Kuwait: Vulcanised Rubber Mats Market 2024

Vulcanised Rubber Mats Market Size in Kuwait

The Kuwaiti vulcanised rubber mats market skyrocketed to $X in 2021, surging by 31% 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, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.5% against 2019 indices. Vulcanised rubber mats consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Vulcanised Rubber Mats Exports

Exports from Kuwait

In 2021, overseas shipments of floor coverings and mats of vulcanised rubber increased by 184% to X tons, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 903% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, vulcanised rubber mats exports surged to $X in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,080%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Saudi Arabia (X tons), Bahrain (X tons) and Bulgaria (X kg) were the main destinations of vulcanised rubber mats exports from Kuwait, with a combined 97% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +82.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X) remains the key foreign market for floor coverings and mats of vulcanised rubber exports from Kuwait, comprising 78% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value to Bahrain totaled +65.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+6.3% per year) and the United Arab Emirates (+50.3% per year).

Export Prices by Country

In 2021, the average vulcanised rubber mats export price amounted to $X per ton, waning by -57.3% against the previous year. Overall, the export price recorded a deep setback. The pace of growth was the most pronounced in 2018 an increase of 55% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the 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 ($X per ton), while the average price for exports to Saudi Arabia ($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 Qatar (+32.8%), while the prices for the other major destinations experienced a decline.

Vulcanised Rubber Mats Imports

Imports into Kuwait

In 2021, the amount of floor coverings and mats of vulcanised rubber imported into Kuwait surged to X tons, growing by 23% against the year before. Over the period under review, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 104%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vulcanised rubber mats imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.3% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 103%. Over the period under review, imports hit record highs at $X in 2016; afterwards, it flattened through to 2021.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of vulcanised rubber mats imports to Kuwait, with a combined 62% share of total imports. These countries were followed by Malaysia, the United States, the Netherlands, Canada, Indonesia and Germany, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +93.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber mats suppliers to Kuwait were India ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 50% share of total imports. These countries were followed by the United States, the Netherlands, Malaysia, Canada, Germany and Indonesia, which together accounted for a further 25%.

The Netherlands, with a CAGR of +88.4%, recorded the highest growth rate of the value of imports, among 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 vulcanised rubber mats import price amounted to $X per ton, growing by 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 35%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood 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 the Netherlands ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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