Kuwait: Wooden Frame Market 2024

Wooden Frame Market Size in Kuwait

The Kuwaiti wooden frame market surged to $X in 2022, rising by 15% 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). Over the period under review, consumption continues to indicate noticeable growth. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Wooden Frame Exports

Exports from Kuwait

In 2022, wooden frame exports from Kuwait soared to X units, picking up by 70% against 2021. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 547%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, wooden frame exports surged to $X in 2022. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 529%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X units) was the main destination for wooden frame exports from Kuwait, accounting for a 90% share of total exports. Moreover, wooden frame exports to Qatar exceeded the volume sent to the second major destination, the United Arab Emirates (X units), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Qatar amounted to +49.4%.

In value terms, Qatar ($X) emerged as the key foreign market for wooden frames for paintings, photographs, mirrors or similar objects exports from Kuwait, comprising 82% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar totaled +30.7%.

Export Prices by Country

In 2022, the average wooden frame export price amounted to $X per unit, dropping by -14.2% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden frame export price increased by +8.3% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 27%. Over the period under review, the average export prices attained the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Qatar stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+82.3%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Frame Imports

Imports into Kuwait

In 2022, imports of wooden frames for paintings, photographs, mirrors or similar objects into Kuwait skyrocketed to X units, with an increase of 22% compared with the previous year. Over the period under review, imports enjoyed modest growth. The most prominent rate of growth was recorded in 2020 when imports increased by 108%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden frame imports skyrocketed to $X in 2022. In general, imports recorded a temperate expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 205% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Poland (X units), China (X units) and the United Arab Emirates (X units) were the main suppliers of wooden frame imports to Kuwait, together comprising 89% of total imports. The Netherlands, Thailand and the UK lagged somewhat behind, together comprising a further 6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +15.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Poland ($X) constituted the largest wooden frame suppliers to Kuwait, together accounting for 81% of total imports. Thailand, the UK and the Netherlands lagged somewhat behind, together comprising a further 11%.

Thailand, with a CAGR of +23.9%, 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

In 2022, the average wooden frame import price amounted to $X per unit, falling by -5.1% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden frame import price increased by +2.7% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of 50% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+95.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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