Kuwait: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Kuwait

The Kuwaiti glass fibres and wool market contracted to $X in 2022, waning by -2.7% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.5% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Glass Fibres And Glass Wool in Kuwait

In value terms, glass fibres and wool production amounted to $X in 2022 estimated in export price. In general, production showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 82% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Kuwait

Glass fibres and wool exports from Kuwait contracted to X tons in 2022, dropping by -9.6% against the previous year. In general, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2021 when exports increased by 24%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, glass fibres and wool exports reduced to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for glass fibres and wool exports from Kuwait, with a 47% share of total exports. Moreover, glass fibres and wool exports to the United Arab Emirates exceeded the volume sent to the second major destination, Egypt (X tons), threefold. Bahrain (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+9.5% per year) and Bahrain (-0.8% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for glass fibres and glass wool exports from Kuwait, comprising 54% of total exports. The second position in the ranking was held by Egypt ($X), with a 15% share of total exports. It was followed by Bahrain, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+9.0% per year) and Bahrain (-0.2% per year).

Export Prices by Country

The average glass fibres and wool export price stood at $X per ton in 2022, with an increase of 2.4% against the previous year. Overall, the export price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2020 an increase of 3.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Kuwait

In 2022, after four years of decline, there was significant growth in supplies from abroad of glass fibres and glass wool, when their volume increased by 69% to X tons. Over the period under review, imports, however, showed a noticeable descent. The pace of growth was the most pronounced in 2017 when imports increased by 402% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass fibres and wool imports soared to $X in 2022. In general, imports, however, recorded a slight decrease. The pace of growth was the most pronounced in 2017 when imports increased by 347%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of glass fibres and wool to Kuwait, with a 87% share of total imports. Moreover, glass fibres and wool imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.3% per year) and India (+7.2% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of glass fibres and glass wool to Kuwait, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.5% per year) and India (+6.0% per year).

Import Prices by Country

In 2022, the average glass fibres and wool import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 an increase of 35%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+17.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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