Oman: Plastic Supports Market 2024

Plastic Supports Market Size in Oman

The Omani plastic supports market contracted markedly to $X in 2022, which is down by -24.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Plastic Supports Exports

Exports from Oman

Plastic supports exports from Oman surged to X tons in 2022, rising by 43% compared with the previous year. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 487%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic supports exports contracted to $X in 2022. In general, exports posted a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 630%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Tanzania (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main destinations of plastic supports exports from Oman.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +31.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X) emerged as the key foreign market for spools, cops, bobbins and similar supports of plastics exports from Oman, comprising 68% of total exports. The second position in the ranking was taken by Qatar ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Tanzania stood at +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+14.4% per year) and the United Arab Emirates (+6.9% per year).

Export Prices by Country

In 2022, the average plastic supports export price amounted to $X per ton, which is down by -31.6% against the previous year. Overall, the export price saw a noticeable decline. The growth pace was the most rapid in 2016 when the average export price increased by 94% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 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 Tanzania ($X per ton), while the average price for exports to the United Arab Emirates ($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 Saudi Arabia (+17.8%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Supports Imports

Imports into Oman

In 2022, approx. X tons of spools, cops, bobbins and similar supports of plastics were imported into Oman; with a decrease of -16.7% on the year before. Overall, imports showed a mild setback. The pace of growth was the most pronounced in 2021 when imports increased by 50% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic supports imports reduced notably to $X in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.9% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 94%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest plastic supports supplier to Oman, with a 61% share of total imports. Moreover, plastic supports imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-12.6% per year) and the United States (-4.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of spools, cops, bobbins and similar supports of plastics to Oman, comprising 55% of total imports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total imports. It was followed by Sri Lanka, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-10.5% per year) and Sri Lanka (+12.7% per year).

Import Prices by Country

In 2022, the average plastic supports import price amounted to $X per ton, falling by -9% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic supports import price increased by +58.9% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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 Sri Lanka ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :