Oman: Pig Iron Articles Market 2023

Pig Iron Articles Market Size in Oman

The Omani pig iron articles market skyrocketed to $X in 2021, increasing by 104% against the previous year. Overall, consumption enjoyed notable growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Pig Iron Articles Production in Oman

In value terms, pig iron articles production totaled $X in 2021 estimated in export price. In general, production posted prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 141% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Pig Iron Articles Exports

Exports from Oman

In 2021, shipments abroad of granules and powders of pig iron increased by 66% to X tons, rising for the sixth year in a row after three years of decline. In general, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pig iron articles exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for pig iron articles exports from Oman, accounting for a 69% share of total exports. Moreover, pig iron articles exports to the United Arab Emirates exceeded the volume sent to the second major destination, Malaysia (X tons), sixfold. Yemen (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +23.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and Yemen (-11.2% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for granules and powders of pig iron exports from Oman, comprising 91% of total exports. The second position in the ranking was held by Yemen ($X), with a 3.1% share of total exports. It was followed by Malaysia, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-9.5% per year) and Malaysia (0.0% per year).

Export Prices by Country

The average pig iron articles export price stood at $X per ton in 2021, growing by 31% against the previous year. Overall, the export price enjoyed a strong increase. The growth pace was the most rapid in 2019 an increase of 94% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to India ($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 Free Zones (+166.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pig Iron Articles Imports

Imports into Oman

In 2021, approx. X tons of granules and powders of pig iron were imported into Oman; picking up by 86% on the year before. Over the period under review, imports saw a tangible increase. The growth pace was the most rapid in 2020 when imports increased by 833%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, pig iron articles imports soared to $X in 2021. In general, imports saw a temperate expansion. The pace of growth was the most pronounced in 2020 when imports increased by 495% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, India (X tons) was the main pig iron articles supplier to Oman, with a 93% share of total imports. Moreover, pig iron articles imports from India exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +4.3%.

In value terms, India ($X) constituted the largest supplier of granules and powders of pig iron to Oman, comprising 87% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 6.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India amounted to +4.9%.

Import Prices by Country

In 2021, the average pig iron articles import price amounted to $X per ton, declining by -2.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 131%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.6%).

Source: IndexBox Market Intelligence Platform

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