with a combined 45% share of total exports. The United Arab Emirates, Pakistan, Vietnam, Bangladesh, Egypt, Brazil, Qatar, the United States, Myanmar and Thailand lagged somewhat behind, together comprising a further 41%.

The United States, with a CAGR of +46.3%, saw the highest growth rate of 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 polypropylene in primary forms export price stood at $X per ton in 2022, increasing by 1.9% against the previous year. In general, the export price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 12%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Thailand ($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 Brazil (-1.1%), while the prices for the other major destinations experienced a decline.

Imports of Polypropylene in Primary Forms

Imports into Oman

In 2022, the amount of polypropylene in primary forms imported into Oman rose rapidly to X tons, with an increase of 12% on 2021. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, polypropylene in primary forms imports fell to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 21% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and South Korea (X tons) were the main suppliers of polypropylene in primary forms imports to Oman, with a combined 96% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +19.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polypropylene in primary forms suppliers to Oman were the United Arab Emirates ($X), Saudi Arabia ($X) and South Korea ($X), together accounting for 95% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +18.7%, 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

The average polypropylene in primary forms import price stood at $X per ton in 2022, waning by -16.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 43%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Saudi Arabia ($X per ton) and South Korea ($X per ton), while the price for the Netherlands ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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