Kuwait: Amino Resin Market 2025

Amino Resin Market Size in Kuwait

The Kuwaiti amino resin market declined sharply to $X in 2022, with a decrease of -18.4% 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 showed a perceptible curtailment. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Amino Resin Exports

Exports from Kuwait

In 2022, approx. X tons of amino resins were exported from Kuwait; picking up by 28% compared with the previous year. Overall, exports showed buoyant growth. The pace of growth was the most pronounced in 2018 when exports increased by 212% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, amino resin exports surged to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 176%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Tunisia (X tons), Qatar (X tons) and Sudan (X tons) were the main destinations of amino resin exports from Kuwait.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +110.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for amino resin exported from Kuwait were Qatar ($X), Tunisia ($X) and Sudan ($X).

Among the main countries of destination, Qatar, with a CAGR of +147.0%, recorded the highest rates of growth with regard to 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 amino resin export price stood at $X per ton in 2022, jumping by 39% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2017; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Kuwait

In 2022, the amount of amino resins imported into Kuwait shrank markedly to X tons, reducing by -28.2% against the previous year. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when imports increased by 48%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, amino resin imports shrank dramatically to $X in 2022. Overall, imports recorded a slight descent. The growth pace was the most rapid in 2021 when imports increased by 59%. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

Belgium (X tons), South Korea (X tons) and China (X tons) were the main suppliers of amino resin imports to Kuwait, with a combined 60% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +15.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest amino resin suppliers to Kuwait were China ($X), South Korea ($X) and the Netherlands ($X), with a combined 49% share of total imports. Saudi Arabia, Belgium, Japan, Germany and Spain lagged somewhat behind, together comprising a further 48%.

Among the main suppliers, Japan, with a CAGR of +14.9%, recorded 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 2022, the average amino resin import price amounted to $X per ton, rising by 17% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +109.0% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 26%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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