Kuwait: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2021

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Kuwait

The Kuwaiti market for iron, steel or aluminium reservoirs, tanks, vats and similar containers contracted significantly to $X in 2020, which is down by -X% 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). Overall, consumption continues to indicate a deep slump. The growth pace was the most rapid in 2009 when the market value increased by X% y-o-y. Iron, steel or aluminium reservoir consumption peaked at $X in 2017; however, from 2018 to 2020, consumption failed to regain the momentum.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports from Kuwait

In 2020, shipments abroad of iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by -X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% y-o-y. Exports peaked at X tons in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

In value terms, iron, steel or aluminium reservoir exports declined rapidly to $X in 2020. Overall, exports, however, saw a mild increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. from 2019 to 2020, the growth exports remained at a lower figure.

Exports by Country

Niger (X tons), Egypt (X tons) and Qatar (X tons) were the main destinations of iron, steel or aluminium reservoir exports from Kuwait, together comprising X% of total exports. Pakistan, Saudi Arabia, the U.S., the United Arab Emirates, Oman, Iran, Singapore, the UK and South Korea lagged somewhat behind, together comprising a further X 2007 to 2020, the biggest increases were in Pakistan (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron, steel or aluminium reservoir exported from Kuwait were Qatar ($X), the U.S. ($X) and Saudi Arabia ($X), together accounting for X% of total exports. The United Arab Emirates, Pakistan, Iran, Egypt, Oman, Niger, Singapore, South Korea and the UK lagged somewhat behind, together accounting for a further X terms of the main countries of destination, Pakistan (+X% per year) recorded the highest growth rate of 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 2020, the average export price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was the U.S. ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Singapore, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports into Kuwait

In 2020, approx. X tons of iron, steel or aluminium reservoirs, tanks, vats and similar containers were imported into Kuwait; which is down by -X% on 2019. Over the period under review, imports saw a abrupt descent. The growth pace was the most rapid in 2009 with an increase of X% year-to-year. Imports peaked at X tons in 2017; however, from 2018 to 2020, imports failed to regain the momentum.

In value terms, iron, steel or aluminium reservoir imports reduced sharply to $X in 2020. In general, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2012 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2007; however, from 2008 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of iron, steel or aluminium reservoir to Kuwait, with a X% share of total imports. Moreover, iron, steel or aluminium reservoir imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was occupied by Oman (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-X% per year) and Oman (+X% per year).

In value terms, the largest iron, steel or aluminium reservoir suppliers to Kuwait were China ($X), South Korea ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

China recorded 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 2020, the average import price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per ton, which is down by -X% against the previous year. Overall, the import price saw a perceptible downturn. The growth pace was the most rapid in 2012 an increase of X% y-o-y. Over the period under review, average import prices hit record highs at $X per ton in 2007; however, from 2008 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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