Kuwait: Market for Iron Or Steel Anchors, Grapnels 2025

Market Size for Iron Or Steel Anchors, Grapnels in Kuwait

The Kuwaiti metal anchors and grapnels market rose modestly to $X in 2022, picking up by 4.6% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.9% against 2020 indices. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Production of Iron Or Steel Anchors, Grapnels in Kuwait

In value terms, metal anchors and grapnels production rose sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 185%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Iron Or Steel Anchors, Grapnels

Exports from Kuwait

In 2022, shipments abroad of iron or steel anchors, grapnels decreased by -2.7% to X units, falling for the fourth consecutive year after seven years of growth. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 313% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, metal anchors and grapnels exports fell modestly to $X in 2022. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 246% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for metal anchors and grapnels exports from Kuwait, with a 67% share of total exports. Moreover, metal anchors and grapnels exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), twofold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +38.7%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for iron or steel anchors, grapnels exports from Kuwait, comprising 67% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +33.8%.

Export Prices by Country

The average metal anchors and grapnels export price stood at $X per unit in 2022, approximately equating the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal anchors and grapnels export price increased by +72.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 72%. The export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+3.3%).

Imports of Iron Or Steel Anchors, Grapnels

Imports into Kuwait

In 2022, the amount of iron or steel anchors, grapnels imported into Kuwait fell markedly to X units, waning by -25.6% against the previous year's figure. In general, imports showed a deep downturn. The pace of growth was the most pronounced in 2017 when imports increased by 142% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal anchors and grapnels imports shrank to $X in 2022. Overall, imports, however, saw a measured increase. The most prominent rate of growth was recorded in 2017 when imports increased by 133%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), South Korea (X units) and Belgium (X units) were the main suppliers of metal anchors and grapnels imports to Kuwait, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +32.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Belgium ($X) constituted the largest metal anchors and grapnels suppliers to Kuwait, with a combined 83% share of total imports.

Belgium, with a CAGR of +46.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2022, the average metal anchors and grapnels import price amounted to $X per unit, jumping by 19% against the previous year. In general, the import price saw a strong increase. The growth pace was the most rapid in 2019 when the average import price increased by 73%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Belgium ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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