Kuwait: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Kuwait

In 2022, the Kuwaiti wooden furniture treatments market decreased by -9% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Wooden Furniture Treatments Exports

Exports from Kuwait

Wooden furniture treatments exports from Kuwait fell to X tons in 2022, with a decrease of -5.5% on the previous year. Overall, exports faced a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 268% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden furniture treatments exports declined sharply to $X in 2022. In general, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 273%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X tons), Oman (X tons) and Yemen (X tons) were the main destinations of wooden furniture treatments exports from Kuwait, with a combined 53% share of total exports. Qatar, Saudi Arabia, Libya, Syrian Arab Republic and the United Arab Emirates lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of -2.0%), while the other leaders experienced a decline.

In value terms, Oman ($X), Qatar ($X) and Yemen ($X) were the largest markets for wooden furniture treatments exported from Kuwait worldwide, with a combined 52% share of total exports.

Among the main countries of destination, Qatar, with a CAGR of +1.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average wooden furniture treatments export price amounted to $X per ton, declining by -10.1% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden furniture treatments export price increased by +16.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 29%. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Furniture Treatments Imports

Imports into Kuwait

In 2022, supplies from abroad of polishes and creams for wooden furniture and floors decreased by -11.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 140% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden furniture treatments imports reduced to $X in 2022. In general, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 182% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest supplier of wooden furniture treatments to Kuwait, accounting for a 30% share of total imports. Moreover, wooden furniture treatments imports from the UK exceeded the figures recorded by the second-largest supplier, Jordan (X tons), twofold. The third position in this ranking was held by Egypt (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+0.5% per year) and Egypt (+36.6% per year).

In value terms, the largest wooden furniture treatments suppliers to Kuwait were the UK ($X), Egypt ($X) and Oman ($X), with a combined 60% share of total imports.

Among the main suppliers, Egypt, with a CAGR of +39.6%, 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

The average wooden furniture treatments import price stood at $X per ton in 2022, rising by 5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 24%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 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 Italy ($X per ton), while the price for Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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