Updated Oct 25, 2022 11:01

Non-Alloy Aluminium Bar Market in Kuwait

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
After four years of growth, the Kuwaiti non-alloy aluminium bar market decreased by -% to $ in . Overall, consumption, however, continues to indicate a prominent expansion. Non-alloy aluminium bar consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , the amount of non-alloy aluminium bars, rods and profiles consumed in Kuwait rose rapidly to tons, picking up by % compared with the previous year. Over the period under review, consumption recorded a prominent increase. Non-alloy aluminium bar consumption peaked at tons in 2015; however, from 2016 to , consumption failed to regain momentum.

The revenue of the non-alloy aluminium bar market in Kuwait expanded notably to $ in , growing 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 continues to indicate buoyant growth. Over the period under review, the market attained the maximum level at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for non-alloy aluminium bar in Kuwait, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, 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
Non-alloy aluminium bar 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 non-alloy aluminium bar; 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.