Kuwait: Artificial Fur Market 2022

Artificial Fur Market Size in Kuwait

The Kuwaiti artificial fur market stood at $X in 2021, with an increase of X% against the previous year. Overall, consumption showed a drastic downturn. Artificial fur consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Artificial Fur Production in Kuwait

In value terms, artificial fur production expanded to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Artificial Fur Exports

Exports from Kuwait

In 2021, shipments abroad of artificial fur decreased by X% to less than X kg, falling for the second year in a row after two years of decline. Over the period under review, exports saw a remarkable increase. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, artificial fur exports stood at less than $X in 2021. Overall, exports faced a abrupt descent. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X kg) and China (X kg) were the main destinations of artificial fur exports from Kuwait.

From 2012 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X 2012 to 2019, the average annual rate of growth in terms of value to Italy stood at -X%.

Export Prices by Country

The average artificial fur export price stood at $X per ton in 2019, leveling off at the previous year. Overall, the export price faced a sharp descent. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2019, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was Italy ($X per ton), while the average price for exports to China totaled $X per ton.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to China (X%).

Artificial Fur Imports

Imports into Kuwait

In 2021, after seven years of decline, there was significant growth in overseas purchases of artificial fur, when their volume increased by X% to X kg. Overall, imports, however, saw a dramatic downturn. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, artificial fur imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt descent. 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

China (X kg), Syrian Arab Republic (X kg) and the United Arab Emirates (X kg) were the main suppliers of artificial fur imports to Kuwait, with a combined X% share of total imports. These countries were followed by Poland, Romania, the UK and Italy, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of -X%), while imports for the other leaders experienced a decline.

In value terms, the UK ($X) constituted the largest supplier of artificial fur to Kuwait, comprising X% of total imports. The second position in the ranking was occupied by Italy ($X), with a X% share of total imports. It was followed by Romania, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Romania (-X% per year).

Import Prices by Country

The average artificial fur import price stood at $X per ton in 2021, rising by X% against the previous year. In general, the import price continues to indicate significant growth. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by the country of origin: the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform