Kuwait: Aluminium Market 2025

Aluminium Market Size in Kuwait

The Kuwaiti aluminium market shrank to $X in 2022, with a decrease of -10% against the previous year. In general, consumption showed a deep downturn. Aluminium consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Aluminium Production in Kuwait

In value terms, aluminium production fell modestly to $X in 2022 estimated in export price. Overall, production saw a deep downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Aluminium Exports

Exports from Kuwait

In 2022, aluminium exports from Kuwait skyrocketed to X tons, rising by 255% compared with the previous year's figure. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 1,189%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, aluminium exports skyrocketed to $X in 2022. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 890% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for aluminium exports from Kuwait, with a 74% share of total exports. Moreover, aluminium exports to India exceeded the volume sent to the second major destination, South Korea (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+27.4% per year) and the United Arab Emirates (+27.8% per year).

In value terms, India ($X) remains the key foreign market for aluminum (unwrought, not alloyed) exports from Kuwait, comprising 75% of total exports. The second position in the ranking was held by South Korea ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+16.4% per year) and the United Arab Emirates (+13.0% per year).

Export Prices by Country

The average aluminium export price stood at $X per ton in 2022, dropping by -19.9% against the previous year. Over the period under review, the export price showed a deep contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by 39% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+94.0%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Imports

Imports into Kuwait

After seven years of growth, overseas purchases of aluminum (unwrought, not alloyed) decreased by -29.9% to X tons in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 149%. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, aluminium imports contracted remarkably to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 201% against the previous year. As a result, imports reached the peak of $X, and then declined dramatically in the following year.

Imports by Country

Saudi Arabia (X tons), Bahrain (X tons) and Oman (X tons) were the main suppliers of aluminium imports to Kuwait, together accounting for 97% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +44.9%), while imports for the other leaders experienced a decline.

In value terms, Saudi Arabia ($X) constituted the largest supplier of aluminum (unwrought, not alloyed) to Kuwait, comprising 65% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 29% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia amounted to +39.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bahrain (-9.0% per year) and Oman (-20.4% per year).

Import Prices by Country

The average aluminium import price stood at $X per ton in 2022, declining by -5% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 31%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+95.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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