Kuwait: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Kuwait

The Kuwaiti stainless steel seamless pipe market fell notably to $X in 2022, waning by X% against the previous year. Overall, consumption, however, posted a strong expansion. As a result, consumption reached the peak level of $X, and then contracted notably in the following year.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Kuwait

In value terms, stainless steel seamless pipe production rose slightly to $X in 2022 estimated in export price. Overall, production enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports from Kuwait

In 2022, overseas shipments of stainless steel seamless pipe for oil and gas decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, stainless steel seamless pipe exports fell to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank in the following year.

Exports by Country

Qatar (X tons), Saudi Arabia (X tons) and Pakistan (X tons) were the main destinations of stainless steel seamless pipe exports from Kuwait, with a combined X% share of total exports.

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

In value terms, Qatar ($X) remains the key foreign market for stainless steel seamless pipe for oil and gas exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Bahrain, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

The average stainless steel seamless pipe export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price faced a abrupt downturn. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Pakistan ($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 (X%), while the prices for the other major destinations experienced a decline.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports into Kuwait

In 2022, the amount of stainless steel seamless pipe for oil and gas imported into Kuwait reduced sharply to X tons, which is down by X% compared with the previous year's figure. Over the period under review, imports, however, posted a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted remarkably in the following year.

In value terms, stainless steel seamless pipe imports reduced remarkably to $X in 2022. Overall, imports, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Singapore (X tons), the United Arab Emirates (X tons) and Japan (X tons) were the main suppliers of stainless steel seamless pipe imports to Kuwait, with a combined X% share of total imports. India, Taiwan (Chinese), China and Finland lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest stainless steel seamless pipe suppliers to Kuwait were Singapore ($X), Japan ($X) and India ($X), together accounting for X% of total imports. The United Arab Emirates, China, Finland and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Finland, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average stainless steel seamless pipe import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average 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 China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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