Updated Nov 1, 2022 17:58

Market for Iron Or Steel Pipe And Tube in Kuwait

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
In , after two years of decline, there was significant growth in the Kuwaiti market for tubes, pipes and hollow profiles (of iron or steel), when its value increased by % to $. In general, consumption posted a slight increase. Consumption of peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , consumption of tubes, pipes and hollow profiles (of iron or steel) increased by % to tons, rising for the second year in a row after two years of decline. In general, consumption saw a measured increase. Consumption of peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.

The value of the market for tubes, pipes and hollow profiles (of iron or steel) in Kuwait expanded slightly to $ in , rising 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, the total consumption indicated a slight increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. Over the period under review, the market reached the maximum level at $ in 2018; however, from 2019 to , consumption failed to regain momentum.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for iron or steel pipe and tube in Kuwait, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase 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
Iron or steel pipe and tube 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 decreased 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 iron or steel pipe and tube; 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.