Oman: Glass Fibre Mat Market 2024

Glass Fibre Mat Market Size in Oman

After three years of decline, the Omani glass fibre mat market increased by 15% to $X in 2022. Over the period under review, consumption showed a strong expansion. Glass fibre mat consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Glass Fibre Mat Exports

Exports from Oman

In 2022, after three years of growth, there was significant decline in overseas shipments of glass fibre mats, when their volume decreased by -45% to X tons. In general, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 2,662%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped dramatically in the following year.

In value terms, glass fibre mat exports fell sharply to $X in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth was the most pronounced in 2016 with an increase of 2,796% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) were the main destinations of glass fibre mat exports from Oman, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +47.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) emerged as the key foreign market for glass fibre mats exports from Oman, comprising 57% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Qatar stood at +51.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+43.9% per year) and Kuwait (+22.1% per year).

Export Prices by Country

In 2022, the average glass fibre mat export price amounted to $X per ton, picking up by 54% against the previous year. Over the period under review, the export price, however, continues to indicate a slight shrinkage. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to the United Arab Emirates ($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 Somalia (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

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Glass Fibre Mat Imports

Imports into Oman

In 2022, the amount of glass fibre mats imported into Oman expanded slightly to X tons, growing by 4.3% against 2021. In general, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 79%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, glass fibre mat imports declined modestly to $X in 2022. Over the period under review, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 when imports increased by 59%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Saudi Arabia (X tons) were the main suppliers of glass fibre mat imports to Oman, with a combined 84% share of total imports. India, Singapore, South Korea and the UK lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +53.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre mat suppliers to Oman were the United Arab Emirates ($X), China ($X) and Saudi Arabia ($X), with a combined 68% share of total imports. South Korea, India, the UK and Singapore lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, the UK, with a CAGR of +40.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass fibre mat import price amounted to $X per ton, which is down by -4.2% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre mat import price increased by +87.4% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 70% against the previous year. The import price peaked at $X per ton in 2021, and then contracted in the following year.

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 (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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