Kuwait: Acyclic Hydrocarbons Market 2022

Acyclic Hydrocarbons Market Size in Kuwait

After three years of growth, the Kuwaiti acyclic hydrocarbons market decreased by -X% to $X in 2020. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2020, consumption failed to regain the momentum.

Acyclic Hydrocarbons Exports

Exports from Kuwait

In 2020, overseas shipments of acyclic hydrocarbons decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. In general, exports recorded a deep reduction. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at X tons in 2016; however, from 2017 to 2020, exports stood at a somewhat lower figure.

In value terms, acyclic hydrocarbons exports reduced markedly to $X in 2020. Overall, exports recorded a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. Over the period under review, exports attained the maximum at $X in 2013; however, from 2014 to 2020, exports remained at a lower figure.

Exports by Country

The Philippines (X tons), Qatar (X tons) and Bahrain (X tons) were the main destinations of acyclic hydrocarbons exports from Kuwait, together accounting for X% of total exports. These countries were followed by Saudi Arabia and the United Arab Emirates, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acyclic hydrocarbons exported from Kuwait were the United Arab Emirates ($X), the Philippines ($X) and Saudi Arabia ($X), together accounting for X% of total exports.

In terms of the main countries of destination, the United Arab Emirates (+X% per year) saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average acyclic hydrocarbons export price stood at $X per ton in 2020, remaining stable against the previous year. Overall, the export price posted a notable increase. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines, while the prices for the other major destinations experienced a decline.

Acyclic Hydrocarbons Imports

Imports into Kuwait

In 2020, after three years of growth, there was significant decline in overseas purchases of acyclic hydrocarbons, when their volume decreased by -X% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of X% y-o-y. Imports peaked at X tons in 2019, and then declined dramatically in the following year.

In value terms, acyclic hydrocarbons imports contracted significantly to $X in 2020. Over the period under review, imports, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Oman (X tons) constituted the largest supplier of acyclic hydrocarbons to Kuwait, with a X% share of total imports. Moreover, acyclic hydrocarbons imports from Oman exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume from Oman totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Qatar (+X% per year).

In value terms, Oman ($X) constituted the largest supplier of acyclic hydrocarbons to Kuwait, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Oman totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and Qatar (+X% per year).

Import Prices by Country

In 2020, the average acyclic hydrocarbons import price amounted to $X per ton, with a decrease of -X% against the previous year. In general, the import price recorded a pronounced decrease. The pace of growth appeared the most rapid in 2010 an increase of X% year-to-year. The import price peaked at $X per ton in 2014; however, from 2015 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Qatar ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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