Kuwait: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Kuwait

The Kuwaiti ferro-alloys market dropped to $X in 2023, declining by X% against the previous year. Over the period under review, consumption faced a abrupt contraction. Ferro-alloys consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Ferro-Alloys Production in Kuwait

In value terms, ferro-alloys production amounted to $X in 2023 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Ferro-Alloys Exports

Exports from Kuwait

In 2023, ferro-alloys exports from Kuwait soared to X tons, growing by X% against 2022 figures. Over the period under review, exports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-alloys exports declined remarkably to $X in 2023. In general, exports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2022, and then fell markedly in the following year.

Exports by Country

India (X tons), Saudi Arabia (X tons) and Turkey (X tons) were the main destinations of ferro-alloys exports from Kuwait, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ferro-alloys exported from Kuwait were Saudi Arabia ($X), India ($X) and Turkey ($X), with a combined X% share of total exports.

In terms of the main countries of destination, India, with a CAGR of X%, saw the highest growth rate of 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

The average ferro-alloys export price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then contracted significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Italy ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Kuwait

In 2023, overseas purchases of ferro-alloys decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports, however, enjoyed a moderate increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, ferro-alloys imports reduced rapidly to $X in 2023. Over the period under review, imports, however, enjoyed measured growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, India (X tons) constituted the largest ferro-alloys supplier to Kuwait, with a X% share of total imports. Moreover, ferro-alloys imports from India exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fivefold. The third position in this ranking was held by China (X tons), with a X% share.

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

In value terms, India ($X) constituted the largest supplier of ferro-alloys to Kuwait, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2023, the average annual growth rate of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the average ferro-alloys import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform