Kuwait: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2022

Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in Kuwait

The Kuwaiti silicon-electrical steel flat-rolled product market declined to $X in 2021, 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 saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Kuwait

In 2021, overseas shipments of flat-rolled products of silicon-electrical steel were finally on the rise to reach X tons after two years of decline. In general, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product exports amounted to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Kuwait, accounting for a X% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to Saudi Arabia exceeded the volume sent to the second major destination, India (X tons), fivefold.

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

In value terms, Saudi Arabia ($X) remains the key foreign market for silicon-electrical steel flat-rolled product exports from Kuwait, comprising X% of total exports. The second position in the ranking was occupied by India ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled -X%.

Export Prices by Country

The average silicon-electrical steel flat-rolled product export price stood at $X per ton in 2021, declining by -X% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Saudi Arabia stood at $X per ton.

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

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into Kuwait

In 2021, the amount of flat-rolled products of silicon-electrical steel imported into Kuwait contracted to X tons, which is down by -X% against the year before. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, silicon-electrical steel flat-rolled product imports contracted to $X in 2021. In general, imports showed a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of silicon-electrical steel flat-rolled product to Kuwait, with a X% share of total imports. Moreover, silicon-electrical steel flat-rolled product imports from Japan exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+X% per year) and South Korea (+X% per year).

In value terms, Japan ($X) constituted the largest supplier of silicon-electrical steel flat-rolled product to Kuwait, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and India (+X% per year).

Import Prices by Country

The average silicon-electrical steel flat-rolled product import price stood at $X per ton in 2021, surging by X% against the previous year. Overall, the import price, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform