Oman: Monocarboxylic Acid Market 2022

Monocarboxylic Acid Market Size in Oman

In 2021, the Omani monocarboxylic acid market decreased by -X% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, continues to indicate a prominent expansion. Monocarboxylic acid consumption peaked at $X in 2020, and then reduced remarkably in the following year.

Monocarboxylic Acid Production in Oman

In value terms, monocarboxylic acid production reduced sharply to $X in 2021 estimated in export price. In general, production, however, enjoyed a prominent increase. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then shrank remarkably in the following year.

Monocarboxylic Acid Exports

Exports from Oman

In 2021, approx. less than X kg of acrylic acid and its salts and other monocarboxylic acid were exported from Oman; standing approx. at 2020 figures. Over the period under review, exports showed a sharp contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, monocarboxylic acid exports amounted to less than $X in 2021. In general, exports showed a sharp decline. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for monocarboxylic acid exports from Oman, with a X% share of total exports. Moreover, monocarboxylic acid exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold.

From 2012 to 2017, the average annual growth rate of volume to Qatar was relatively modest.

In value terms, the largest markets for monocarboxylic acid exported from Oman were Qatar ($X) and the United Arab Emirates ($X, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2017, the average monocarboxylic acid export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price saw a pronounced curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2017, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2017, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar stood at $X per ton.

From 2012 to 2017, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+X%).

Monocarboxylic Acid Imports

Imports into Oman

In 2021, purchases abroad of acrylic acid and its salts and other monocarboxylic acid was finally on the rise to reach X tons after three years of decline. Over the period under review, imports posted a resilient expansion. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, monocarboxylic acid imports soared to $X in 2021. In general, imports recorded notable growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of monocarboxylic acid to Oman, with a X% share of total imports. Moreover, monocarboxylic acid imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and China (+X% per year).

In value terms, Belgium ($X) constituted the largest supplier of monocarboxylic acid to Oman, comprising X% of total imports. The second position in the ranking was occupied by the United Arab Emirates ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Belgium totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and India (+X% per year).

Import Prices by Country

The average monocarboxylic acid import price stood at $X per ton in 2021, reducing by -X% against the previous year. In general, the import price showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform