Oman: Phosphoric Acid Market 2022

Phosphoric Acid Market Size in Oman

In 2021, the Omani phosphoric acid market decreased by -X% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, continues to indicate a prominent expansion. Phosphoric acid consumption peaked at $X in 2020, and then shrank in the following year.

Phosphoric Acid Production in Oman

In value terms, phosphoric acid production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Phosphoric acid production peaked at $X in 2020, and then dropped in the following year.

Phosphoric Acid Exports

Exports from Oman

In 2021, overseas shipments of phosphoric acid and polyphosphoric acids increased by X% to X tons for the first time since 2013, thus ending a seven-year declining trend. Over the period under review, total exports indicated a temperate increase from 2012 to 2021: its volume 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 decreased by -X% against 2013 indices. The pace of growth was the most pronounced in 2013 with an increase of 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 failed to regain momentum.

In value terms, phosphoric acid exports shrank to $X in 2021. In general, exports showed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2020, and then shrank in the following year.

Exports by Country

Qatar (X tons) was the main destination for phosphoric acid exports from Oman, accounting for a approx. X% share of total exports.

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

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

Export Prices by Country

The average phosphoric acid export price stood at $X per ton in 2017, increasing by X% against the previous year. Over the period under review, the export price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2017, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2012 to 2017, the rate of growth in terms of prices for Qatar amounted to X% per year.

Phosphoric Acid Imports

Imports into Oman

In 2021, the amount of phosphoric acid and polyphosphoric acids imported into Oman expanded significantly to X tons, picking up by X% on 2020. In general, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth imports failed to regain momentum.

In value terms, phosphoric acid imports shrank slightly to $X in 2021. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2017 indices. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at $X in 2020, and then fell modestly in the following year.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Jordan (X tons) were the main suppliers of phosphoric acid imports to Oman, with a combined X% share of total imports. Belgium, Canada and South Korea lagged somewhat behind, together comprising a further X 2012 to 2021, the biggest increases were in Canada (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Jordan ($X) constituted the largest phosphoric acid suppliers to Oman, with a combined X% share of total imports. Belgium, South Korea and Canada lagged somewhat behind, together comprising a further X, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average phosphoric acid import price stood at $X per ton in 2021, dropping by -X% against the previous year. In general, the import price continues to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2020, and then contracted in the following year.

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

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

Source: IndexBox Platform