Kuwait: Marble Building Stone Market 2024

Marble Building Stone Market Size in Kuwait

After two years of decline, the Kuwaiti marble building stone market increased by 59% to $X in 2021. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Marble Building Stone Exports

Exports from Kuwait

Marble building stone exports from Kuwait fell remarkably to X tons in 2021, which is down by -90.7% on the previous year. Over the period under review, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 1,861%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, marble building stone exports shrank notably to $X in 2021. Overall, exports, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2017 with an increase of 715% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for marble building stone exports from Kuwait, with a 67% share of total exports. Moreover, marble building stone exports to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. Bahrain (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Qatar totaled +69.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-13.7% per year) and Bahrain (+15.0% per year).

In value terms, the largest markets for marble building stone exported from Kuwait were Qatar ($X), Saudi Arabia ($X) and Bahrain ($X), with a combined 94% share of total exports.

In terms of the main countries of destination, Qatar, with a CAGR of +72.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average marble building stone export price stood at $X per ton in 2021, surging by 21% against the previous year. Overall, the export price, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by 100% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Qatar ($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 Iraq (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Marble Building Stone Imports

Imports into Kuwait

In 2021, approx. X tons of marble building stone were imported into Kuwait; with an increase of 46% against the previous year. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +11.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 70%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, marble building stone imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Turkey (X tons) and Egypt (X tons) were the main suppliers of marble building stone imports to Kuwait, with a combined 64% share of total imports. These countries were followed by Spain, China, Iran, Portugal, Oman, India and the United Arab Emirates, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +28.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Turkey ($X) and Egypt ($X) were the largest marble building stone suppliers to Kuwait, together accounting for 65% of total imports. These countries were followed by Spain, China, Portugal, Oman, Iran, the United Arab Emirates and India, which together accounted for a further 28%.

In terms of the main suppliers, Portugal, with a CAGR of +23.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average marble building stone import price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. The growth pace was the most rapid in 2020 an increase of 25%. The import price peaked at $X per ton in 2012; however, from 2013 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 the United Arab Emirates ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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