Kuwait: Abrasives Market 2024

Abrasives Market Size in Kuwait

In 2021, the Kuwaiti abrasives market decreased by -21.4% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Abrasives Exports

Exports from Kuwait

In 2021, after three years of decline, there was significant growth in shipments abroad of abrasives (natural), when their volume increased by 142% to X tons. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 3,880% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, abrasives exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 2,790%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for abrasives exports from Kuwait, with a 49% share of total exports. Moreover, abrasives exports to Saudi Arabia exceeded the volume sent to the second major destination, Italy (X tons), fourfold. Qatar (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia stood at +60.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Qatar (+50.3% per year).

In value terms, Saudi Arabia ($X), Italy ($X) and Qatar ($X) constituted the largest markets for abrasives exported from Kuwait worldwide, together accounting for 59% of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of +66.5%, recorded the highest growth rate of 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

The average abrasives export price stood at $X per ton in 2021, surging by 40% against the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while the average price for exports to the United Arab Emirates ($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 (+3.7%), while the prices for the other major destinations experienced a decline.

Abrasives Imports

Imports into Kuwait

In 2021, purchases abroad of abrasives (natural) decreased by -5.5% to X tons, falling for the fourth year in a row after two years of growth. In general, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2016 when imports increased by 610%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, abrasives imports declined to $X in 2021. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 714% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest abrasives supplier to Kuwait, with a 57% share of total imports. Moreover, abrasives imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Saudi Arabia (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled -15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.7% per year) and Saudi Arabia (-0.4% per year).

In value terms, India ($X) constituted the largest supplier of abrasives (natural) to Kuwait, comprising 56% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from India amounted to -11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.1% per year) and Saudi Arabia (+0.3% per year).

Import Prices by Country

In 2021, the average abrasives import price amounted to $X per ton, shrinking by -4% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, abrasives import price decreased by -13.5% against 2017 indices. The most prominent rate of growth was recorded in 2016 an increase of 15% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Malaysia ($X per ton), while the price for Oman ($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 (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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