Kuwait: Metal Wool Market 2025

Metal Wool Market Size in Kuwait

In 2022, after two years of growth, there was decline in the Kuwaiti metal wool market, when its value decreased by -3.3% to $X. In general, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Metal Wool Exports

Exports from Kuwait

In 2022, approx. X tons of iron or steel wool were exported from Kuwait; with an increase of 100% compared with the year before. Overall, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 372%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports surged to $X in 2022. In general, exports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 395% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X tons) was the main destination for metal wool exports from Kuwait, accounting for a 60% share of total exports. Moreover, metal wool exports to Iraq exceeded the volume sent to the second major destination, Saudi Arabia (X kg), threefold. The third position in this ranking was taken by Qatar (X kg), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq stood at -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+31.2% per year) and Qatar (+21.2% per year).

In value terms, Iraq ($X), Saudi Arabia ($X) and Qatar ($X) appeared to be the largest markets for metal wool exported from Kuwait worldwide, together accounting for 81% of total exports.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +54.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average metal wool export price amounted to $X per ton, picking up by 6.2% against the previous year. In general, the export price showed a moderate increase. The most prominent rate of growth was recorded in 2014 an increase of 114% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Nigeria ($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 the United Arab Emirates (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Imports

Imports into Kuwait

In 2022, overseas purchases of iron or steel wool increased by 1.1% to X tons, rising for the third year in a row after two years of decline. Overall, total imports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 94% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, metal wool imports contracted slightly to $X in 2022. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.5% against 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of 60%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest metal wool supplier to Kuwait, with a 52% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Jordan (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-0.3% per year) and Jordan (+19.4% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Kuwait, comprising 46% of total imports. The second position in the ranking was held by Jordan ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+17.8% per year) and the United Arab Emirates (-2.0% per year).

Import Prices by Country

The average metal wool import price stood at $X per ton in 2022, dropping by -4.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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 Jordan ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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