Updated Jan 11, 2023 23:11

Non-Alloy Steel H-Sections Market in Kuwait

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Kuwaiti non-alloy steel h-sections market declined to $ in , waning by -% 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). Overall, consumption faced a drastic downturn. Over the period under review, the market attained the maximum level at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , approx. tons of h-sections of of non-alloy steel were consumed in Kuwait; shrinking by -% on . Over the period under review, consumption faced a deep downturn. Over the period under review, consumption attained the maximum volume at tons in 2007; however, from 2008 to , consumption remained at a lower figure.

The revenue of the non-alloy steel h-sections market in Kuwait declined to $ in , shrinking by -% 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). Overall, consumption recorded a abrupt downturn. Over the period under review, the market reached the peak level at $ in 2007; however, from 2008 to , consumption remained at a lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Depressed by shrinking demand for non-alloy steel h-sections in Kuwait, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
Non-alloy steel h-sections market in Kuwait consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Kuwait remains a net importer of non-alloy steel h-sections; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.