Kuwait: Stranded Wire Market 2024

Stranded Wire Market Size in Kuwait

In 2022, the Kuwaiti stranded wire market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a abrupt descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Stranded Wire Exports

Exports from Kuwait

In 2022, the amount of stranded wire, ropes and cables exported from Kuwait soared to X tons, increasing by X% against the year before. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, stranded wire exports reduced dramatically to $X in 2022. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped sharply in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for stranded wire exports from Kuwait, with a X% share of total exports. Moreover, stranded wire exports to the United Arab Emirates exceeded the volume sent to the second major destination, Iraq (X tons), fourfold. The third position in this ranking was held by Bahrain (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (X% per year) and Bahrain (X% per year).

In value terms, Iraq ($X), the United Arab Emirates ($X) and Bahrain ($X) constituted the largest markets for stranded wire exported from Kuwait worldwide, with a combined X% share of total exports. Switzerland, Qatar and Oman lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Switzerland, 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

In 2022, the average stranded wire export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price saw a deep setback. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to the United Arab Emirates ($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 Switzerland (X%), while the prices for the other major destinations experienced a decline.

Stranded Wire Imports

Imports into Kuwait

In 2022, the amount of stranded wire, ropes and cables imported into Kuwait rose notably to X tons, growing by X% on 2021 figures. In general, imports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, stranded wire imports expanded rapidly to $X in 2022. Overall, imports, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of stranded wire to Kuwait, with a X% share of total imports. Moreover, stranded wire imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Japan (X% per year).

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

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average stranded wire import price stood at $X per ton in 2022, remaining stable against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price 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, stranded wire import price decreased by X% against 2018 indices. The growth pace was the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average 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 Jordan ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, 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 a decline.

Source: IndexBox Platform

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