Kuwait: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Kuwait

The Kuwaiti vulcanised rubber thread market shrank rapidly to $X in 2021, which is down by -21.7% 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 faced a deep slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports from Kuwait

In 2019, approx. X tons of vulcanised rubber thread and cord were exported from Kuwait; falling by -88.5% against 2018 figures. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 68%. The exports peaked at X tons in 2018, and then dropped remarkably in the following year.

In value terms, vulcanised rubber thread exports contracted significantly to $X in 2019. Overall, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 83% against the previous year. The exports peaked at $X in 2018, and then dropped significantly in the following year.

Exports by Country

Qatar (X tons) was the main destination for vulcanised rubber thread exports from Kuwait, accounting for a 98% share of total exports. It was followed by Spain (X kg), with a 2% share of total exports.

From 2014 to 2019, the average annual rate of growth in terms of volume to Qatar was relatively modest.

In value terms, Qatar ($X) emerged as the key foreign market for vulcanised rubber thread and cord exports from Kuwait, comprising 78% of total exports. The second position in the ranking was taken by Spain ($X), with a 22% share of total exports.

From 2014 to 2019, the average annual growth rate of value to Qatar was relatively modest.

Export Prices by Country

In 2019, the average vulcanised rubber thread export price amounted to $X per ton, shrinking by -35.1% against the previous year. Overall, the export price saw a significant decline. The pace of growth appeared the most rapid in 2015 an increase of 9.2% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2019, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Qatar totaled $X per ton.

From 2014 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into Kuwait

For the third year in a row, Kuwait recorded decline in overseas purchases of vulcanised rubber thread and cord, which decreased by -28.8% to X tons in 2021. In general, imports recorded a deep downturn. The pace of growth was the most pronounced in 2018 when imports increased by 405%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber thread imports reduced remarkably to $X in 2021. Over the period under review, imports faced a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 274%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of vulcanised rubber thread imports to Kuwait, with a combined 74% share of total imports. These countries were followed by Taiwan (Chinese), Pakistan, the United States and Vietnam, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +51.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber thread suppliers to Kuwait were China ($X), Saudi Arabia ($X) and Malaysia ($X), together comprising 47% of total imports. These countries were followed by Taiwan (Chinese), the United States, Vietnam and Pakistan, which together accounted for a further 28%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +60.3%, recorded the highest growth rate of the value of imports, 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 rubber thread import price amounted to $X per ton, rising by 16% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber thread import price increased by +2.6% against 2017 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by 68%. The import price peaked 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 Vietnam ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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