Kuwait: Candles And Tapers Market 2024

Candles And Tapers Market Size in Kuwait

In 2021, the Kuwaiti candles and tapers market increased by 17% to $X, rising for the fifth year in a row after two years of decline. In general, consumption enjoyed a buoyant increase. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the immediate term.

Candles And Tapers Exports

Exports from Kuwait

In 2021, candles and tapers exports from Kuwait surged to X kg, with an increase of 41% compared with the previous year. Over the period under review, exports, however, showed a significant contraction. The pace of growth was the most pronounced in 2015 when exports increased by 455%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, candles and tapers exports surged to $X in 2021. In general, exports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 820% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for candles and tapers exports from Kuwait, with a 41% share of total exports. Moreover, candles and tapers exports to the United Arab Emirates exceeded the volume sent to the second major destination, Lebanon (X kg), twofold. The third position in this ranking was taken by Saudi Arabia (X kg), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (-6.4% per year) and Saudi Arabia (-26.6% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for candles and tapers exports from Kuwait, comprising 81% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 6.7% share of total exports. It was followed by Bahrain, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-4.4% per year) and Bahrain (-25.3% per year).

Export Prices by Country

In 2021, the average candles and tapers export price amounted to $X per ton, increasing by 298% against the previous year. Overall, the export price continues to indicate a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Lebanon ($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 (+37.1%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into Kuwait

For the sixth year in a row, Kuwait recorded growth in supplies from abroad of candles and tapers, which increased by 12% to X tons in 2021. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 32% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, candles and tapers imports soared to $X in 2021. Overall, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 50% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), the United States (X tons) and China (X tons) were the main suppliers of candles and tapers imports to Kuwait, together comprising 52% of total imports. These countries were followed by Canada and Sweden, which together accounted for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +36.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of candles and tapers to Kuwait, comprising 29% of total imports. The second position in the ranking was held by Canada ($X), with a 12% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+47.2% per year) and China (+4.6% per year).

Import Prices by Country

The average candles and tapers import price stood at $X per ton in 2021, with an increase of 6.2% against the previous year. Overall, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers import price increased by +71.8% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 44% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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