Kuwait: Plastic Furniture Market 2024

Plastic Furniture Market Size in Kuwait

In 2022, the Kuwaiti plastic furniture market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2021, and then declined markedly in the following year.

Plastic Furniture Production in Kuwait

In value terms, plastic furniture production dropped dramatically to $X in 2022 estimated in export price. Overall, production saw a sharp descent. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Plastic Furniture Exports

Exports from Kuwait

In 2022, approx. X units of furniture of plastic were exported from Kuwait; jumping by X% against 2021. In general, exports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic furniture exports skyrocketed to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for plastic furniture exports from Kuwait, accounting for a X% share of total exports. Moreover, plastic furniture exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X units), more than tenfold. The third position in this ranking was taken by Qatar (X units), with a X% share.

From 2013 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for furniture of plastic exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Qatar, with a X% share.

From 2013 to 2022, the average annual growth rate of value to Saudi Arabia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

Export Prices by Country

The average plastic furniture export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the export price showed a strong expansion. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, 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 Iraq ($X per unit), while the average price for exports to Qatar ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into Kuwait

In 2022, after two years of growth, there was significant decline in purchases abroad of furniture of plastic, when their volume decreased by X% to X units. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked at X units in 2021, and then contracted markedly in the following year.

In value terms, plastic furniture imports dropped to $X in 2022. In general, total imports indicated resilient growth from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

China (X units), Jordan (X units) and Turkey (X units) were the main suppliers of plastic furniture imports to Kuwait, with a combined X% share of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of furniture of plastic to Kuwait, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Jordan, with a X% share.

From 2013 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Jordan (X% per year).

Import Prices by Country

In 2022, the average plastic furniture import price amounted to $X per unit, growing by X% against the previous year. Over the last nine years, it increased at an average annual rate of X%. As a result, import price reached 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 2022, amid the top importers, the country with the highest price was India ($X per unit), while the price for Jordan ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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