Kuwait: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in Kuwait

The Kuwaiti iron or steel can market soared to $X in 2021, picking up by 143% 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 enjoyed significant growth. Iron or steel can consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Iron or Steel Cans

Exports from Kuwait

In 2021, after four years of growth, there was significant decline in shipments abroad of iron or steel cans, when their volume decreased by -99.6% to X units. Over the period under review, exports, however, enjoyed measured growth. The most prominent rate of growth was recorded in 2019 with an increase of 882%. The exports peaked at X units in 2020, and then dropped notably in the following year.

In value terms, iron or steel can exports contracted significantly to $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 796%. Over the period under review, the exports reached the maximum at $X in 2020, and then declined dramatically in the following year.

Exports by Country

Qatar (X units), Iran (X units) and the United Arab Emirates (X units) were the main destinations of iron or steel can exports from Kuwait.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +25.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Qatar ($X) remains the key foreign market for iron or steel cans exports from Kuwait, comprising 72% of total exports. The second position in the ranking was held by Iran ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar stood at +37.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-5.3% per year) and the United Arab Emirates (-25.7% per year).

Export Prices by Country

The average iron or steel can export price stood at $X per unit in 2021, picking up by 97% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable shrinkage. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Qatar ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+9.1%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Cans

Imports into Kuwait

In 2021, the amount of iron or steel cans imported into Kuwait expanded slightly to X units, increasing by 2.8% on 2020. Over the period under review, imports showed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 609%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, iron or steel can imports surged to $X in 2021. In general, imports saw a significant increase. The growth pace was the most rapid in 2014 when imports increased by 896% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X units) constituted the largest iron or steel can supplier to Kuwait, with a 74% share of total imports. Moreover, iron or steel can imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X units), sixfold. The third position in this ranking was taken by Italy (X units), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.1% per year) and Italy (+136.0% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of iron or steel cans to Kuwait, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Italy, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia stood at +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+39.5% per year) and Italy (+118.6% per year).

Import Prices by Country

The average iron or steel can import price stood at $X per unit in 2021, increasing by 27% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron or steel can import price increased by +29.7% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 40%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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