Kuwait: Insecticide Market 2024

Insecticide Market Size in Kuwait

In 2021, after three years of growth, there was significant decline in the Kuwaiti insecticide market, when its value decreased by -16.7% to $X. Overall, consumption, however, recorded prominent growth. Over the period under review, the market attained the peak level at $X in 2020, and then reduced notably in the following year.

Insecticide Production in Kuwait

In value terms, insecticide production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of 43%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Insecticide Exports

Exports from Kuwait

In 2021, overseas shipments of insecticides increased by 137% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, saw a deep reduction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, insecticide exports soared to $X in 2021. Overall, exports, however, saw a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Liberia (X tons), Ethiopia (X tons) and Djibouti (X tons) were the main destinations of insecticide exports from Kuwait, with a combined 83% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +100.0%), while the other leaders experienced more modest paces of growth.

In value terms, Liberia ($X) emerged as the key foreign market for insecticides exports from Kuwait, comprising 42% of total exports. The second position in the ranking was held by Ethiopia ($X), with an 18% share of total exports. It was followed by Djibouti, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Liberia totaled +70.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+106.4% per year) and Djibouti (+10.9% per year).

Export Prices by Country

The average insecticide export price stood at $X per ton in 2021, shrinking by -22.5% against the previous year. In general, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 64% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then fell sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Libya ($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 Qatar (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Insecticide Imports

Imports into Kuwait

After three years of growth, overseas purchases of insecticides decreased by -15.6% to X tons in 2021. In general, imports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 61% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, insecticide imports declined remarkably to $X in 2021. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.7% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 42% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted rapidly in the following year.

Imports by Country

Oman (X tons), Jordan (X tons) and Saudi Arabia (X tons) were the main suppliers of insecticide imports to Kuwait, with a combined 44% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +190.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), Oman ($X) and Germany ($X) appeared to be the largest insecticide suppliers to Kuwait, with a combined 38% share of total imports.

Among the main suppliers, Oman, with a CAGR of +228.6%, 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 insecticide import price amounted to $X per ton, which is down by -10.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2016 an increase of 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Hong Kong SAR ($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 (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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