Oman: Market for Hot-Rolled Bars Of High Speed Steel 2022

Market Size for Hot-Rolled Bars Of High Speed Steel in Oman

In 2021, the Omani market for hot-rolled bars of high speed steel decreased by -X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, enjoyed a prominent increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Oman

In 2021, shipments abroad of hot-rolled bars of high speed steel decreased by -X% to X kg for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports faced a dramatic contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar exports amounted to $X in 2021. Overall, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Qatar (X kg) was the main destination for hot-rolled high speed steel bar exports from Oman, accounting for a X% share of total exports. Moreover, hot-rolled high speed steel bar exports to Qatar exceeded the volume sent to the second major destination, Tanzania (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to Qatar stood at +X%.

In value terms, the largest markets for hot-rolled high speed steel bar exported from Oman were Qatar ($X) and Tanzania ($X the main countries of destination, Qatar, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, picking up by X% against the previous year. In general, the export price saw a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Tanzania ($X per ton), while the average price for exports to Qatar totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (X%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Oman

In 2021, supplies from abroad of hot-rolled bars of high speed steel decreased by -X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports reduced to $X in 2021. In general, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of hot-rolled high speed steel bar to Oman, accounting for a X% share of total imports. Moreover, hot-rolled high speed steel bar imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold.

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

In value terms, the United Arab Emirates ($X) constituted the largest supplier of hot-rolled high speed steel bar to Oman, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

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

Import Prices by Country

In 2021, the average import price for hot-rolled bars of high speed steel amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price saw a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably countryorigin: the country with the highest price was the United Arab Emirates ($X per ton), while the price for Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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