Oman: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Oman

The Omani iron or steel leaf-spring market expanded sharply to $X in 2023, growing by X% against the previous year. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Oman

In value terms, iron or steel leaf-spring production dropped modestly to $X in 2023 estimated in export price. Overall, production showed a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Iron or steel leaf-spring production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Oman

Iron or steel leaf-spring exports from Oman fell dramatically to X tons in 2023, with a decrease of X% on 2022. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring exports dropped dramatically to $X in 2023. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

Yemen (X tons) was the main destination for iron or steel leaf-spring exports from Oman, accounting for a X% share of total exports. Moreover, iron or steel leaf-spring exports to Yemen exceeded the volume sent to the second major destination, Somalia (X tons), sevenfold.

From 2012 to 2023, the average annual growth rate of volume to Yemen stood at X%.

In value terms, the largest markets for iron or steel leaf-spring exported from Oman were Yemen ($X) and Somalia ($X).

Yemen, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2023, standing approx. at the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Somalia ($X per ton), while the average price for exports to Yemen stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Oman

In 2023, approx. X tons of iron or steel leaf-springs and leaves were imported into Oman; surging by X% on the previous year's figure. Over the period under review, imports saw a strong expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, iron or steel leaf-spring imports rose notably to $X in 2023. Overall, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the United Arab Emirates (X tons) constituted the largest iron or steel leaf-spring supplier to Oman, accounting for a X% share of total imports. Moreover, iron or steel leaf-spring imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), tenfold. The Netherlands (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and the Netherlands (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Oman, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and China (X% per year).

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price recorded a perceptible setback. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform