Kuwait: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Kuwait

In 2021, the Kuwaiti glass fibre filament market decreased by -4.6% to $X, falling for the fifth year in a row after five years of growth. Overall, consumption, however, showed measured growth. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Glass Fibre Filament Production in Kuwait

In value terms, glass fibre filament production stood at $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by 121% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Glass Fibre Filament Exports

Exports from Kuwait

Glass fibre filament exports from Kuwait reduced dramatically to X tons in 2021, with a decrease of -46.5% on the previous year. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 324% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre filament exports shrank notably to $X in 2021. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 254%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for glass fibre filament exports from Kuwait, with a 84% share of total exports. Moreover, glass fibre filament exports to Qatar exceeded the volume sent to the second major destination, Egypt (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar totaled +51.8%.

In value terms, Qatar ($X) remains the key foreign market for glass fibre filaments exports from Kuwait, comprising 86% of total exports. The second position in the ranking was taken by Egypt ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar amounted to +41.8%.

Export Prices by Country

In 2021, the average glass fibre filament export price amounted to $X per ton, with a decrease of -6.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 41%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Egypt amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (-2.5%).

Glass Fibre Filament Imports

Imports into Kuwait

In 2021, purchases abroad of glass fibre filaments decreased by -24% to X tons, falling for the third consecutive year after five years of growth. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 286%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, glass fibre filament imports declined rapidly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 209% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and Bahrain (X tons) were the main suppliers of glass fibre filament imports to Kuwait, together accounting for 81% of total imports. Belgium, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +96.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Bahrain ($X) were the largest glass fibre filament suppliers to Kuwait, together comprising 75% of total imports. These countries were followed by Belgium, Saudi Arabia and the United Arab Emirates, which together accounted for a further 17%.

Among the main suppliers, Belgium, with a CAGR of +100.1%, recorded the highest growth rate of the value of imports, 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 glass fibre filament import price amounted to $X per ton, with a decrease of -10.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 52% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Arab Emirates ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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