Oman: Market for Polyethylene Glycols and Polyethers in Primary Forms 2023

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Oman

The Omani polyethylene glycol and polyether market skyrocketed to $X in 2021, growing by 20% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Polyethylene glycol and polyether consumption peaked in 2021 and is likely to see steady growth in the near future.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Oman

In value terms, polyethylene glycol and polyether production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a noticeable decline. The most prominent rate of growth was recorded in 2015 when the production volume increased by 75%. Polyethylene glycol and polyether production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Oman

In 2021, overseas shipments of polyethylene glycols and polyethers in primary forms increased by 22% to X tons, rising for the fifth year in a row after two years of decline. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 351% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, polyethylene glycol and polyether exports surged to $X in 2021. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 535%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Ethiopia (X tons), Somalia (X tons) and the United Arab Emirates (X tons) were the main destinations of polyethylene glycol and polyether exports from Oman, together comprising 92% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +100.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol and polyether exported from Oman were Ethiopia ($X), Somalia ($X) and the United Arab Emirates ($X), with a combined 94% share of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +148.3%, 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

In 2021, the average polyethylene glycol and polyether export price amounted to $X per ton, growing by 17% against the previous year. In general, the export price, however, showed a perceptible setback. The pace of growth was the most pronounced in 2020 when the average export price increased by 41%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Kenya ($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 Saudi Arabia (+107.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Oman

For the sixth year in a row, Oman recorded growth in supplies from abroad of polyethylene glycols and polyethers in primary forms, which increased by 28% to X tons in 2021. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol and polyether imports soared to $X in 2021. Overall, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of polyethylene glycol and polyether to Oman, accounting for a 69% share of total imports. Moreover, polyethylene glycol and polyether imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. France (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-5.1% per year) and France (+17.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of polyethylene glycols and polyethers in primary forms to Oman, comprising 64% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.2% share of total imports. It was followed by Germany, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates stood at +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-3.3% per year) and Germany (+25.6% per year).

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, jumping by 20% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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