Kuwait: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in Kuwait

In 2022, the Kuwaiti non-electric roasting furnace market decreased by -40.3% to $X, falling for the third year in a row after four years of growth. In general, consumption saw a perceptible shrinkage. Non-electric roasting furnace consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Non-Electric Roasting Furnace Production in Kuwait

In value terms, non-electric roasting furnace production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 57%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Electric Roasting Furnace Exports

Exports from Kuwait

In 2022, shipments abroad of non-electric furnaces and ovens for the roasting or melting decreased by -56.3% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 4,875%. As a result, the exports reached the peak of X units, and then fell notably in the following year.

In value terms, non-electric roasting furnace exports contracted dramatically to $X in 2022. In general, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 55,563%. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for non-electric roasting furnace exports from Kuwait, accounting for a 99% share of total exports. It was followed by Saudi Arabia (X units), with a 1.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to -5.9%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for non-electric furnaces and ovens for the roasting or melting exports from Kuwait, comprising 97% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +11.2%.

Export Prices by Country

The average non-electric roasting furnace export price stood at $X per unit in 2022, surging by 15% against the previous year. In general, the export price continues to indicate a buoyant expansion. The growth pace was the most rapid in 2019 an increase of 1,640% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Saudi Arabia ($X per unit), while the average price for exports to the United Arab Emirates amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+42.9%).

Non-Electric Roasting Furnace Imports

Imports into Kuwait

In 2022, the amount of non-electric furnaces and ovens for the roasting or melting imported into Kuwait contracted sharply to X units, which is down by -27.3% against 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 71%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-electric roasting furnace imports fell to $X in 2022. In general, imports, however, saw a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 260%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X units), Thailand (X units) and Poland (X units) were the main suppliers of non-electric roasting furnace imports to Kuwait, with a combined 19% share of total imports. China, Saudi Arabia, the United Arab Emirates, Germany, Turkey, Spain, France, Italy, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 63%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of 0.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-electric roasting furnace suppliers to Kuwait were the United Arab Emirates ($X), Spain ($X) and Germany ($X), together accounting for 43% of total imports.

The United Arab Emirates, with a CAGR of +59.4%, saw the highest growth rate of the value of imports, among 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 2022, the average non-electric roasting furnace import price amounted to $X per unit, jumping by 23% against the previous year. Overall, the import price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2017 an increase of 191%. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+59.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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