Kuwait: Plastic Closure Market 2024

Plastic Closure Market Size in Kuwait

In 2023, the Kuwaiti plastic closure market decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. Overall, the total consumption indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2022, and then fell significantly in the following year.

Plastic Closure Production in Kuwait

In value terms, plastic closure production declined notably to $X in 2023 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2022, and then dropped dramatically in the following year.

Plastic Closure Exports

Exports from Kuwait

In 2023, exports of plastic stoppers, caps and closures from Kuwait surged to X tons, growing by X% on the previous year's figure. In general, exports enjoyed a prominent increase. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, plastic closure exports skyrocketed to $X in 2023. Overall, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for plastic closure exports from Kuwait, accounting for a X% share of total exports. Moreover, plastic closure exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X tons), twofold. Jordan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Saudi Arabia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Jordan (X% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Qatar ($X), with a X% share of total exports. It was followed by Jordan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Saudi Arabia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2023, the average plastic closure export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Kuwait

In 2023, the amount of plastic stoppers, caps and closures imported into Kuwait expanded significantly to X tons, surging by X% against the year before. In general, total imports indicated a notable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, plastic closure imports fell to $X in 2023. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then reduced in the following year.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of plastic closure to Kuwait, with a X% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by Saudi Arabia (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to Kuwait, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform