Kuwait: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Kuwait

The Kuwaiti glass fibre and article market surged to $X in 2022, jumping by X% against the previous year. Over the period under review, the total consumption indicated perceptible growth 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 decreased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Glass Fibres and Glass Fibre Articles in Kuwait

In value terms, glass fibre and article production expanded rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a tangible expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Kuwait

In 2022, glass fibre and article exports from Kuwait fell modestly to X tons, with a decrease of X% against the previous year's figure. Overall, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, glass fibre and article exports contracted to $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), Qatar (X tons) and the United Arab Emirates (X tons) were the main destinations of glass fibre and article exports from Kuwait, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibre and article exported from Kuwait were Saudi Arabia ($X), Qatar ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of X%, recorded 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 glass fibre and article export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Kuwait

In 2022, overseas purchases of glass fibres and glass fibre articles increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, glass fibre and article imports soared to $X in 2022. Overall, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and China (X tons) were the main suppliers of glass fibre and article imports to Kuwait, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and China ($X) constituted the largest glass fibre and article suppliers to Kuwait, with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price recorded a mild setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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