Oman: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Oman

The Omani unvulcanized rubber market declined to $X in 2022, reducing by -8.7% 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). The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports from Oman

In 2022, overseas shipments of unvulcanized rubber and articles thereof decreased by -15.4% to X tons, falling for the fourth year in a row after four years of growth. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 272% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, unvulcanized rubber exports reduced to $X in 2022. Overall, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2016 when exports increased by 353% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), Jordan (X tons) and Pakistan (X tons) were the main destinations of unvulcanized rubber exports from Oman, together comprising 89% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +29.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for unvulcanized rubber exported from Oman were Pakistan ($X), India ($X) and Qatar ($X), together accounting for 91% of total exports.

Pakistan, with a CAGR of +53.6%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, surging by 15% against the previous year. Over the period under review, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 139% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Jordan ($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 Pakistan (+148.3%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Oman

In 2022, overseas purchases of unvulcanized rubber and articles thereof increased by 5.6% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 67%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, unvulcanized rubber imports dropped to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +18.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 56%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of unvulcanized rubber to Oman, accounting for a 35% share of total imports. Moreover, unvulcanized rubber imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.2% per year) and Germany (+16.4% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of unvulcanized rubber and articles thereof to Oman, comprising 37% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by India, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.7% per year) and India (-2.7% per year).

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, waning by -18.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 an increase of 20% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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