Kuwait: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in Kuwait

After two years of growth, the Kuwaiti fungicide and bactericide market decreased by -1.1% to $X in 2021. Overall, consumption enjoyed a resilient increase. Fungicide and bactericide consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Fungicide And Bactericide Production in Kuwait

In value terms, fungicide and bactericide production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 53% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Fungicide And Bactericide Exports

Exports from Kuwait

In 2021, shipments abroad of fungicides, bactericides and seed treatments decreased by -17.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 486%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, fungicide and bactericide exports rose rapidly to $X in 2021. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 743% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Qatar (X tons) and Saudi Arabia (X tons) were the main destinations of fungicide and bactericide exports from Kuwait.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +34.6%).

In value terms, Qatar ($X) emerged as the key foreign market for fungicides, bactericides and seed treatments exports from Kuwait, comprising 85% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar totaled +38.9%.

Export Prices by Country

In 2021, the average fungicide and bactericide export price amounted to $X per ton, growing by 38% against the previous year. Overall, the export price saw notable growth. The pace of growth appeared the most rapid in 2017 an increase of 46%. As a result, the export price reached the peak level of $X per ton. From 2018 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 Qatar ($X per ton), while the average price for exports to Saudi Arabia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+6.4%).

Fungicide And Bactericide Imports

Imports into Kuwait

Fungicide and bactericide imports into Kuwait rose sharply to X tons in 2021, increasing by 12% against 2020. In general, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2020 with an increase of 91%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, fungicide and bactericide imports soared to $X in 2021. Over the period under review, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2020 when imports increased by 178%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Jordan (X tons), the UK (X tons) and Sweden (X tons) were the main suppliers of fungicide and bactericide imports to Kuwait, together comprising 36% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +69.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fungicide and bactericide suppliers to Kuwait were Jordan ($X), Saudi Arabia ($X) and the UK ($X), with a combined 27% share of total imports. These countries were followed by the United States, Italy, Oman, Turkey, Belgium, Sweden, Bulgaria, Spain, the United Arab Emirates and China, which together accounted for a further 30%.

In terms of the main suppliers, Oman, with a CAGR of +121.3%, saw 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 2021, the average fungicide and bactericide import price amounted to $X per ton, growing by 11% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fungicide and bactericide import price increased by +61.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 45% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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 Saudi Arabia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+43.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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