Kuwait: Hairpin Market 2024

Hairpin Market Size in Kuwait

The Kuwaiti hairpin market dropped remarkably to $X in 2021, waning by -34.6% 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). Over the period under review, consumption, however, saw modest growth. Hairpin consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Hairpin Exports

Exports from Kuwait

In 2021, overseas shipments of hairpins, curling pins, curling grips and hair-curlers decreased by -62.9% to X kg, falling for the third consecutive year after two years of growth. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2013 when exports increased by 223%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, hairpin exports plummeted to $X in 2021. In general, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 219%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X kg), Qatar (X kg) and the United Arab Emirates (X kg) were the main destinations of hairpin exports from Kuwait, with a combined 82% share of total exports.

From 2012 to 2021, the biggest increases were in Qatar (with a CAGR of +26.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hairpin exported from Kuwait were Qatar ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), together accounting for 63% of total exports.

In terms of the main countries of destination, Qatar, with a CAGR of +39.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hairpin export price amounted to $X per ton, increasing by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 230% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per ton), while the average price for exports to Saudi Arabia ($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 Jordan (+153.4%), while the prices for the other major destinations experienced more modest paces of growth.

Hairpin Imports

Imports into Kuwait

In 2021, hairpin imports into Kuwait contracted dramatically to X tons, waning by -44.6% against the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 188% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, hairpin imports declined sharply to $X in 2021. In general, imports, however, showed moderate growth. The pace of growth appeared the most rapid in 2014 with an increase of 161% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hairpin to Kuwait, with a 28% share of total imports. Moreover, hairpin imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. The third position in this ranking was held by Madagascar (X tons), with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+14.7% per year) and Madagascar (+54.6% per year).

In value terms, China ($X) constituted the largest supplier of hairpin to Kuwait, comprising 23% of total imports. The second position in the ranking was held by Madagascar ($X), with a 9.2% share of total imports. It was followed by Albania, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Madagascar (+27.1% per year) and Albania (+20.0% per year).

Import Prices by Country

The average hairpin import price stood at $X per ton in 2021, growing by 27% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin import price increased by +29.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 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, the country with the highest price was Indonesia ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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