Kuwait: Market for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone 2024

Market Size for Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone in Kuwait

The Kuwaiti market for tiles, flagstones and similar articles of cement, concrete or artificial stone surged to $X in 2021, jumping by 23% 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 continues to indicate a mild descent. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Exports from Kuwait

In 2021, shipments abroad of tiles, flagstones and similar articles of cement, concrete or artificial stone decreased by -28.7% to X tons, falling for the second year in a row after six years of growth. Overall, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 66%. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone rose to $X in 2021. In general, exports faced a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) was the main destination for exports of tiles, flagstones and similar articles of cement, concrete or artificial stone from Kuwait, accounting for a 85% share of total exports. Moreover, exports of tiles, flagstones and similar articles of cement, concrete or artificial stone to Iraq exceeded the volume sent to the second major destination, Qatar (X tons), eightfold. Jordan (X tons) ranked third in terms of total exports with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq stood at -19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+32.6% per year) and Jordan (+18.4% per year).

In value terms, Iraq ($X) remains the key foreign market for tiles, flagstones and similar articles of cement, concrete or artificial stone exports from Kuwait, comprising 80% of total exports. The second position in the ranking was held by Qatar ($X), with a 12% share of total exports. It was followed by Jordan, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iraq amounted to -15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+36.6% per year) and Jordan (+27.2% per year).

Export Prices by Country

The average export price for tiles, flagstones and similar articles of cement, concrete or artificial stone stood at $X per ton in 2021, with an increase of 43% against the previous year. Over the period under review, the export price posted a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 70%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Jordan ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tiles, Flagstones And Similar Articles Of Cement, Concrete Or Artificial Stone

Imports into Kuwait

In 2021, approx. X tons of tiles, flagstones and similar articles of cement, concrete or artificial stone were imported into Kuwait; which is down by -16.6% against the year before. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 136% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports of remained at a lower figure.

In value terms, imports of tiles, flagstones and similar articles of cement, concrete or artificial stone soared to $X in 2021. Overall, imports, however, continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 85%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of imports of tiles, flagstones and similar articles of cement, concrete or artificial stone to Kuwait, with a combined 59% share of total imports. These countries were followed by Italy, Iran, India and Jordan, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +37.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tiles, flagstones and similar articles of cement, concrete or artificial stone suppliers to Kuwait were China ($X), Italy ($X) and Saudi Arabia ($X), together accounting for 54% of total imports. These countries were followed by India, the United Arab Emirates, Iran and Jordan, which together accounted for a further 14%.

India, with a CAGR of +34.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tiles, flagstones and similar articles of cement, concrete or artificial stone stood at $X per ton in 2021, increasing by 93% against the previous year. Over the period under review, the import price saw a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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