Updated Sep 27, 2022 06:47

Wood-Based Panels Market in Oman

Market Overview
The Omani wood-based panels market shrank significantly to $ in , dropping by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate notable growth. As a result, consumption attained the peak level of $. From 2013 to , the growth of the market remained at a lower figure.


Consumption
In , approx. cubic meters of wood-based panels were consumed in Oman; picking up by % on figures. In general, consumption continues to indicate a buoyant increase. Wood-based panels consumption peaked at cubic meters in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.

The value of the wood-based panels market in Oman expanded rapidly to $ in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a notable expansion. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a somewhat lower figure.


Consumption by Type
Plywood ( cubic meters), fibreboard ( cubic meters) and particle boards ( cubic meters) were the main products of wood-based panels consumption in Oman, with a combined % share of the total volume.

From 2007 to , the most notable rate of growth in terms of consumption, amongst the leading consumed products, was attained by fibreboard (with a CAGR of +%), while consumption for the other products experienced more modest paces of growth.

In value terms, plywood ($), fibreboard ($) and particle boards ($) were the products with the highest levels of market value in , together comprising % of the total market.

Fibreboard, with a CAGR of +%, saw the highest rates of growth with regard to market size in terms of the main consumed products over the period under review, while market for the other products experienced more modest paces of growth.


Market Forecast
Driven by increasing demand for wood-based panels in Oman, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to cubic meters by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Oman domestic supply is expected to continue its growth. Wood-based panels market in Oman consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Oman remains a net importer of wood-based panels; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of cubic meters, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.