Kuwait: Market for Wood Chips, Parts, Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Chips, Parts, Residues, Pellets And Other Agglomerates in Kuwait

The Kuwaiti market for wood chips, parts, residues, pellets and other agglomerates rose notably to $X in 2021, increasing by 10% 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 strong growth. Consumption of peaked in 2021 and is expected to retain growth in the immediate term.

Exports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Exports from Kuwait

In 2021, exports of wood chips, parts, residues, pellets and other agglomerates from Kuwait soared to X cubic meters, with an increase of 92% compared with the year before. In general, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of wood chips, parts, residues, pellets and other agglomerates soared to $X in 2021. Over the period under review, exports showed a prominent increase. The growth pace was the most rapid in 2016 with an increase of 242%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Saudi Arabia (X cubic meters) was the main destination for exports of wood chips, parts, residues, pellets and other agglomerates from Kuwait, accounting for a 79% share of total exports. Moreover, exports of wood chips, parts, residues, pellets and other agglomerates to Saudi Arabia exceeded the volume sent to the second major destination, Oman (X cubic meters), sixfold. The third position in this ranking was held by the United Arab Emirates (X cubic meters), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia totaled +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+362.2% per year) and the United Arab Emirates (-13.1% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for wood chips, parts, residues, pellets and other agglomerates exports from Kuwait, comprising 82% of total exports. The second position in the ranking was taken by Qatar ($X), with a 6.1% share of total exports. It was followed by Oman, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia totaled +32.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-15.0% per year) and Oman (+236.2% per year).

Export Prices by Country

In 2021, the average export price for wood chips, parts, residues, pellets and other agglomerates amounted to $X per cubic meter, waning by -25% against the previous year. Over the period under review, the export price showed a mild shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 92% against the previous year. As a result, the export price reached the peak level of $X per cubic meter. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per cubic meter), while the average price for exports to the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Chips, Parts, Residues, Pellets And Other Agglomerates

Imports into Kuwait

In 2021, imports of wood chips, parts, residues, pellets and other agglomerates into Kuwait rose remarkably to X cubic meters, increasing by 6.9% compared with 2020. In general, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 69%. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, imports of wood chips, parts, residues, pellets and other agglomerates amounted to $X in 2021. Overall, imports recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 42% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, South Africa (X cubic meters) constituted the largest wood chips, parts, residues, pellets and other agglomerates supplier to Kuwait, with a 14% share of total imports. Moreover, imports of wood chips, parts, residues, pellets and other agglomerates from South Africa exceeded the figures recorded by the second-largest supplier, the Netherlands (X cubic meters), twofold. Ukraine (X cubic meters) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from South Africa amounted to +60.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+43.3% per year) and Ukraine (+19.1% per year).

In value terms, South Africa ($X), the Netherlands ($X) and Germany ($X) appeared to be the largest wood chips, parts, residues, pellets and other agglomerates suppliers to Kuwait, with a combined 22% share of total imports.

South Africa, with a CAGR of +48.5%, recorded the highest rates of growth with regard to 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

The average import price for wood chips, parts, residues, pellets and other agglomerates stood at $X per cubic meter in 2021, surging by 6.4% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 49%. As a result, import price reached the peak level of $X per cubic meter. From 2018 to 2021, the average 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 Bosnia and Herzegovina ($X per cubic meter), while the price for Spain (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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