Oman: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Oman

In 2021, the Omani synthetic filament tow market increased by 36% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a abrupt decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Synthetic Filament Tow Exports

Exports from Oman

In 2021, after two years of decline, there was significant growth in overseas shipments of synthetic filament tow and staple fibers, not carded or combed, when their volume increased by 237% to X tons. Over the period under review, exports posted prominent growth. The growth pace was the most rapid in 2018 with an increase of 492% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, synthetic filament tow exports surged to $X in 2021. Overall, exports saw prominent growth. The growth pace was the most rapid in 2018 with an increase of 450% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Yemen (X tons) was the main destination for synthetic filament tow exports from Oman, with a 77% share of total exports. Moreover, synthetic filament tow exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), eightfold. The third position in this ranking was taken by Kuwait (X tons), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to Yemen stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+17.5% per year) and Kuwait (+42.4% per year).

In value terms, Yemen ($X) emerged as the key foreign market for synthetic filament tow exports from Oman, comprising 51% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 25% share of total exports. It was followed by Qatar, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Yemen totaled +43.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+46.0% per year) and Qatar (+29.5% per year).

Export Prices by Country

The average synthetic filament tow export price stood at $X per ton in 2021, picking up by 4.6% against the previous year. In general, the export price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2015 an increase of 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Yemen ($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 Iran (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Filament Tow Imports

Imports into Oman

In 2021, after two years of decline, there was significant growth in purchases abroad of synthetic filament tow and staple fibers, not carded or combed, when their volume increased by 32% to X tons. Overall, imports, however, continue to indicate a slight reduction. The pace of growth was the most pronounced in 2017 when imports increased by 52% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, synthetic filament tow imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2017 with an increase of 49% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), South Korea (X tons) and Indonesia (X tons) were the main suppliers of synthetic filament tow imports to Oman, together accounting for 66% of total imports. Thailand, Singapore, Taiwan (Chinese), Egypt, Belgium, Saudi Arabia, India and Pakistan lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the biggest increases were in Singapore (with a CAGR of +76.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic filament tow suppliers to Oman were the United Arab Emirates ($X), Indonesia ($X) and South Korea ($X), together comprising 57% of total imports. These countries were followed by Singapore, India, Thailand, Belgium, Taiwan (Chinese), Saudi Arabia, Pakistan and Egypt, which together accounted for a further 31%.

Thailand, with a CAGR of +50.4%, 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 synthetic filament tow import price amounted to $X per ton, rising by 9.8% against the previous year. Overall, the import price, however, continues to indicate a abrupt shrinkage. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :