Oman: Mineral Wool Market 2024

Mineral Wool Market Size in Oman

In 2021, the Omani mineral wool market decreased by -32.5% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption continues to indicate a abrupt decline. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Mineral Wool Exports

Exports from Oman

In 2021, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures decreased by -76.6% to X tons, falling for the third year in a row after three years of growth. In general, exports saw a significant decline. The most prominent rate of growth was recorded in 2016 when exports increased by 232%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, mineral wool exports fell dramatically to $X in 2021. Over the period under review, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2016 with an increase of 144%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal (X tons), Qatar (X tons) and Malaysia (X tons) were the main destinations of mineral wool exports from Oman, together comprising 68% of total exports. Free Zones, Yemen and the United Arab Emirates lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Yemen (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mineral wool exported from Oman were Senegal ($X), Malaysia ($X) and Qatar ($X), with a combined 81% share of total exports. These countries were followed by the United Arab Emirates, Free Zones and Yemen, which together accounted for a further 19%.

In terms of the main countries of destination, Yemen, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 42% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+10.4%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Oman

In 2021, purchases abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by -26.6% to X tons, falling for the third consecutive year after three years of growth. In general, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2014 with an increase of 216% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mineral wool imports shrank significantly to $X in 2021. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2014 when imports increased by 169%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and India (X tons) were the main suppliers of mineral wool imports to Oman, with a combined 83% share of total imports. These countries were followed by Kuwait, Germany, the Czech Republic and Belgium, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +69.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Belgium ($X) were the largest mineral wool suppliers to Oman, with a combined 66% share of total imports. Germany, India, the Czech Republic and Kuwait lagged somewhat behind, together comprising a further 17%.

Kuwait, with a CAGR of +73.5%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, shrinking by -11.2% against the previous year. Overall, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mineral wool import price increased by +61.4% against 2014 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 32%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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