Kuwait: Carbides Market 2022

Carbides Market Size in Kuwait

The Kuwaiti carbides market reduced remarkably to $X in 2021, shrinking 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). Overall, consumption showed a deep reduction. Carbides consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Carbides Exports

Exports from Kuwait

In 2021, carbides exports from Kuwait surged to X tons, picking up by X% against the previous year. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, carbides exports expanded significantly to $X in 2021. Overall, exports, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for carbides exports from Kuwait, accounting for a X% share of total exports. It was followed by the United Arab Emirates (X tons), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia stood at +X%.

In value terms, Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the largest markets for carbides exported from Kuwait worldwide.

The United Arab Emirates, with a CAGR of +X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average carbides export price stood at $X per ton in 2021, declining by -X% against the previous year. In general, the export price, however, posted a measured increase. The pace of growth appeared the most rapid in 2020 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then contracted significantly in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+X%).

Carbides Imports

Imports into Kuwait

For the third consecutive year, Kuwait recorded decline in overseas purchases of carbides, which decreased by -X% to X tons in 2021. Over the period under review, imports recorded a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, carbides imports contracted to $X in 2021. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Africa (X tons) and Spain (X tons) were the main suppliers of carbides imports to Kuwait, with a combined X% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Africa ($X) and Spain ($X) constituted the largest carbides suppliers to Kuwait, together accounting for X% of total imports.

Among the main suppliers, China, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average carbides import price stood at $X per ton in 2021, growing by X% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carbides import price increased by +X% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform