Kuwait: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Kuwait

The Kuwaiti reclaimed rubber market rose sharply to $X in 2021, growing by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a perceptible downturn. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Reclaimed Rubber Exports

Exports from Kuwait

In 2021, approx. X tons of reclaimed rubber were exported from Kuwait; growing by 6.4% against the year before. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 71% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, reclaimed rubber exports rose markedly to $X in 2021. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 82% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X tons) was the main destination for reclaimed rubber exports from Kuwait, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +15.5%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for reclaimed rubber exports from Kuwait.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +25.6%.

Export Prices by Country

In 2021, the average reclaimed rubber export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, reclaimed rubber export price increased by +48.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 74% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +8.7% per year.

Reclaimed Rubber Imports

Imports into Kuwait

Reclaimed rubber imports into Kuwait surged to X tons in 2021, jumping by 19% on the previous year's figure. Over the period under review, imports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2019 when imports increased by 440% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, reclaimed rubber imports reached $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 327%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Italy (X tons), the Netherlands (X tons) and Portugal (X tons) were the main suppliers of reclaimed rubber imports to Kuwait, together comprising 54% of total imports. These countries were followed by the United States, China, Canada, Belgium, Malaysia and Germany, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +38.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest reclaimed rubber suppliers to Kuwait were Italy ($X), Belgium ($X) and the United States ($X), together accounting for 38% of total imports. These countries were followed by Portugal, the Netherlands, Canada, Malaysia, China and Germany, which together accounted for a further 27%.

In terms of the main suppliers, Canada, with a CAGR of +33.7%, 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 reclaimed rubber import price stood at $X per ton in 2021, which is down by -7.3% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, reclaimed rubber import price decreased by -32.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 88% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average 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 Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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