Oman: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Oman

In 2022, the Omani vulcanised rubber seal market increased by 35% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption, however, saw a abrupt decrease. Vulcanised rubber seal consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from Oman

In 2022, after seven years of growth, there was significant decline in overseas shipments of seals of vulcanised rubber, when their volume decreased by -41.3% to X tons. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 592% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted markedly in the following year.

In value terms, vulcanised rubber seal exports shrank to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,080%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

Qatar (X tons) was the main destination for vulcanised rubber seal exports from Oman, with a 85% share of total exports. Moreover, vulcanised rubber seal exports to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X tons), more than tenfold. Bahrain (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar stood at +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-5.8% per year) and Bahrain (+407.5% per year).

In value terms, Qatar ($X) remains the key foreign market for seals of vulcanised rubber exports from Oman, comprising 67% of total exports. The second position in the ranking was taken by China ($X), with a 5.6% share of total exports. It was followed by Bahrain, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar amounted to +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+117.9% per year) and Bahrain (+485.1% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, surging by 46% against the previous year. Over the period under review, the export price recorded a pronounced increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 167%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Saudi Arabia ($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 Bahrain (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Oman

In 2022, imports of seals of vulcanised rubber into Oman totaled X tons, surging by 1.6% compared with the previous year. Overall, imports, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 105% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vulcanised rubber seal imports stood at $X in 2022. Over the period under review, imports, however, showed a slight contraction. The pace of growth was the most pronounced in 2017 when imports increased by 133% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest vulcanised rubber seal supplier to Oman, accounting for a 52% share of total imports. Moreover, vulcanised rubber seal imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-25.3% per year) and China (+2.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of seals of vulcanised rubber to Oman, comprising 44% of total imports. The second position in the ranking was taken by Qatar ($X), with a 10% share of total imports. It was followed by the United States, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+40.9% per year) and the United States (-13.3% per year).

Import Prices by Country

The average vulcanised rubber seal import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price, however, continues to indicate a strong increase. The growth pace was the most rapid in 2014 when the average import price increased by 100% against the previous year. The import price peaked at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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