Oman: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Oman

The Omani reclaimed rubber market skyrocketed to $X in 2021, with an increase of 16% against the previous year. Over the period under review, consumption showed strong growth. Reclaimed rubber consumption peaked in 2021 and is likely to continue growth in years to come.

Reclaimed Rubber Production in Oman

In value terms, reclaimed rubber production dropped to $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.0% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 86% against the previous year. Reclaimed rubber production peaked at $X in 2020, and then declined slightly in the following year.

Reclaimed Rubber Exports

Exports from Oman

In 2021, exports of reclaimed rubber from Oman skyrocketed to X tons, increasing by 569% on the year before. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 1,105% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, reclaimed rubber exports soared to $X in 2021. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for reclaimed rubber exports from Oman, with a 64% share of total exports. Moreover, reclaimed rubber exports to India exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold.

From 2019 to 2021, the average annual growth rate of volume to India stood at +2,652.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+3,761.4% per year) and Pakistan (+85.0% per year).

In value terms, the largest markets for reclaimed rubber exported from Oman were India ($X), the United Arab Emirates ($X) and Pakistan ($X), together accounting for 96% of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +991.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, waning by -55.7% against the previous year. Overall, the export price continues to indicate a dramatic downturn. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2019 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-71.8%), while the prices for the other major destinations experienced a decline.

Reclaimed Rubber Imports

Imports into Oman

In 2021, the amount of reclaimed rubber imported into Oman soared to X tons, increasing by 24% compared with 2020. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 167% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, reclaimed rubber imports expanded significantly to $X in 2021. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 121% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest reclaimed rubber supplier to Oman, with a 61% share of total imports. Moreover, reclaimed rubber imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. China (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +47.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+75.7% per year) and China (+15.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of reclaimed rubber to Oman, comprising 64% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports. It was followed by Italy, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +49.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+27.0% per year) and Italy (+50.4% per year).

Import Prices by Country

The average reclaimed rubber import price stood at $X per ton in 2021, waning by -10.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 22% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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