Kuwait: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Kuwait

After three years of growth, the Kuwaiti metal self-locking nut market decreased by X% to $X in 2022. Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market reached the peak level at $X in 2021, and then fell rapidly in the following year.

Metal Self-Locking Nut Production in Kuwait

In value terms, metal self-locking nut production surged to $X in 2022 estimated in export price. Overall, production showed a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. Metal self-locking nut production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Metal Self-Locking Nut Exports

Exports from Kuwait

In 2022, overseas shipments of iron or steel nuts (including self-locking nuts) were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports recorded slight growth. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal self-locking nut exports soared to $X in 2022. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for metal self-locking nut exports from Kuwait, accounting for a X% share of total exports. Moreover, metal self-locking nut exports to Qatar exceeded the volume sent to the second major destination, the United States (X kg), ninefold. The United Arab Emirates (X kg) ranked third in terms of total exports with a X% share.

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

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for iron or steel nuts (including self-locking nuts) exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by Qatar ($X), with an X% share of total exports. It was followed by the United States, with an X% share.

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

Export Prices by Country

In 2022, the average metal self-locking nut export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

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

Metal Self-Locking Nut Imports

Imports into Kuwait

In 2022, the amount of iron or steel nuts (including self-locking nuts) imported into Kuwait surged to X tons, growing by X% against 2021 figures. In general, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal self-locking nut imports soared to $X in 2022. Over the period under review, imports recorded a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and the United Arab Emirates (X tons) were the main suppliers of metal self-locking nut imports to Kuwait, together accounting for X% of total imports. Sweden, Germany, India, France, Mexico, Turkey and the United States lagged somewhat behind, together accounting for a further X%.

From 2013 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Sweden ($X) appeared to be the largest metal self-locking nut suppliers to Kuwait, together accounting for X% of total imports.

Sweden, 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 metal self-locking nut import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2013 to 2022, 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

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