Oman: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Oman

The Omani ferro-alloys market stood at $X in 2023, remaining stable against the previous year. Over the period under review, consumption, however, showed a resilient increase. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Ferro-Alloys Production in Oman

In value terms, ferro-alloys production amounted to $X in 2023 estimated in export price. In general, production recorded a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Ferro-alloys production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Ferro-Alloys Exports

Exports from Oman

In 2023, approx. X tons of ferro-alloys were exported from Oman; picking up by X% compared with the previous year. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, ferro-alloys exports totaled $X in 2023. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main destinations of ferro-alloys exports from Oman, together comprising X% of total exports. India, Indonesia, Iran, Poland, Egypt, Turkey, Italy, the United States and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ferro-alloys exported from Oman were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising X% of total exports. India, Indonesia, Poland, Iran, Egypt, Turkey, the United States, Italy and the Netherlands lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average ferro-alloys export price stood at $X per ton in 2023, dropping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Oman

In 2023, after three years of growth, there was significant decline in overseas purchases of ferro-alloys, when their volume decreased by X% to X tons. Overall, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2022, and then shrank in the following year.

In value terms, ferro-alloys imports declined to $X in 2023. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank in the following year.

Imports by Country

In 2023, India (X tons) constituted the largest ferro-alloys supplier to Oman, accounting for a X% share of total imports. Moreover, ferro-alloys imports from India exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), fourfold. China (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (X% per year) and China (X% per year).

In value terms, India ($X) constituted the largest supplier of ferro-alloys to Oman, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Ukraine, with a X% share.

From 2012 to 2023, the average annual growth rate of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Ukraine (X% per year).

Import Prices by Country

The average ferro-alloys import price stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2023.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Zambia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform