Kuwait: Market for Plastic Hoses and Hose Fittings 2024

Market Size for Plastic Hoses and Hose Fittings in Kuwait

The Kuwaiti market for plastic hoses and hose fittings was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption recorded a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Plastic Hoses and Hose Fittings

Exports from Kuwait

In 2021, after three years of decline, there was significant growth in overseas shipments of plastic hoses and hose fittings, when their volume increased by 11% to X tons. In general, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 81%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic hose and hose fitting exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 110%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Jordan (X tons) was the main destination for plastic hose and hose fitting exports from Kuwait, with a 57% share of total exports. Moreover, plastic hose and hose fitting exports to Jordan exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fourfold. The United Arab Emirates (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jordan totaled -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-22.1% per year) and the United Arab Emirates (+4.9% per year).

In value terms, Jordan ($X) emerged as the key foreign market for plastic hoses and hose fittings exports from Kuwait, comprising 52% of total exports. The second position in the ranking was held by Iraq ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Jordan stood at -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-19.1% per year) and the United Arab Emirates (+3.4% per year).

Export Prices by Country

In 2021, the average export price for plastic hoses and hose fittings amounted to $X per ton, growing by 27% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Iraq ($X per ton), while the average price for exports to Pakistan ($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 (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastic Hoses and Hose Fittings

Imports into Kuwait

In 2021, after six years of decline, there was growth in purchases abroad of plastic hoses and hose fittings, when their volume increased by 2.1% to X tons. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 90% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic hose and hose fitting imports skyrocketed to $X in 2021. Overall, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 84%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest plastic hose and hose fitting supplier to Kuwait, with a 41% share of total imports. Moreover, plastic hose and hose fitting imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Bahrain (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia stood at -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.1% per year) and Bahrain (+7.0% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of plastic hoses and hose fittings to Kuwait, comprising 21% of total imports. The second position in the ranking was taken by China ($X), with a 9.7% share of total imports. It was followed by Italy, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.2% per year) and Italy (+12.4% per year).

Import Prices by Country

In 2021, the average import price for plastic hoses and hose fittings amounted to $X per ton, with an increase of 32% against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Saudi Arabia ($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 States (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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