Kuwait: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Market Size for Tubes, Pipes And Hoses Of Vulcanized Rubber in Kuwait

The Kuwaiti rubber tube and pipe market surged to $X in 2021, growing by 35% 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). In general, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports from Kuwait

In 2021, rubber tube and pipe exports from Kuwait fell remarkably to X tons, dropping by -78.6% on the previous year. In general, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2015 when exports increased by 791% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, rubber tube and pipe exports dropped rapidly to $X in 2021. Over the period under review, exports showed a abrupt contraction. The growth pace was the most rapid in 2015 when exports increased by 1,423%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) was the main destination for rubber tube and pipe exports from Kuwait, with a 87% share of total exports. Moreover, rubber tube and pipe exports to Iraq exceeded the volume sent to the second major destination, Saudi Arabia (X kg), more than tenfold. Bahrain (X kg) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq totaled +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+10.8% per year) and Bahrain (-25.3% per year).

In value terms, Iraq ($X) emerged as the key foreign market for tubes, pipes and hoses of vulcanized rubber exports from Kuwait, comprising 54% of total exports. The second position in the ranking was taken by Bahrain ($X), with an 8.4% share of total exports. It was followed by Saudi Arabia, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Iraq stood at +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-27.7% per year) and Saudi Arabia (+27.0% per year).

Export Prices by Country

In 2021, the average rubber tube and pipe export price amounted to $X per ton, which is down by -60% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 159% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Nigeria ($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 Bangladesh (+112.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports into Kuwait

In 2021, overseas purchases of tubes, pipes and hoses of vulcanized rubber were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 102% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, rubber tube and pipe imports surged to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 79%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Bahrain (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of rubber tube and pipe imports to Kuwait, with a combined 75% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +234.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Bahrain ($X) constituted the largest supplier of tubes, pipes and hoses of vulcanized rubber to Kuwait, comprising 61% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by China, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from Bahrain amounted to +208.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-20.9% per year) and China (-9.1% per year).

Import Prices by Country

The average rubber tube and pipe import price stood at $X per ton in 2021, with a decrease of -8.7% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the average import price increased by 66%. The import price peaked at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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