Kuwait: Amino-Resin Market 2024

Amino-Resin Market Size in Kuwait

The Kuwaiti amino-resin market declined modestly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, recorded a slight curtailment. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Amino-Resin Production in Kuwait

In value terms, amino-resin production declined to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Amino-resin production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Amino-Resin Exports

Exports from Kuwait

In 2022, approx. X tons of amino-resins, phenolic resins and polyurethanes (in primary forms) were exported from Kuwait; jumping by X% on the previous year's figure. In general, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, amino-resin exports surged to $X in 2022. Over the period under review, exports, however, showed a abrupt decline. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for amino-resin exports from Kuwait, with a X% share of total exports. Moreover, amino-resin exports to Qatar exceeded the volume sent to the second major destination, Tunisia (X tons), twofold. Sudan (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (X% per year) and Sudan (X% per year).

In value terms, Qatar ($X), Tunisia ($X) and Sudan ($X) constituted the largest markets for amino-resin exported from Kuwait worldwide, together accounting for X% of total exports. The United Arab Emirates, Saudi Arabia and Bahrain lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average amino-resin export price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Amino-Resin Imports

Imports into Kuwait

Amino-resin imports into Kuwait contracted dramatically to X tons in 2022, shrinking by X% against the year before. In general, imports saw a deep slump. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, amino-resin imports declined notably to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Belgium (X tons), China (X tons) and South Korea (X tons) were the main suppliers of amino-resin imports to Kuwait, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and Germany ($X) were the largest amino-resin suppliers to Kuwait, with a combined X% share of total imports. South Korea, the Netherlands, Belgium, Japan, the United Arab Emirates, Spain, the United States and France lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Japan, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average amino-resin import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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