Kuwait: Market for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning 2024

Market Size for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Kuwait

In 2021, after two years of growth, there was significant decline in the Kuwaiti market for other synthetic tow and staple not carded, combed or otherwise processed for spinning, when its value decreased by -8.5% to $X. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +29.0% against 2018 indices. As a result, consumption reached the peak level of $X, and then declined in the following year.

Production of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Kuwait

In value terms, production of other synthetic tow and staple not carded, combed or otherwise processed for spinning shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded strong growth. The growth pace was the most rapid in 2020 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

Exports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Exports from Kuwait

For the fourth year in a row, Kuwait recorded growth in shipments abroad of other synthetic tow and staple not carded, combed or otherwise processed for spinning, which increased by 0.5% to X tons in 2021. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 505% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning reached $X in 2021. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 940%. Over the period under review, the exports of hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Qatar (X tons) was the main destination for exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from Kuwait, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Qatar stood at +47.8%.

In value terms, Qatar ($X) also remains the key foreign market for other synthetic tow and staple not carded, combed or otherwise processed for spinning exports from Kuwait.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar stood at +82.5%.

Export Prices by Country

In 2021, the average export price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, approximately reflecting the previous year. Overall, the export price, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2019 an increase of 451% against the previous year. The export price peaked at $X per ton in 2020, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for Qatar.

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to +23.4% per year.

Imports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Imports into Kuwait

Imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning into Kuwait surged to X tons in 2021, increasing by 88% against 2020. In general, imports recorded notable growth. The pace of growth was the most pronounced in 2013 with an increase of 576%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning soared to $X in 2021. Overall, imports enjoyed a measured increase. The most prominent rate of growth was recorded in 2013 when imports increased by 587% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of other synthetic tow and staple not carded, combed or otherwise processed for spinning to Kuwait, with a 70% share of total imports. Moreover, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from Saudi Arabia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sevenfold. The third position in this ranking was taken by China (X tons), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-2.1% per year) and China (-7.1% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of other synthetic tow and staple not carded, combed or otherwise processed for spinning to Kuwait, comprising 57% of total imports. The second position in the ranking was held by Germany ($X), with a 27% share of total imports. It was followed by China, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.6% per year) and China (+0.0% per year).

Import Prices by Country

In 2021, the average import price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, which is down by -11% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 12%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for South Korea ($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 Netherlands (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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