Kuwait: Glass Fiber Market 2022

Glass Fiber Market Size in Kuwait

In 2021, the Kuwaiti glass fiber market increased by 26% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption enjoyed a remarkable increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Glass Fiber Production in Kuwait

In value terms, glass fiber production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 48%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Glass Fiber Exports

Exports from Kuwait

After two years of decline, shipments abroad of voiles, webs, mats and other articles of glass fibers increased by 8.8% to X tons in 2021. Overall, exports, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2013 with an increase of 23%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glass fiber exports rose markedly to $X in 2021. In general, exports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 13%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main destinations of glass fiber exports from Kuwait, with a combined 78% share of total exports. Egypt, Indonesia, Pakistan, China, Oman and Bahrain lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +165.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) appeared to be the largest markets for glass fiber exported from Kuwait worldwide, with a combined 81% share of total exports. These countries were followed by Egypt, Pakistan, Oman, China, Indonesia and Bahrain, which together accounted for a further 15%.

In terms of the main countries of destination, China, with a CAGR of +270.7%, saw 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

The average glass fiber export price stood at $X per ton in 2021, with a decrease of -1.5% against the previous year. Over the period under review, the export price showed a mild downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 1.5%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Oman ($X per ton), while the average price for exports to Indonesia ($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 China (+39.4%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Kuwait

In 2021, approx. X tons of voiles, webs, mats and other articles of glass fibers were imported into Kuwait; with an increase of 65% on 2020 figures. Over the period under review, imports continue to indicate a strong increase. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fiber imports surged to $X in 2021. In general, imports showed a resilient increase. The most prominent rate of growth was recorded in 2019 when imports increased by 66% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest glass fiber supplier to Kuwait, with a 62% share of total imports. Moreover, glass fiber imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.4% per year) and the United Arab Emirates (+15.8% per year).

In value terms, the largest glass fiber suppliers to Kuwait were Saudi Arabia ($X), China ($X) and the United Arab Emirates ($X), with a combined 92% share of total imports.

In terms of the main suppliers, China, with a CAGR of +19.8%, recorded the highest rates of growth with regard to 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

In 2021, the average glass fiber import price amounted to $X per ton, falling by -6.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 33% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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