Kuwait: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in Kuwait

After four years of growth, the Kuwaiti non-reinforced rubber tubing market decreased by -73.9% to $X in 2021. Overall, consumption showed a mild slump. Over the period under review, the market hit record highs at $X in 2020, and then contracted sharply in the following year.

Non-Reinforced Rubber Tubing Exports

Exports from Kuwait

For the third year in a row, Kuwait recorded decline in overseas shipments of rubber tubing not reinforced, which decreased by -64.5% to X tons in 2021. Overall, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 1,177%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, non-reinforced rubber tubing exports declined remarkably to $X in 2021. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2015 when exports increased by 906%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Pakistan (X tons), the United Arab Emirates (X kg) and India (X kg) were the main destinations of non-reinforced rubber tubing exports from Kuwait, together accounting for 93% of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +17.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Pakistan ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the largest markets for non-reinforced rubber tubing exported from Kuwait worldwide, with a combined 74% share of total exports.

Pakistan, with a CAGR of +19.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average non-reinforced rubber tubing export price stood at $X per ton in 2021, declining by -39% against the previous year. In general, the export price, however, saw a modest increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 122% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to India ($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 Saudi Arabia (+49.2%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Reinforced Rubber Tubing Imports

Imports into Kuwait

After four years of growth, purchases abroad of rubber tubing not reinforced decreased by -73.9% to X tons in 2021. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 180% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then contracted remarkably in the following year.

In value terms, non-reinforced rubber tubing imports fell rapidly to $X in 2021. Over the period under review, imports, however, saw a slight expansion. The pace of growth was the most pronounced in 2013 when imports increased by 218%. Over the period under review, imports hit record highs at $X in 2020, and then fell dramatically in the following year.

Imports by Country

In 2021, Bahrain (X tons) constituted the largest supplier of non-reinforced rubber tubing to Kuwait, with a 76% share of total imports. Moreover, non-reinforced rubber tubing imports from Bahrain exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), ninefold. China (X tons) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bahrain amounted to +166.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-18.9% per year) and China (+2.5% per year).

In value terms, Bahrain ($X) constituted the largest supplier of rubber tubing not reinforced to Kuwait, comprising 90% of total imports. The second position in the ranking was held by Japan ($X), with a 2.4% share of total imports. It was followed by the United Arab Emirates, with a 1.2% share.

From 2012 to 2021, the average annual growth rate of value from Bahrain totaled +157.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+11.8% per year) and the United Arab Emirates (-25.8% per year).

Import Prices by Country

The average non-reinforced rubber tubing import price stood at $X per ton in 2021, approximately reflecting the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-reinforced rubber tubing import price increased by +20.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 60% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 Japan ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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