Kuwait: Complex Fluorine Salts Market 2024

Complex Fluorine Salts Market Size in Kuwait

After three years of growth, the Kuwaiti complex fluorine salts market decreased by -11.3% to $X in 2021. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +53.3% against 2017 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Complex Fluorine Salts Production in Kuwait

In value terms, complex fluorine salts production shrank to $X in 2021 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.0% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 46% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then dropped in the following year.

Complex Fluorine Salts Exports

Exports from Kuwait

For the fourth year in a row, Kuwait recorded decline in shipments abroad of fluorides, fluorosilicates, fluoroaluminates and other complex fluorine salts, which decreased by -49.2% to X tons in 2021. In general, exports continue to indicate a sharp reduction. The growth pace was the most rapid in 2017 when exports increased by 119% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, complex fluorine salts exports dropped remarkably to $X in 2021. Over the period under review, exports saw a sharp setback. The smallest decline of -26.9% was in 2016. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for complex fluorine salts exports from Kuwait, with a 85% share of total exports. Moreover, complex fluorine salts exports to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X kg), more than tenfold. Colombia (X kg) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-54.7% per year) and Colombia (0.0% per year).

In value terms, Qatar ($X) emerged as the key foreign market for fluorides, fluorosilicates, fluoroaluminates and other complex fluorine salts exports from Kuwait, comprising 70% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 9.3% share of total exports. It was followed by Colombia, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-53.5% per year) and Colombia (0.0% per year).

Export Prices by Country

In 2021, the average complex fluorine salts export price amounted to $X per ton, reducing by -4.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 250% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while the average price for exports to Bahrain ($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 Saudi Arabia (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

Complex Fluorine Salts Imports

Imports into Kuwait

In 2021, complex fluorine salts imports into Kuwait rose sharply to X tons, surging by 12% compared with the previous year. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 95% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, complex fluorine salts imports amounted to $X in 2021. Over the period under review, imports saw a pronounced increase. The pace of growth appeared the most rapid in 2015 with an increase of 162%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Egypt (X tons) constituted the largest complex fluorine salts supplier to Kuwait, with a 42% share of total imports. Moreover, complex fluorine salts imports from Egypt exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Egypt totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.7% per year) and India (+26.1% per year).

In value terms, the largest complex fluorine salts suppliers to Kuwait were China ($X), Spain ($X) and the United States ($X), together comprising 63% of total imports.

Among the main suppliers, Spain, with a CAGR of +75.6%, saw the highest rates of growth with regard to 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 2021, the average complex fluorine salts import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, complex fluorine salts import price decreased by -8.1% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 42% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Egypt ($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 (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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