Oman: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Oman

After two years of growth, the Omani stainless steel seamless pipe market decreased by X% to $X in 2022. Overall, consumption saw a relatively flat trend pattern. Stainless steel seamless pipe consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Oman

In value terms, stainless steel seamless pipe production expanded sharply to $X in 2022 estimated in export price. Overall, production posted a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports from Oman

In 2022, after three years of growth, there was significant decline in overseas shipments of stainless steel seamless pipe for oil and gas, when their volume decreased by X% to X tons. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, stainless steel seamless pipe exports contracted dramatically to $X in 2022. Overall, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

Yemen (X tons) was the main destination for stainless steel seamless pipe exports from Oman, accounting for a X% share of total exports. Moreover, stainless steel seamless pipe exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by Qatar (X tons), with a X% share.

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

In value terms, Yemen ($X) remains the key foreign market for stainless steel seamless pipe for oil and gas exports from Oman, comprising X% of total exports. The second position in the ranking was held by Qatar ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

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

Export Prices by Country

The average stainless steel seamless pipe export price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the export price saw a slight decline. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Yemen ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports into Oman

In 2022, purchases abroad of stainless steel seamless pipe for oil and gas decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, stainless steel seamless pipe imports contracted notably to $X in 2022. Over the period under review, imports continue to indicate a slight downturn. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest stainless steel seamless pipe supplier to Oman, accounting for a X% share of total imports. Moreover, stainless steel seamless pipe imports from China exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), sevenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) constituted the largest supplier of stainless steel seamless pipe for oil and gas to Oman, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average stainless steel seamless pipe import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 South Korea ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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