Kuwait: Market for Iron Or Steel Parts Of Articulated Link Chain 2024

Market Size for Iron Or Steel Parts Of Articulated Link Chain in Kuwait

The Kuwaiti metal link chain parts market soared to $X in 2021, rising by 1,200% 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. Metal link chain parts consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Iron Or Steel Parts Of Articulated Link Chain

Exports from Kuwait

In 2021, after three years of growth, there was significant decline in shipments abroad of iron or steel parts of articulated link chain, when their volume decreased by -96.5% to X kg. In general, exports continue to indicate a sharp slump. The growth pace was the most rapid in 2016 when exports increased by 801%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, metal link chain parts exports fell sharply to $X in 2021. Over the period under review, exports faced a precipitous slump. The pace of growth appeared the most rapid in 2016 with an increase of 401% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iraq (X kg) was the main destination for metal link chain parts exports from Kuwait, with a 87% share of total exports. Moreover, metal link chain parts exports to Iraq exceeded the volume sent to the second major destination, Pakistan (X kg), more than tenfold. Qatar (X kg) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq totaled -28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (0.0% per year) and Qatar (-36.5% per year).

In value terms, Qatar ($X) remains the key foreign market for iron or steel parts of articulated link chain exports from Kuwait, comprising 76% of total exports. The second position in the ranking was held by Pakistan ($X), with a 10% share of total exports. It was followed by the United Arab Emirates, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar totaled -16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (0.0% per year) and the United Arab Emirates (-22.7% per year).

Export Prices by Country

The average metal link chain parts export price stood at $X per ton in 2021, which is down by -24.7% against the previous year. In general, the export price, however, continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 an increase of 372%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, 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 ($X per ton), while the average price for exports to Iraq ($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 the United Arab Emirates (+65.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Parts Of Articulated Link Chain

Imports into Kuwait

In 2021, metal link chain parts imports into Kuwait surged to X tons, increasing by 126% against the previous year's figure. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by 281% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, metal link chain parts imports skyrocketed to $X in 2021. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 550% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), Italy (X kg) and Denmark (X kg) were the main suppliers of metal link chain parts imports to Kuwait, with a combined 40% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +106.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron or steel parts of articulated link chain to Kuwait, comprising 29% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 10% share of total imports. It was followed by Denmark, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +37.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+48.4% per year) and Denmark (+41.6% per year).

Import Prices by Country

In 2021, the average metal link chain parts import price amounted to $X per ton, increasing by 59% against the previous year. Overall, the import price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by 71% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+55.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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