Kuwait: Ether Market 2024

Ether Market Size in Kuwait

The Kuwaiti ether market soared to $X in 2022, with an increase of 78% against the previous year. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -30.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Ether Production in Kuwait

In value terms, ether production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 18% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Ether Exports

Exports from Kuwait

After five years of growth, overseas shipments of ethers decreased by -2.6% to X tons in 2022. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 9.9%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank modestly in the following year.

In value terms, ether exports declined to $X in 2022. Overall, exports showed a mild contraction. The pace of growth was the most pronounced in 2013 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for ether exports from Kuwait, with a 56% share of total exports. Moreover, ether exports to China exceeded the volume sent to the second major destination, Italy (X tons), threefold. Turkey (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-4.3% per year) and Turkey (-1.3% per year).

In value terms, China ($X) remains the key foreign market for ethers exports from Kuwait, comprising 51% of total exports. The second position in the ranking was taken by Italy ($X), with a 19% share of total exports. It was followed by Turkey, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-7.6% per year) and Turkey (-4.3% per year).

Export Prices by Country

In 2022, the average ether export price amounted to $X per ton, leveling off at the previous year. In general, the export price, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2013 an increase of 12% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and Turkey ($X per ton), while the average price for exports to Spain ($X per ton) and China ($X per ton) were 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 (-0.2%), while the prices for the other major destinations experienced a decline.

Ether Imports

Imports into Kuwait

In 2022, supplies from abroad of ethers was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 when imports increased by 136% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, ether imports soared to $X in 2022. In general, imports, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2016 with an increase of 131%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of ether to Kuwait, with a 67% share of total imports. Moreover, ether imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+12.2% per year) and Malaysia (+34.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of ethers to Kuwait, comprising 65% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 16% share of total imports. It was followed by Malaysia, with a 4% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+21.7% per year) and Malaysia (+30.7% per year).

Import Prices by Country

The average ether import price stood at $X per ton in 2022, which is down by -3.4% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ether import price increased by +1.2% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 125% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a 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 China ($X per ton), while the price for Iran ($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 (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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