Kuwait: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Market Size for Plastic Plates, Sheets, Film, Foil And Strip in Kuwait

The Kuwaiti market for plastic plates, sheets, film, foil and strip expanded markedly to $X in 2021, picking up by 6% against the previous year. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked in 2021 and is expected to retain growth in the immediate term.

Production of Plastic Plates, Sheets, Film, Foil And Strip in Kuwait

In value terms, production of plastic plates, sheets, film, foil and strip expanded slightly to $X in 2021 estimated in export price. Overall, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.9% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 29% against the previous year. Over the period under review, production of reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports from Kuwait

In 2021, after two years of growth, there was significant decline in overseas shipments of plastic plates, sheets, film, foil and strip, when their volume decreased by -20.8% to X tons. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 111% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of plastic plates, sheets, film, foil and strip contracted rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 98% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for exports of plastic plates, sheets, film, foil and strip from Kuwait, accounting for a 56% share of total exports. Moreover, exports of plastic plates, sheets, film, foil and strip to Saudi Arabia exceeded the volume sent to the second major destination, Iraq (X tons), threefold. The third position in this ranking was held by Qatar (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia totaled +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+7.3% per year) and Qatar (+37.7% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for plastic plates, sheets, film, foil and strip exports from Kuwait, comprising 66% of total exports. The second position in the ranking was taken by Qatar ($X), with an 11% share of total exports. It was followed by Iraq, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+33.5% per year) and Iraq (-4.5% per year).

Export Prices by Country

The average export price for plastic plates, sheets, film, foil and strip stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price saw a pronounced decrease. The growth pace was the most rapid in 2015 an increase of 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Iraq ($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 the United Arab Emirates (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports into Kuwait

In 2021, the amount of plastic plates, sheets, film, foil and strip imported into Kuwait soared to X tons, rising by 16% against 2020 figures. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Over the period under review, imports of hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, imports of plastic plates, sheets, film, foil and strip soared to $X in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 19%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest plastic plate, sheet, film, foil and strip supplier to Kuwait, accounting for a 32% share of total imports. Moreover, imports of plastic plates, sheets, film, foil and strip from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia totaled +34.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.1% per year) and India (+32.7% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of plastic plates, sheets, film, foil and strip to Kuwait, comprising 31% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia stood at +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.2% per year) and South Korea (+15.7% per year).

Import Prices by Country

In 2021, the average import price for plastic plates, sheets, film, foil and strip amounted to $X per ton, rising by 2.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 4.1%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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