Kuwait: Plastic Support Market 2024

Plastic Support Market Size in Kuwait

The Kuwaiti plastic support market was finally on the rise to reach $X in 2022, after three years of decline. Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Support Production in Kuwait

In value terms, plastic support production stood at $X in 2022 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -13.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 60%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Plastic Support Exports

Exports from Kuwait

In 2022, overseas shipments of spools, cops and similar supports of plastics decreased by -27.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 743% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic support exports declined modestly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 626% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), Qatar (X tons) and Iraq (X tons) were the main destinations of plastic support exports from Kuwait, together accounting for 98% of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +133.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic support exported from Kuwait were Saudi Arabia ($X), Qatar ($X) and Iraq ($X), together comprising 97% of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of +105.3%, 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 more modest paces of growth.

Export Prices by Country

The average plastic support export price stood at $X per ton in 2022, with an increase of 32% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Iraq ($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 the United Arab Emirates (+2.2%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Support Imports

Imports into Kuwait

In 2022, plastic support imports into Kuwait reduced to X tons, shrinking by -10.1% on 2021 figures. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 30%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, plastic support imports reduced to $X in 2022. In general, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +1.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 52%. Over the period under review, imports attained the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Saudi Arabia (X tons) were the main suppliers of plastic support imports to Kuwait, with a combined 61% share of total imports. Italy, France, the United States, Bahrain, India, Egypt, Turkey and Spain lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +118.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support suppliers to Kuwait were China ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together accounting for 51% of total imports.

Saudi Arabia, with a CAGR of +140.4%, recorded 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 plastic support import price amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 17% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :