Kuwait: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in Kuwait

The Kuwaiti amine-function compounds market skyrocketed to $X in 2021, picking up by 61% 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, showed a mild curtailment. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Amine-Function Compounds Exports

Exports from Kuwait

In 2021, overseas shipments of amine-function compounds increased by 108% to X tons, rising for the third year in a row after four years of decline. Overall, exports posted significant growth. The growth pace was the most rapid in 2014 when exports increased by 2,203% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, amine-function compounds exports soared to $X in 2021. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 1,159% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for amine-function compounds exports from Kuwait, with a 61% share of total exports. Moreover, amine-function compounds exports to the United Arab Emirates exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by Oman (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Oman (0.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for amine-function compounds exports from Kuwait, comprising 73% of total exports. The second position in the ranking was held by Oman ($X), with an 8.3% share of total exports. It was followed by Italy, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (0.0% per year) and Italy (0.0% per year).

Export Prices by Country

The average amine-function compounds export price stood at $X per ton in 2021, shrinking by -23.1% against the previous year. In general, the export price continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2017 an increase of 18%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Italy ($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 Saudi Arabia (+108.4%).

Amine-Function Compounds Imports

Imports into Kuwait

In 2021, purchases abroad of amine-function compounds increased by 70% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 111%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, amine-function compounds imports soared to $X in 2021. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 71%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), India (X tons) and China (X tons) were the main suppliers of amine-function compounds imports to Kuwait, with a combined 54% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +29.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and India ($X) constituted the largest amine-function compounds suppliers to Kuwait, together accounting for 58% of total imports.

Germany, with a CAGR of +25.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average amine-function compounds import price amounted to $X per ton, falling by -1.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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 States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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