Kuwait: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in Kuwait

The Kuwaiti market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded remarkably to $X in 2021, surging by 9.9% 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). Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports from Kuwait

In 2021, shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate) decreased by -20.3% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, posted resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 97% against the previous year. The exports peaked at X tons in 2020, and then fell notably in the following year.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) fell markedly to $X in 2021. In general, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 73%. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

Saudi Arabia (X tons), Qatar (X tons) and Jordan (X tons) were the main destinations of exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) from Kuwait, together comprising 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +30.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acrylic polymers, in primary forms (excluding polymethyl methacrylate) exported from Kuwait were Saudi Arabia ($X), Qatar ($X) and Jordan ($X), together accounting for 80% of total exports. These countries were followed by Egypt, Oman, the United Arab Emirates and France, which together accounted for a further 17%.

Among the main countries of destination, Oman, with a CAGR of +35.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) stood at $X per ton in 2021, standing approx. at the previous year. Overall, the export price showed a noticeable decrease. The growth pace was the most rapid in 2018 when the average export price increased by 21%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+5.5%), while the prices for the other major destinations experienced a decline.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports into Kuwait

Imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) into Kuwait rose to X tons in 2021, increasing by 4.6% compared with the previous year's figure. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 32%. Over the period under review, imports of attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded notably to $X in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.5% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 26%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), the United Arab Emirates (X tons) and India (X tons) were the main suppliers of imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) to Kuwait, together comprising 57% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) suppliers to Kuwait were the United Arab Emirates ($X), Germany ($X) and India ($X), with a combined 63% share of total imports.

In terms of the main suppliers, India, with a CAGR of +18.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for acrylic polymers, in primary forms (excluding polymethyl methacrylate) amounted to $X per ton, increasing by 1.5% against the previous year. Overall, the import price, however, continues to indicate a mild slump. The pace of growth appeared the most rapid in 2018 an increase of 36%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform