Kuwait: Fromwork Market 2024

Fromwork Market Size in Kuwait

The Kuwaiti fromwork market declined to $X in 2022, with a decrease of -7% against the previous year. Over the period under review, consumption continues to indicate a abrupt descent. Fromwork consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Fromwork Production in Kuwait

In value terms, fromwork production soared to $X in 2022 estimated in export price. In general, production saw a significant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 207%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Fromwork Exports

Exports from Kuwait

In 2022, the amount of shuttering for concrete constructional work, shingles and shakes, of wood exported from Kuwait soared to X tons, rising by 837% against the year before. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fromwork exports skyrocketed to $X in 2022. Over the period under review, exports saw significant growth. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for fromwork exports from Kuwait, accounting for a 42% share of total exports. Moreover, fromwork exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X tons), twofold. The third position in this ranking was held by Bahrain (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+28.2% per year) and Bahrain (+13.8% per year).

In value terms, Qatar ($X), Saudi Arabia ($X) and Bahrain ($X) constituted the largest markets for fromwork exported from Kuwait worldwide, together comprising 89% of total exports.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +32.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fromwork export price stood at $X per ton in 2022, growing by 1.8% against the previous year. Over the period under review, the export price, however, saw a noticeable decline. The growth pace was the most rapid in 2013 when the average export price increased by 45% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Lebanon ($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 Bahrain (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Fromwork Imports

Imports into Kuwait

Fromwork imports into Kuwait dropped notably to X tons in 2022, falling by -17.3% compared with the year before. In general, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 87%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, fromwork imports reduced dramatically to $X in 2022. Overall, imports showed a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 72%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Germany (X tons) were the main suppliers of fromwork imports to Kuwait, with a combined 61% share of total imports. Austria, Poland, India, Malaysia and Saudi Arabia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +48.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of shuttering for concrete constructional work, shingles and shakes, of wood to Kuwait, comprising 67% of total imports. The second position in the ranking was held by Malaysia ($X), with an 8.6% share of total imports. It was followed by the United Arab Emirates, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+35.9% per year) and the United Arab Emirates (+22.6% per year).

Import Prices by Country

In 2022, the average fromwork import price amounted to $X per ton, growing by 1.8% against the previous year. In general, the import price showed a modest expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Malaysia ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform