Kuwait: Market for Hot-Rolled Bars Of High Speed Steel 2022

Market Size for Hot-Rolled Bars Of High Speed Steel in Kuwait

In 2021, the Kuwaiti market for hot-rolled bars of high speed steel increased by X% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded significant growth. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Hot-Rolled Bars Of High Speed Steel in Kuwait

In value terms, hot-rolled high speed steel bar production rose slightly to $X in 2021 estimated in export price. In general, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Kuwait

In 2021, the amount of hot-rolled bars of high speed steel exported from Kuwait shrank markedly to X tons, waning by -X% against the previous year. Overall, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2020, and then reduced notably in the following year.

In value terms, hot-rolled high speed steel bar exports contracted to $X in 2021. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2020, and then contracted slightly in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for hot-rolled high speed steel bar exports from Kuwait, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates totaled +X%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for hot-rolled high speed steel bar exports from Kuwait.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +X%.

Export Prices by Country

The average export price for hot-rolled bars of high speed steel stood at $X per ton in 2021, picking up by X% against the previous year. In general, the export price posted a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +X% per year.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Kuwait

In 2021, approx. X tons of hot-rolled bars of high speed steel were imported into Kuwait; which is down by -X% on 2020 figures. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports contracted markedly to $X in 2021. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X kg), China (X kg) and India (X kg) were the main suppliers of hot-rolled high speed steel bar 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 India (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled high speed steel bar suppliers to Kuwait were Italy ($X), the United Arab Emirates ($X) and China ($X), together comprising X% of total imports.

The United Arab Emirates, with a CAGR of +X%, recorded 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 import price for hot-rolled bars of high speed steel stood at $X per ton in 2021, declining by -X% against the previous year. In general, the import price, however, recorded a measured expansion. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020, and then contracted in the following year.

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

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

Source: IndexBox Market Intelligence Platform

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