Updated Oct 25, 2022 01:52

Nickel Powder Market in Kuwait

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
In , the Kuwaiti nickel powder market was finally on the rise to reach $ for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, saw a noticeable downturn. Nickel powder consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain momentum.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , consumption of nickel powders and flakes in Kuwait declined to kg, waning by -% compared with . Over the period under review, consumption showed a pronounced downturn. Nickel powder consumption peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.

The size of the nickel powder market in Kuwait declined to $ in , dropping 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). In general, consumption recorded a noticeable curtailment. Nickel powder consumption peaked at $ in 2018; however, from 2019 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 nickel powder 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 kg 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
Nickel powder 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 nickel powder; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of kg, 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.