Kuwait: Tyre Cord Fabric Market 2022

Tyre Cord Fabric Market Size in Kuwait

The Kuwaiti tyre cord fabric market dropped significantly to $X in 2021, waning by -X% against the previous year. In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2019 indices. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Tyre Cord Fabric Production in Kuwait

In value terms, tyre cord fabric production shrank dramatically to $X in 2021 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X, and then fell significantly in the following year.

Tyre Cord Fabric Exports

Exports from Kuwait

In 2021, after nine years of growth, there was significant decline in overseas shipments of tyre cord fabric of high tenacity yarn, when their volume decreased by -X% to X tons. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2020, and then fell remarkably in the following year.

In value terms, tyre cord fabric exports dropped to $X in 2021. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then contracted in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for tyre cord fabric exports from Kuwait, with a approx. X% share of total exports.

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

In value terms, the United Arab Emirates ($X) also remains the key foreign market for tyre cord fabric exports from Kuwait.

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

Export Prices by Country

The average tyre cord fabric export price stood at $X per ton in 2021, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a abrupt downturn. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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.

Tyre Cord Fabric Imports

Imports into Kuwait

Tyre cord fabric imports into Kuwait surged to X tons in 2021, growing by X% compared with 2020 figures. Overall, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, tyre cord fabric imports soared to $X in 2021. In general, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Poland (X tons) were the main suppliers of tyre cord fabric imports to Kuwait, together accounting for X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre cord fabric suppliers to Kuwait were Taiwan (Chinese) ($X), Poland ($X) and China ($X), together comprising X% of total imports.

Among the main suppliers, Poland, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tyre cord fabric import price stood at $X per ton in 2021, which is down by -X% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tyre cord fabric import price decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2017 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 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform