Kuwait: Glass Fiber Market 2024

Glass Fiber Market Size in Kuwait

The Kuwaiti glass fiber market declined remarkably to $X in 2021, waning by -28.8% against the previous year. Overall, consumption saw a pronounced reduction. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Glass Fiber Production in Kuwait

In value terms, glass fiber production contracted slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 312%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Glass Fiber Exports

Exports from Kuwait

In 2021, shipments abroad of voiles, webs, mats and other articles of glass fibers was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, saw a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 294%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, glass fiber exports expanded remarkably to $X in 2021. Overall, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2018 when exports increased by 274%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main destinations of glass fiber exports from Kuwait, together comprising 73% of total exports. These countries were followed by Egypt, Pakistan, Iraq, Bahrain, Oman, China and Indonesia, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +95.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fiber exported from Kuwait were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), together accounting for 74% of total exports. These countries were followed by Egypt, Pakistan, China, Oman, Bahrain, Iraq and Indonesia, which together accounted for a further 16%.

China, with a CAGR of +133.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, declining by -3.2% against the previous year. Over the period under review, the export price saw a noticeable downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 4.2%. Over the period under review, the average export prices reached the peak figure 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 China ($X per ton), while the average price for exports to Indonesia ($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 China (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Kuwait

For the fourth year in a row, Kuwait recorded decline in purchases abroad of voiles, webs, mats and other articles of glass fibers, which decreased by -54.3% to X tons in 2021. In general, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 342% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, glass fiber imports dropped significantly to $X in 2021. Over the period under review, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 285% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of glass fiber to Kuwait, with a 55% share of total imports. Moreover, glass fiber imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia totaled -11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.6% per year) and the United Arab Emirates (-1.3% per year).

In value terms, Saudi Arabia ($X), China ($X) and the United Arab Emirates ($X) constituted the largest glass fiber suppliers to Kuwait, together accounting for 81% of total imports. Egypt lagged somewhat behind, comprising a further 1%.

Egypt, with a CAGR of +12.3%, saw 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 mixed trend patterns.

Import Prices by Country

The average glass fiber import price stood at $X per ton in 2021, increasing by 4.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 when the average import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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