Kuwait: Carbonate Market 2024

Carbonate Market Size in Kuwait

The Kuwaiti carbonate market skyrocketed to $X in 2021, jumping by 39% 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, consumption recorded a resilient expansion. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Carbonate Exports

Exports from Kuwait

In 2021, the amount of carbonates and peroxocarbonates exported from Kuwait soared to X tons, rising by 272% on the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 446%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, carbonate exports skyrocketed to $X in 2021. In general, exports posted tangible growth. The pace of growth was the most pronounced in 2019 when exports increased by 551%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main destinations of carbonate exports from Kuwait, with a combined 85% share 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 Saudi Arabia (with a CAGR of +21.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carbonate exported from Kuwait were India ($X), Qatar ($X) and Saudi Arabia ($X), with a combined 77% share of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of +9.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average carbonate export price stood at $X per ton in 2021, waning by -8.9% against the previous year. In general, the export price, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2013 an increase of 130% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 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 India ($X per ton), while the average price for exports to Saudi Arabia ($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 Iraq (+67.3%), while the prices for the other major destinations experienced more modest paces of growth.

Carbonate Imports

Imports into Kuwait

In 2021, approx. X tons of carbonates and peroxocarbonates were imported into Kuwait; with an increase of 54% on the previous year. Over the period under review, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 156% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, carbonate imports soared to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +12.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.0% against 2017 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 72% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of carbonate to Kuwait, with a 60% share of total imports. Moreover, carbonate imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Jordan (X tons), sixfold. Turkey (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Jordan (+23.1% per year) and Turkey (+72.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of carbonates and peroxocarbonates to Kuwait, comprising 41% of total imports. The second position in the ranking was held by Turkey ($X), with a 13% share of total imports. It was followed by Jordan, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+76.0% per year) and Jordan (+18.6% per year).

Import Prices by Country

The average carbonate import price stood at $X per ton in 2021, waning by -21.7% against the previous year. Over the period under review, the import price showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 an increase of 11%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, 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 China ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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