Kuwait: Sandstone Market 2024

Sandstone Market Size in Kuwait

The Kuwaiti sandstone market contracted rapidly to $X in 2022, which is down by -18% 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). Over the period under review, consumption, however, recorded a strong expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Sandstone Exports

Exports from Kuwait

In 2022, approx. X tons of sandstone were exported from Kuwait; increasing by 14% on the year before. Overall, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 159% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, sandstone exports expanded markedly to $X in 2022. Over the period under review, exports, however, showed a deep reduction. The growth pace was the most rapid in 2020 when exports increased by 81% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for sandstone exports from Kuwait, with a 90% share of total exports. Moreover, sandstone exports to the United Arab Emirates exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. France (X kg) ranked third in terms of total exports with a 0.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.7% per year) and France (-37.9% per year).

In value terms, the United States ($X), the United Arab Emirates ($X) and France ($X) appeared to be the largest markets for sandstone exported from Kuwait worldwide, together comprising 99% of total exports.

In terms of the main countries of destination, France, with a CAGR of +9.7%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average sandstone export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2015 an increase of 97% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United Arab Emirates ($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 Saudi Arabia (+427.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sandstone Imports

Imports into Kuwait

In 2022, sandstone imports into Kuwait contracted sharply to X tons, which is down by -17.6% on 2021. Overall, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 71% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sandstone imports dropped rapidly to $X in 2022. Over the period under review, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2013 when imports increased by 80% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Syrian Arab Republic (X tons) constituted the largest supplier of sandstone to Kuwait, with a 81% share of total imports. Moreover, sandstone imports from Syrian Arab Republic exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Syrian Arab Republic amounted to +77.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-7.4% per year) and the United Arab Emirates (+6.0% per year).

In value terms, Syrian Arab Republic ($X) constituted the largest supplier of sandstone to Kuwait, comprising 76% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Syrian Arab Republic totaled +60.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.3% per year) and the United Arab Emirates (+21.2% per year).

Import Prices by Country

In 2022, the average sandstone import price amounted to $X per ton, approximately equating the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sandstone import price increased by +1.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 52%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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