Kuwait: Market for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers 2024

Market Size for Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Kuwait

In 2022, the Kuwaiti spindles and spindle flyer market decreased by -37.2% to $X, falling for the fifth year in a row after four years of growth. In general, consumption showed a deep slump. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers in Kuwait

In value terms, spindles and spindle flyer production reduced to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 44% against the previous year. Spindles and spindle flyer production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Exports from Kuwait

In 2022, spindles and spindle flyer exports from Kuwait surged to X tons, rising by 28% on the year before. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 236% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, spindles and spindle flyer exports contracted to $X in 2022. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 135%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for spindles and spindle flyer exports from Kuwait, with a 69% share of total exports. Moreover, spindles and spindle flyer exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sixfold. The third position in this ranking was held by Egypt (X kg), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia totaled +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+74.2% per year) and Egypt (+2.9% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for spindles and spindle flyers, spinning ring and ring travellers exports from Kuwait, comprising 83% of total exports. The second position in the ranking was taken by Egypt ($X), with a 5.2% share of total exports. It was followed by Qatar, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia stood at +29.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-8.6% per year) and Qatar (-0.4% per year).

Export Prices by Country

In 2022, the average spindles and spindle flyer export price amounted to $X per ton, shrinking by -32.8% against the previous year. In general, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2015 an increase of 163%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($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 Jordan (-3.7%), while the prices for the other major destinations experienced a decline.

Imports of Spindles And Spindle Flyers, Spinning Ring And Ring Travellers

Imports into Kuwait

Spindles and spindle flyer imports into Kuwait soared to X kg in 2022, picking up by 261% on the previous year. Overall, imports continue to indicate prominent growth. Over the period under review, imports reached the maximum at X kg in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, spindles and spindle flyer imports soared to $X in 2022. Over the period under review, imports, however, recorded a pronounced decline. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X kg), China (X kg) and Saudi Arabia (X kg) were the main suppliers of spindles and spindle flyer imports to Kuwait, together accounting for 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +58.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), India ($X) and the United States ($X) were the largest spindles and spindle flyer suppliers to Kuwait, with a combined 69% share of total imports.

Italy, with a CAGR of +25.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spindles and spindle flyer import price amounted to $X per ton, growing by 6.1% against the previous year. In general, the import price, however, faced a deep contraction. The pace of growth appeared the most rapid in 2016 an increase of 36% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 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 ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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