Updated Nov 27, 2022 01:26

Aluminium Alloy Wire Market in Kuwait

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Kuwaiti aluminium alloy wire market dropped slightly to $ in , with a decrease of -% 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 continues to indicate a noticeable descent. Aluminium alloy wire consumption peaked at $ in 2008; however, from 2009 to , consumption failed to regain momentum.

In value terms, aluminium alloy wire production fell to $ in estimated in export price. Overall, production showed a noticeable downturn. The pace of growth appeared the most rapid in 2015 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2008; however, from 2009 to , production stood at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , aluminium alloy wire consumption in Kuwait amounted to tons, almost unchanged from the year before. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, consumption attained the maximum volume at tons in ; however, from to , consumption failed to regain momentum.

The revenue of the aluminium alloy wire market in Kuwait dropped to $ in , declining 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, however, recorded a perceptible curtailment. Over the period under review, the market reached the maximum level at $ in 2008; however, from 2009 to , consumption failed to regain momentum.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by rising demand for aluminium alloy wire in Kuwait, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, 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
Over the period under review, the share of imports in terms of total aluminium alloy wire consumption in Kuwait was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Kuwait aluminium alloy wire market is largely supplied by domestic manufacturers. 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 exporter of aluminium alloy wire; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a trade surplus of tons, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.