Kuwait: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in Kuwait

After three years of growth, the Kuwaiti hydrogen chloride market decreased by -16.8% to $X in 2021. In general, consumption, however, enjoyed a strong increase. Hydrogen chloride consumption peaked at $X in 2020, and then dropped rapidly in the following year.

Hydrogen Chloride Production in Kuwait

In value terms, hydrogen chloride production dropped notably to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 96% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Hydrogen Chloride Exports

Exports from Kuwait

In 2021, overseas shipments of hydrogen chloride (hydrochloric acid) increased by 72% to X tons, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 183% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, hydrogen chloride exports surged to $X in 2021. In general, exports, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 156%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for hydrogen chloride exports from Kuwait, with a 57% share of total exports. Moreover, hydrogen chloride exports to Saudi Arabia exceeded the volume sent to the second major destination, Bahrain (X tons), fivefold. The third position in this ranking was held by Qatar (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+69.8% per year) and Qatar (-18.3% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for hydrogen chloride (hydrochloric acid) exports from Kuwait, comprising 48% of total exports. The second position in the ranking was taken by Qatar ($X), with a 16% share of total exports. It was followed by Jordan, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia totaled -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-22.2% per year) and Jordan (+37.1% per year).

Export Prices by Country

The average hydrogen chloride export price stood at $X per ton in 2021, shrinking by -6.4% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 16%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Bahrain ($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 Iraq (+2.1%), while the prices for the other major destinations experienced a decline.

Hydrogen Chloride Imports

Imports into Kuwait

In 2021, approx. X tons of hydrogen chloride (hydrochloric acid) were imported into Kuwait; increasing by 33% compared with the previous year's figure. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2017 when imports increased by 500% 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, hydrogen chloride imports soared to $X in 2021. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 484% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Saudi Arabia (X tons) was the main supplier of hydrogen chloride to Kuwait, accounting for a 96% share of total imports. Moreover, hydrogen chloride imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia totaled +32.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+96.6% per year) and Jordan (-25.1% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of hydrogen chloride (hydrochloric acid) to Kuwait, comprising 98% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia stood at +45.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+58.8% per year) and Jordan (-22.2% per year).

Import Prices by Country

In 2021, the average hydrogen chloride import price amounted to $X per ton, dropping by -9.1% against the previous year. Over the period under review, the import price, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2019 when the average import price increased by 46% against the previous year. The import price peaked at $X per ton in 2020, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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