Kuwait: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Kuwait

The Kuwaiti articles of fiber cement market amounted to $X in 2022, picking up by 5.8% against the previous year. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +22.4% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Kuwait

In value terms, articles of fiber cement production surged to $X in 2022 estimated in export price. In general, production recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 190% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports from Kuwait

In 2022, approx. X tons of articles of asbestos-cement, cellulose fiber-cement or the like were exported from Kuwait; stabilizing at the previous year. Overall, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by 136% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, articles of fiber cement exports totaled $X in 2022. In general, exports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 479% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Iraq (X tons) and Saudi Arabia (X tons) were the main destinations of articles of fiber cement exports from Kuwait, with a combined 81% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +25.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for articles of asbestos-cement, cellulose fiber-cement or the like exports from Kuwait, comprising 58% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 26% share of total exports. It was followed by Qatar, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +42.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-14.0% per year) and Qatar (-14.2% per year).

Export Prices by Country

In 2022, the average articles of fiber cement export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price recorded a notable increase. The pace of growth was the most pronounced in 2019 an increase of 145%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Iraq ($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 Iran (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports into Kuwait

In 2022, overseas purchases of articles of asbestos-cement, cellulose fiber-cement or the like decreased by -17.1% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 639%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, articles of fiber cement imports shrank sharply to $X in 2022. Over the period under review, imports, however, showed measured growth. The most prominent rate of growth was recorded in 2017 when imports increased by 931% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of articles of fiber cement imports to Kuwait, together accounting for 81% of total imports. Thailand, Germany, China, Portugal and Turkey lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +144.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and Saudi Arabia ($X) were the largest articles of fiber cement suppliers to Kuwait, together comprising 58% of total imports. China, the United Arab Emirates, Thailand, Portugal and Turkey lagged somewhat behind, together accounting for a further 33%.

In terms of the main suppliers, Portugal, with a CAGR of +97.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average articles of fiber cement import price stood at $X per ton in 2022, with a decrease of -35.7% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 40%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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