Kuwait: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2024

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in Kuwait

In 2021, the Kuwaiti market for tubes, pipes and hollow profiles (of iron or steel) decreased by -28.1% to $X, falling for the third year in a row after four years of growth. In general, consumption continues to indicate a noticeable shrinkage. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports from Kuwait

In 2021, approx. X tons of tubes, pipes and hollow profiles (of iron or steel) were exported from Kuwait; growing by 80% compared with the previous year's figure. Overall, exports posted modest growth. The pace of growth appeared the most rapid in 2016 with an increase of 226%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) soared to $X in 2021. In general, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2016 when exports increased by 396%. Over the period under review, the exports of reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for exports of tubes, pipes and hollow profiles (of iron or steel) from Kuwait, accounting for a 77% share of total exports. Moreover, exports of tubes, pipes and hollow profiles (of iron or steel) to India exceeded the volume sent to the second major destination, Pakistan (X tons), eightfold. Saudi Arabia (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +23.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+43.6% per year) and Saudi Arabia (-21.2% per year).

In value terms, India ($X) remains the key foreign market for tubes, pipes and hollow profiles (of iron or steel) exports from Kuwait, comprising 67% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 8.7% share of total exports. It was followed by Pakistan, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-26.6% per year) and Pakistan (+29.5% per year).

Export Prices by Country

The average export price for tubes, pipes and hollow profiles (of iron or steel) stood at $X per ton in 2021, falling by -15.8% against the previous year. Overall, the export price showed a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of 72%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 ($X per ton), while the average price for exports to Pakistan ($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 the United Arab Emirates (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports into Kuwait

In 2021, supplies from abroad of tubes, pipes and hollow profiles (of iron or steel) decreased by -32% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports recorded a perceptible contraction. The growth pace was the most rapid in 2016 when imports increased by 35% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) declined notably to $X in 2021. Overall, imports recorded a noticeable downturn. The growth pace was the most rapid in 2016 with an increase of 57%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United Arab Emirates (X tons) were the main suppliers of imports of tubes, pipes and hollow profiles (of iron or steel) to Kuwait, with a combined 65% share of total imports. Saudi Arabia, South Korea, Russia, Italy, Oman, India, Mexico and Indonesia lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +39.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel pipe and tube suppliers to Kuwait were Japan ($X), China ($X) and Saudi Arabia ($X), together accounting for 64% of total imports. The United Arab Emirates, Italy, South Korea, Indonesia, Mexico, Oman, India and Russia lagged somewhat behind, together comprising a further 27%.

Mexico, with a CAGR of +34.0%, recorded the highest rates of growth with regard to 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 2021, the average import price for tubes, pipes and hollow profiles (of iron or steel) amounted to $X per ton, rising by 10% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 16%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, 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 Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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