Kuwait: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Kuwait

The Kuwaiti vulcanised cellular rubber articles market was estimated at $X in 2021, growing by 3.9% 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). Overall, consumption saw a perceptible increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from Kuwait

In 2021, after two years of growth, there was significant decline in shipments abroad of vulcanised cellular rubber articles for technical uses, when their volume decreased by -40.5% to X tons. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 1,960%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, vulcanised cellular rubber articles exports expanded to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 1,438%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for vulcanised cellular rubber articles exports from Kuwait, with a 76% share of total exports. Moreover, vulcanised cellular rubber articles exports to Bahrain exceeded the volume sent to the second major destination, Qatar (X kg), fourfold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume to Bahrain totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+1.7% per year) and the United Arab Emirates (-12.9% per year).

In value terms, Bahrain ($X) remains the key foreign market for vulcanised cellular rubber articles for technical uses exports from Kuwait, comprising 93% of total exports. The second position in the ranking was held by Qatar ($X), with a 6% share of total exports. It was followed by Saudi Arabia, with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-8.9% per year) and Saudi Arabia (-23.7% per year).

Export Prices by Country

The average vulcanised cellular rubber articles export price stood at $X per ton in 2021, with an increase of 71% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Bahrain ($X per ton), while the average price for exports to Oman ($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 Bahrain (-2.0%), while the prices for the other major destinations experienced a decline.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into Kuwait

Vulcanised cellular rubber articles imports into Kuwait skyrocketed to X tons in 2021, rising by 22% compared with the previous year. Over the period under review, imports recorded a moderate increase. The pace of growth was the most pronounced in 2019 with an increase of 117% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, vulcanised cellular rubber articles imports fell to $X in 2021. In general, imports posted a noticeable increase. The most prominent rate of growth was recorded in 2019 with an increase of 91%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Saudi Arabia (X tons) were the main suppliers of vulcanised cellular rubber articles imports to Kuwait, together comprising 78% of total imports. These countries were followed by Greece, Bahrain, Turkey, Germany, Iran and the United States, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +147.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised cellular rubber articles suppliers to Kuwait were China ($X), the United Arab Emirates ($X) and Germany ($X), with a combined 57% share of total imports. Greece, Saudi Arabia, Turkey, Bahrain, Iran and the United States lagged somewhat behind, together comprising a further 17%.

Greece, with a CAGR of +64.5%, recorded the highest growth rate of 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

In 2021, the average vulcanised cellular rubber articles import price amounted to $X per ton, which is down by -18.6% against the previous year. In general, the import price continues to indicate a slight decline. The growth pace was the most rapid in 2014 an increase of 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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