Kuwait: Market for Ferro-Cerium And Pyrophoric Alloys 2024

Market Size for Ferro-Cerium And Pyrophoric Alloys in Kuwait

In 2021, the Kuwaiti ferro-cerium and pyrophoric alloys market decreased by -41.4% to $X, falling for the second year in a row after five years of growth. In general, consumption, however, saw a buoyant increase. Ferro-cerium and pyrophoric alloys consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Ferro-Cerium And Pyrophoric Alloys

Exports from Kuwait

In 2021, the amount of ferro-cerium and pyrophoric alloys exported from Kuwait shrank to X kg, with a decrease of -13.7% compared with the previous year's figure. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when exports increased by 141%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ferro-cerium and pyrophoric alloys exports fell to $X in 2021. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 145% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X kg), the United Arab Emirates (X kg) and Oman (X kg) were the main destinations of ferro-cerium and pyrophoric alloys exports from Kuwait, together accounting for 100% 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 Oman (with a CAGR of +28.5%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for ferro-cerium and pyrophoric alloys exported from Kuwait were Qatar ($X), the United Arab Emirates ($X) and Oman ($X), together comprising 98% of total exports.

Qatar, with a CAGR of +12.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average ferro-cerium and pyrophoric alloys export price stood at $X per ton in 2021, surging by 11% against the previous year. In general, the export price posted strong growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 190% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Oman ($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 Netherlands (+32.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ferro-Cerium And Pyrophoric Alloys

Imports into Kuwait

In 2021, purchases abroad of ferro-cerium and pyrophoric alloys decreased by -35.6% to X tons, falling for the second consecutive year after five years of growth. In general, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 80%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, ferro-cerium and pyrophoric alloys imports declined markedly to $X in 2021. Overall, imports, however, enjoyed modest growth. The pace of growth appeared the most rapid in 2017 when imports increased by 39%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Bahrain (X tons) constituted the largest supplier of ferro-cerium and pyrophoric alloys to Kuwait, accounting for a 61% share of total imports. Moreover, ferro-cerium and pyrophoric alloys imports from Bahrain exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. The third position in this ranking was held by Saudi Arabia (X tons), with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bahrain totaled +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+14.8% per year) and Saudi Arabia (-3.7% per year).

In value terms, Bahrain ($X) constituted the largest supplier of ferro-cerium and pyrophoric alloys to Kuwait, comprising 44% of total imports. The second position in the ranking was held by Italy ($X), with a 6.2% share of total imports. It was followed by Saudi Arabia, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value from Bahrain amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.4% per year) and Saudi Arabia (-9.0% per year).

Import Prices by Country

In 2021, the average ferro-cerium and pyrophoric alloys import price amounted to $X per ton, waning by -16.2% against the previous year. In general, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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 Turkey ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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