Kuwait: Isocyanates Market 2024

Isocyanates Market Size in Kuwait

The Kuwaiti isocyanates market shrank to $X in 2022, which is down by X% against the previous year. Overall, consumption saw a mild decline. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Isocyanates Production in Kuwait

In value terms, isocyanates production fell to $X in 2022 estimated in export price. Overall, production showed a pronounced contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Isocyanates Exports

Exports from Kuwait

In 2022, the amount of isocyanates exported from Kuwait contracted markedly to X tons, shrinking by X% compared with the previous year's figure. Overall, exports recorded a dramatic contraction. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, isocyanates exports reduced markedly to $X in 2022. Over the period under review, exports recorded a dramatic decline. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Egypt (X tons), Jordan (X tons) and Cyprus (X kg) were the main destinations of isocyanates exports from Kuwait, together accounting for X% of total exports. Qatar, Sudan and Iran lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Egypt ($X), Jordan ($X) and Cyprus ($X) were the largest markets for isocyanates exported from Kuwait worldwide, with a combined X% share of total exports. Qatar, Sudan and Iran lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Qatar, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, recorded a abrupt slump. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (X%), while the prices for the other major destinations experienced a decline.

Isocyanates Imports

Imports into Kuwait

In 2022, the amount of isocyanates imported into Kuwait fell to X tons, reducing by X% compared with the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, isocyanates imports declined to $X in 2022. Over the period under review, imports showed a mild shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), South Korea (X tons) and China (X tons) were the main suppliers of isocyanates imports to Kuwait, together accounting for X% of total imports. Saudi Arabia, India, the Netherlands, Japan and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and China ($X) appeared to be the largest isocyanates suppliers to Kuwait, with a combined X% share of total imports. Saudi Arabia, the Netherlands, India, Japan and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of X%, recorded 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 2022, the average isocyanates import price amounted to $X per ton, dropping by X% against the previous year. Overall, the import price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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