Oman: Plastic Support Market 2024

Plastic Support Market Size in Oman

In 2022, the Omani plastic support market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, saw a slight decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plastic Support Production in Oman

In value terms, plastic support production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 94% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Plastic Support Exports

Exports from Oman

In 2022, the amount of spools, cops and similar supports of plastics exported from Oman reached X tons, increasing by 11% against the previous year's figure. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 156% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic support exports amounted to $X in 2022. In general, exports posted strong growth. The growth pace was the most rapid in 2017 when exports increased by 97%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for plastic support exports from Oman, with a 85% share of total exports. Moreover, plastic support exports to the United Arab Emirates exceeded the volume sent to the second major destination, Yemen (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+23.2% per year) and Qatar (+10.7% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for spools, cops and similar supports of plastics exports from Oman, comprising 77% of total exports. The second position in the ranking was held by Qatar ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+12.9% per year) and Yemen (+51.6% per year).

Export Prices by Country

In 2022, the average plastic support export price amounted to $X per ton, reducing by -9.6% against the previous year. In general, the export price saw a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 39%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($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 Yemen (+23.0%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Support Imports

Imports into Oman

In 2022, overseas purchases of spools, cops and similar supports of plastics increased by 13% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 82% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic support imports contracted slightly to $X in 2022. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 65% against the previous year. Imports peaked at $X in 2021, and then reduced slightly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of plastic support to Oman, accounting for a 64% share of total imports. Moreover, plastic support imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fourfold. The third position in this ranking was taken by Turkey (X tons), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+7.9% per year) and Turkey (+2.7% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of spools, cops and similar supports of plastics to Oman, comprising 59% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total imports. It was followed by Turkey, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+5.6% per year) and Turkey (+4.7% per year).

Import Prices by Country

In 2022, the average plastic support import price amounted to $X per ton, falling by -13.8% against the previous year. Overall, the import price recorded a mild slump. The growth pace was the most rapid in 2021 an increase of 33% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Bahrain ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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