Kuwait: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in Kuwait

The Kuwaiti market for cellular plates, sheets and films of polyymers of styrene shrank slightly to $X in 2022, reducing by -3.6% against the previous year. Over the period under review, consumption, however, saw prominent growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in Kuwait

In value terms, production of cellular plates, sheets and films of polyymers of styrene reached $X in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.0% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 49%. As a result, production attained the peak level of $X. From 2019 to 2022, production of growth remained at a lower figure.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports from Kuwait

In 2022, the amount of cellular plates, sheets and films of polyymers of styrene exported from Kuwait rose slightly to X tons, with an increase of 2.3% compared with the year before. Over the period under review, exports, however, continue to indicate a slight setback. The pace of growth appeared the most rapid in 2015 with an increase of 57% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene declined modestly to $X in 2022. In general, exports, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2020 when exports increased by 43%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for exports of cellular plates, sheets and films of polyymers of styrene from Kuwait, with a 70% share of total exports. Moreover, exports of cellular plates, sheets and films of polyymers of styrene to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. Bahrain (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia totaled +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-11.9% per year) and Bahrain (+8.2% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for cellular plates, sheets and films of polyymers of styrene exports from Kuwait, comprising 70% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Bahrain, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia amounted to +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-16.1% per year) and Bahrain (+10.6% per year).

Export Prices by Country

The average export price for cellular plates, sheets and films of polyymers of styrene stood at $X per ton in 2022, falling by -5.8% against the previous year. Over the period under review, the export price saw a noticeable downturn. The pace of growth was the most pronounced in 2016 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Iraq ($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 Iraq (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports into Kuwait

After two years of growth, overseas purchases of cellular plates, sheets and films of polyymers of styrene decreased by -42.6% to X tons in 2022. Overall, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 632% against the previous year. As a result, imports reached the peak of X tons, and then plummeted in the following year.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene shrank dramatically to $X in 2022. In general, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 484%. As a result, imports attained the peak of $X, and then contracted significantly in the following year.

Imports by Country

Lebanon (X tons), China (X tons) and Oman (X tons) were the main suppliers of imports of cellular plates, sheets and films of polyymers of styrene to Kuwait, together comprising 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +35.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene cellular plates, sheets and films suppliers to Kuwait were Lebanon ($X), Oman ($X) and China ($X), together accounting for 73% of total imports.

Among the main suppliers, Oman, with a CAGR of +45.5%, 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 import price for cellular plates, sheets and films of polyymers of styrene amounted to $X per ton, with an increase of 2.1% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 54% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Oman ($X per ton), while the price for China ($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 (+7.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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