Kuwait: Agglomerated Powder Rod Market 2024

Agglomerated Powder Rod Market Size in Kuwait

In 2021, the Kuwaiti agglomerated powder rod market decreased by -39% to $X, falling for the second year in a row after six years of growth. In general, consumption recorded a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Agglomerated Powder Rod Exports

Exports from Kuwait

In 2021, the amount of base metal wire and rods of agglomerated base powder exported from Kuwait skyrocketed to X tons, picking up by 54% against the previous year. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 1,288% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agglomerated powder rod exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,572%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iraq (X tons) was the main destination for agglomerated powder rod exports from Kuwait, accounting for a 92% share of total exports. Moreover, agglomerated powder rod exports to Iraq exceeded the volume sent to the second major destination, Saudi Arabia (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq stood at +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+13.2% per year) and the United Arab Emirates (-15.9% per year).

In value terms, the largest markets for agglomerated powder rod exported from Kuwait were Saudi Arabia ($X), Iraq ($X) and the United Arab Emirates ($X), together comprising 68% of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of +35.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average agglomerated powder rod export price amounted to $X per ton, jumping by 26% against the previous year. In general, the export price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2015 when the average export price increased by 66% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Iraq ($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 the United Arab Emirates (+40.8%), while the prices for the other major destinations experienced mixed trend patterns.

Agglomerated Powder Rod Imports

Imports into Kuwait

In 2021, supplies from abroad of base metal wire and rods of agglomerated base powder decreased by -38.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 182%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, agglomerated powder rod imports declined sharply to $X in 2021. In general, imports faced a deep contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 71%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of agglomerated powder rod to Kuwait, with a 40% share of total imports. Moreover, agglomerated powder rod imports from Malaysia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was held by Austria (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia amounted to +56.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+4.5% per year) and Austria (+118.7% per year).

In value terms, Malaysia ($X), Austria ($X) and South Korea ($X) constituted the largest agglomerated powder rod suppliers to Kuwait, together accounting for 50% of total imports.

Austria, with a CAGR of +72.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 agglomerated powder rod import price amounted to $X per ton, with an increase of 12% against the previous year. In general, the import price, however, showed a noticeable reduction. The growth pace was the most rapid in 2020 an increase of 84%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :