Kuwait: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Kuwait

The Kuwaiti steel plaited band market shrank modestly to $X in 2022, almost unchanged from 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). Overall, consumption recorded a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Steel Plaited Band Exports

Exports from Kuwait

Steel plaited band exports from Kuwait surged to X tons in 2022, growing by 39% against the previous year's figure. In general, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 4,534%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, steel plaited band exports stood at $X in 2022. Over the period under review, exports, however, faced a deep slump. The pace of growth appeared the most rapid in 2014 when exports increased by 3,265%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Pakistan (X kg) was the main destination for steel plaited band exports from Kuwait, with a 45% share of total exports. Moreover, steel plaited band exports to Pakistan exceeded the volume sent to the second major destination, India (X kg), twofold. The third position in this ranking was taken by Qatar (X kg), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Pakistan totaled +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+42.4% per year) and Qatar (+2.3% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for iron or steel plaited bands and slings exports from Kuwait, comprising 37% of total exports. The second position in the ranking was held by Singapore ($X), with a 16% share of total exports. It was followed by Pakistan, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-11.2% per year) and Pakistan (+0.3% per year).

Export Prices by Country

In 2022, the average steel plaited band export price amounted to $X per ton, with a decrease of -27.3% against the previous year. Over the period under review, the export price saw a mild curtailment. The most prominent rate of growth was recorded in 2020 an increase of 79%. The export price peaked at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Pakistan ($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 Saudi Arabia (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into Kuwait

In 2022, overseas purchases of iron or steel plaited bands and slings increased by 4.3% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 638%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, steel plaited band imports dropped to $X in 2022. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 623% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of steel plaited band to Kuwait, with a 83% share of total imports. Moreover, steel plaited band imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +30.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+3.3% per year) and Turkey (+24.9% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of iron or steel plaited bands and slings to Kuwait, comprising 58% of total imports. The second position in the ranking was taken by South Korea ($X), with a 5.5% share of total imports. It was followed by Italy, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia amounted to +34.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.2% per year) and Italy (+23.1% per year).

Import Prices by Country

In 2022, the average steel plaited band import price amounted to $X per ton, waning by -9.7% against the previous year. In general, the import price showed a noticeable setback. The pace of growth was the most pronounced in 2021 when the average import price increased by 19%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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