Kuwait: Epoxide Resin Market 2024

Epoxide Resin Market Size in Kuwait

The Kuwaiti epoxide resin market surged to $X in 2021, picking up by 62% 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). In general, consumption posted a prominent increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Epoxide Resin Exports

Exports from Kuwait

In 2021, the amount of epoxide resins exported from Kuwait skyrocketed to X tons, jumping by 88% compared with 2020 figures. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2017 with an increase of 318% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, epoxide resin exports expanded notably to $X in 2021. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 205%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons), Cambodia (X tons) and Saudi Arabia (X tons) were the main destinations of epoxide resin exports from Kuwait, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +69.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) remains the key foreign market for epoxide resins exports from Kuwait, comprising 52% of total exports. The second position in the ranking was taken by India ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Philippines amounted to +39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-3.1% per year) and Saudi Arabia (+10.8% per year).

Export Prices by Country

The average epoxide resin export price stood at $X per ton in 2021, reducing by -39.4% against the previous year. Over the period under review, the export price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by 57%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Cambodia ($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 (+609.5%), while the prices for the other major destinations experienced more modest paces of growth.

Epoxide Resin Imports

Imports into Kuwait

In 2021, approx. X tons of epoxide resins were imported into Kuwait; growing by 50% against the year before. Overall, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 52%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, epoxide resin imports surged to $X in 2021. Over the period under review, imports recorded a remarkable increase. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of epoxide resin to Kuwait, accounting for a 61% share of total imports. Moreover, epoxide resin imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), sixfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-1.6% per year) and Taiwan (Chinese) (+23.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of epoxide resins to Kuwait, comprising 45% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with an 8% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+3.2% per year) and Taiwan (Chinese) (+32.3% per year).

Import Prices by Country

The average epoxide resin import price stood at $X per ton in 2021, growing by 9.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 22%. The import price peaked in 2021 and is expected to retain growth in years to come.

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 Taiwan (Chinese) ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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