Kuwait: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Kuwait

After two years of growth, the Kuwaiti plastic household articles market decreased by -17.7% to $X in 2022. In general, consumption continues to indicate a pronounced reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Plastic Household Articles Exports

Exports from Kuwait

After three years of decline, overseas shipments of household articles and toilet articles of plastics increased by 7% to X tons in 2022. In general, exports recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 809%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic household articles exports totaled $X in 2022. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2018 with an increase of 836%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main destinations of plastic household articles exports from Kuwait, with a combined 85% share of total exports. Oman, Iraq and Bahrain lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +178.6%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) remains the key foreign market for household articles and toilet articles of plastics exports from Kuwait, comprising 53% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total exports. It was followed by Saudi Arabia, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar totaled +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+8.5% per year) and Saudi Arabia (-4.1% per year).

Export Prices by Country

The average plastic household articles export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic household articles export price increased by +26.5% against 2013 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 53% against the previous year. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Iraq ($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 (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Articles Imports

Imports into Kuwait

In 2022, overseas purchases of household articles and toilet articles of plastics decreased by -15.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plastic household articles imports reduced to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic household articles to Kuwait, with a 39% share of total imports. Moreover, plastic household articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.4% per year) and the United Arab Emirates (-23.4% per year).

In value terms, China ($X) constituted the largest supplier of household articles and toilet articles of plastics to Kuwait, comprising 42% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Turkey, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-17.2% per year) and Turkey (+13.6% per year).

Import Prices by Country

The average plastic household articles import price stood at $X per ton in 2022, growing by 1.8% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic household articles import price decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 23%. The import price peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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