Kuwait: Plaster Article Market 2024

Plaster Article Market Size in Kuwait

The Kuwaiti plaster article market expanded to $X in 2021, increasing by 4.8% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Plaster Article Production in Kuwait

In value terms, plaster article production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 123%. Plaster article production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Plaster Article Exports

Exports from Kuwait

In 2021, approx. X tons of articles of plaster or of compositions based on plaster were exported from Kuwait; declining by -9.4% compared with the previous year. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 551% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, plaster article exports rose notably to $X in 2021. Overall, exports saw a deep reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 182%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons), Syrian Arab Republic (X tons) and Jordan (X tons) were the main destinations of plaster article exports from Kuwait, together accounting for 84% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Syrian Arab Republic (with a CAGR of +53.8%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) emerged as the key foreign market for plaster article exports from Kuwait, comprising 52% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 18% share of total exports. It was followed by Jordan, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar amounted to +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-24.8% per year) and Jordan (+4.0% per year).

Export Prices by Country

In 2021, the average plaster article export price amounted to $X per ton, growing by 19% against the previous year. Over the period under review, the export price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of 75%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Qatar ($X per ton), while the average price for exports to Syrian Arab Republic ($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 Syrian Arab Republic (+1.5%), while the prices for the other major destinations experienced a decline.

Plaster Article Imports

Imports into Kuwait

In 2021, the amount of articles of plaster or of compositions based on plaster imported into Kuwait skyrocketed to X tons, growing by 17% on 2020 figures. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 131% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, plaster article imports declined to $X in 2021. In general, imports showed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 181% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Malaysia (X tons) were the main suppliers of plaster article imports to Kuwait, together accounting for 69% of total imports.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +91.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Malaysia ($X) constituted the largest plaster article suppliers to Kuwait, with a combined 60% share of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +72.0%, recorded 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

In 2021, the average plaster article import price amounted to $X per ton, with a decrease of -23.4% against the previous year. Over the period under review, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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