Kuwait: Plastic Supports Market 2024

Plastic Supports Market Size in Kuwait

The Kuwaiti plastic supports market surged to $X in 2022, with an increase of 85% 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 showed significant growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Supports Exports

Exports from Kuwait

In 2022, shipments abroad of spools, cops, bobbins and similar supports of plastics decreased by -13.4% to X kg, falling for the second year in a row after three years of growth. In general, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 127% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic supports exports fell to $X in 2022. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 61%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X kg) was the main destination for plastic supports exports from Kuwait, with a 71% share of total exports. Moreover, plastic supports exports to Saudi Arabia exceeded the volume sent to the second major destination, China (X kg), fourfold. Bahrain (X kg) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (0.0% per year) and Bahrain (-15.2% per year).

In value terms, the largest markets for plastic supports exported from Kuwait were China ($X), Saudi Arabia ($X) and Bahrain ($X), with a combined 97% share of total exports.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +5.4%, recorded the highest growth rate of 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 plastic supports export price amounted to $X per ton, standing approx. at the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 an increase of 80% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Saudi Arabia ($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 Iraq (+30.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Supports Imports

Imports into Kuwait

In 2022, approx. X tons of spools, cops, bobbins and similar supports of plastics were imported into Kuwait; growing by 63% compared with the previous year. Over the period under review, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 with an increase of 546%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic supports imports surged to $X in 2022. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 614% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and France (X tons) were the main suppliers of plastic supports imports to Kuwait, together comprising 58% of total imports. Thailand, Indonesia, Saudi Arabia, Canada and India lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +76.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of spools, cops, bobbins and similar supports of plastics to Kuwait, comprising 46% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by the United Arab Emirates, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from France stood at +40.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+37.4% per year) and the United Arab Emirates (+34.9% per year).

Import Prices by Country

The average plastic supports import price stood at $X per ton in 2022, surging by 24% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. The growth pace was the most rapid in 2018 an increase of 44%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 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 France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+50.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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