Kuwait: Base Metal Clasp Market 2024

Base Metal Clasp Market Size in Kuwait

The Kuwaiti base metal clasp market fell remarkably to $X in 2023, dropping by X% 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). In general, consumption, however, showed a resilient expansion. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Base Metal Clasp Exports

Exports from Kuwait

In 2023, overseas shipments of articles such as clasps, frames with clasps, parts of base metal increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, base metal clasp exports declined sharply to $X in 2023. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Lebanon (X tons) was the main destination for base metal clasp exports from Kuwait, with a X% share of total exports. It was followed by Saudi Arabia (X kg), with a X% share of total exports. Qatar (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Lebanon stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

In value terms, the largest markets for base metal clasp exported from Kuwait were Saudi Arabia ($X), Lebanon ($X) and the United Arab Emirates ($X), together comprising X% of total exports.

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

Export Prices by Country

In 2023, the average base metal clasp export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, 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 Bahrain ($X per ton), while the average price for exports to Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Clasp Imports

Imports into Kuwait

In 2023, supplies from abroad of articles such as clasps, frames with clasps, parts of base metal decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, base metal clasp imports reduced sharply to $X in 2023. In general, imports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then declined remarkably in the following year.

Imports by Country

In 2023, Greece (X tons) constituted the largest supplier of base metal clasp to Kuwait, accounting for a X% share of total imports. Moreover, base metal clasp imports from Greece exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Greece stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and China (X% per year).

In value terms, Greece ($X), China ($X) and Switzerland ($X) appeared to be the largest base metal clasp suppliers to Kuwait, together accounting for X% of total imports.

In terms of the main suppliers, Greece, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average base metal clasp import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price, however, showed a pronounced increase. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2021; however, from 2022 to 2023, 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 Taiwan (Chinese) ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lebanon (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform