Kuwait: Mineral Wool Market 2022

Mineral Wool Market Size in Kuwait

The Kuwaiti mineral wool market skyrocketed to $X in 2021, jumping 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 continues to indicate a significant increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Mineral Wool Exports

Exports from Kuwait

In 2021, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were exported from Kuwait; which is down by -X% on the year before. Over the period under review, exports, however, enjoyed a slight increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then declined remarkably in the following year.

In value terms, mineral wool exports dropped rapidly to $X in 2021. In general, exports recorded a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at $X in 2020, and then contracted markedly in the following year.

Exports by Country

Oman (X tons), Jordan (X tons) and Saudi Arabia (X tons) were the main destinations of mineral wool exports from Kuwait, with a combined X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), Saudi Arabia ($X) and Oman ($X) constituted the largest markets for mineral wool exported from Kuwait worldwide, with a combined X% share of total exports.

Oman, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average mineral wool export price amounted to $X per ton, with a decrease of -X% against the previous year. In general, the export price recorded a noticeable contraction. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Iran ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (-X%), while the prices for the other major destinations experienced a decline.

Mineral Wool Imports

Imports into Kuwait

In 2021, approx. X tons of slag wool, rock wool and similar mineral wools and mixtures were imported into Kuwait; increasing by X% on 2020 figures. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, mineral wool imports surged to $X in 2021. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest mineral wool supplier to Kuwait, with a X% share of total imports. Moreover, mineral wool imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. India (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 Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+X% per year) and India (+X% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of mineral wool to Kuwait, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with an 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 Saudi Arabia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+X% per year) and India (+X% per year).

Import Prices by Country

In 2021, the average mineral wool import price amounted to $X per ton, surging by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from China ($X per ton) and the United Arab Emirates ($X per ton), while the price for India ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2021, 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 Market Intelligence Platform

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