Kuwait: Metal Bath Market 2024

Metal Bath Market Size in Kuwait

The Kuwaiti metal bath market surged to $X in 2021, growing by 203% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Bath Exports

Exports from Kuwait

In 2021, overseas shipments of baths of iron or steel increased by 33% to X tons for the first time since 2014, thus ending a six-year declining trend. Overall, exports, however, continue to indicate a significant decline. The pace of growth was the most pronounced in 2014 when exports increased by 133% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal bath exports surged to $X in 2021. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2014 with an increase of 261%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for metal bath exports from Kuwait, accounting for a 94% share of total exports. Moreover, metal bath exports to India exceeded the volume sent to the second major destination, Pakistan (X kg), ninefold. Saudi Arabia (X kg) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to India totaled -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+22.0% per year) and Saudi Arabia (-12.4% per year).

In value terms, the largest markets for metal bath exported from Kuwait were India ($X), the United Arab Emirates ($X) and Iran ($X), together accounting for 61% of total exports. These countries were followed by Pakistan and Saudi Arabia, which together accounted for a further 4.7%.

Among the main countries of destination, Pakistan, with a CAGR of +30.6%, saw 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 metal bath export price stood at $X per ton in 2021, surging by 47% against the previous year. Over the period under review, the export price saw significant growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 189% against the previous year. The export price peaked in 2021 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 the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia ($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 (+76.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Bath Imports

Imports into Kuwait

In 2021, overseas purchases of baths of iron or steel were finally on the rise to reach X tons after two years of decline. Overall, imports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 355% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal bath imports soared to $X in 2021. Over the period under review, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 353%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of metal bath to Kuwait, with a 72% share of total imports. Moreover, metal bath imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-12.5% per year) and China (-15.7% per year).

In value terms, Germany ($X) constituted the largest supplier of baths of iron or steel to Kuwait, comprising 30% of total imports. The second position in the ranking was taken by China ($X), with a 5.4% share of total imports. It was followed by the United Arab Emirates, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.2% per year) and the United Arab Emirates (+11.6% per year).

Import Prices by Country

In 2021, the average metal bath import price amounted to $X per ton, with an increase of 7.8% against the previous year. In general, the import price saw buoyant growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 164% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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