Report Update Nov 1, 2024

Kuwait - Benzene - Market Analysis, Forecast, Size, Trends and Insights

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Kuwait: Benzene Market 2024

Benzene Market Size in Kuwait

The Kuwaiti benzene market declined to $X in 2022, which is down by -12.3% against the previous year. Over the period under review, consumption, however, showed a strong increase. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Benzene Production in Kuwait

In value terms, benzene production skyrocketed to $X in 2022 estimated in export price. In general, production, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2016 when the production volume increased by 561%. Benzene production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Benzene Exports

Exports from Kuwait

In 2022, after three years of growth, there was significant decline in shipments abroad of benzene, when their volume decreased by -16.2% to X tons. Over the period under review, exports, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 92%. The exports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, benzene exports reduced notably to $X in 2022. In general, exports, however, posted temperate growth. The pace of growth appeared the most rapid in 2020 when exports increased by 154%. The exports peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

Taiwan (Chinese) (X tons), Saudi Arabia (X tons) and Spain (X tons) were the main destinations of benzene exports from Kuwait, together comprising 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +12.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for benzene exported from Kuwait were Spain ($X), Saudi Arabia ($X) and China ($X), together accounting for 52% of total exports.

Spain, with a CAGR of +25.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average benzene export price amounted to $X per ton, dropping by -3.2% against the previous year. Overall, the export price continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2018 an increase of 40%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United States ($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 Spain (+11.2%), while the prices for the other major destinations experienced mixed trend patterns.

Benzene Imports

Imports into Kuwait

In 2022, the amount of benzene imported into Kuwait contracted to X tons, falling by -9.5% compared with 2021. Overall, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 357%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, benzene imports dropped notably to $X in 2022. In general, imports, however, saw a prominent expansion. The growth pace was the most rapid in 2013 when imports increased by 484%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Oman (X tons), India (X tons) and South Korea (X tons) were the main suppliers of benzene imports to Kuwait, together accounting for 91% of total imports. The United States and Saudi Arabia lagged somewhat behind, together comprising a further 8.3%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +47.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), India ($X) and South Korea ($X) were the largest benzene suppliers to Kuwait, with a combined 91% share of total imports. The United States and Saudi Arabia lagged somewhat behind, together comprising a further 7.2%.

The United States, with a CAGR of +36.8%, 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 more modest paces of growth.

Import Prices by Country

The average benzene import price stood at $X per ton in 2022, with a decrease of -16.8% against the previous year. Overall, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 60% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for benzene in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 39% of global consumption.

What are the largest producers of benzene in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 37% of global production.

What are the leading suppliers of benzene to Kuwait?

In value terms, Oman constituted the largest supplier of benzene to Kuwait, comprising 68% of total imports. The second position in the ranking was occupied by South Korea, with a 21% share of total imports. It was followed by India, with a 5.3% share.

What are the leading importers of benzene from Kuwait?

In value terms, the largest markets for benzene exported from Kuwait were China, Saudi Arabia and Spain, with a combined 76% share of total exports. Taiwan Chinese), Italy and the United States lagged somewhat behind, together accounting for a further 24%.

What is the average export price for benzene in Kuwait?

In 2021, the average benzene export price amounted to $750 per ton, shrinking by -11.2% against the previous year.

What is the average import price for benzene in Kuwait?

In 2021, the average benzene import price amounted to $635 per ton, rising by 9% against the previous year.

This report provides an in-depth analysis of the benzene market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20141223 - Benzene

Country coverage:

Kuwait

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Kuwait
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023