Kuwait: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Kuwait

The Kuwaiti aromatic hydrocarbon mixtures market shrank notably to $X in 2022, which is down by -31.5% against the previous year. Overall, consumption recorded a noticeable shrinkage. Aromatic hydrocarbon mixtures consumption peaked at $X in 2021, and then dropped rapidly in the following year.

Aromatic Hydrocarbon Mixtures Production in Kuwait

In value terms, aromatic hydrocarbon mixtures production fell to $X in 2022 estimated in export price. Overall, production saw a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 71% against the previous year. Aromatic hydrocarbon mixtures production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Aromatic Hydrocarbon Mixtures Exports

Exports from Kuwait

In 2022, approx. X tons of naphthalene and other aromatic hydrocarbon mixtures were exported from Kuwait; surging by 515% on the previous year's figure. In general, exports, however, saw a slight downturn. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, aromatic hydrocarbon mixtures exports soared to $X in 2022. Over the period under review, exports, however, saw a abrupt setback. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for aromatic hydrocarbon mixtures exports from Kuwait, with a 67% share of total exports. Moreover, aromatic hydrocarbon mixtures exports to India exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Egypt (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume to India totaled +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+7.3% per year) and Egypt (+38.7% per year).

In value terms, India ($X) remains the key foreign market for naphthalene and other aromatic hydrocarbon mixtures exports from Kuwait, comprising 82% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.6% share of total exports. It was followed by Mauritius, with a 4% share.

From 2012 to 2022, the average annual growth rate of value to India amounted to +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+11.1% per year) and Mauritius (+13.2% per year).

Export Prices by Country

The average aromatic hydrocarbon mixtures export price stood at $X per ton in 2022, surging by 8.8% against the previous year. In general, the export price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2021 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to the United Arab Emirates ($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 Sri Lanka (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Hydrocarbon Mixtures Imports

Imports into Kuwait

In 2022, imports of naphthalene and other aromatic hydrocarbon mixtures into Kuwait surged to X tons, growing by 17% against 2021 figures. In general, imports showed a prominent increase. The growth pace was the most rapid in 2013 when imports increased by 129% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, aromatic hydrocarbon mixtures imports rose markedly to $X in 2022. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 145% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of aromatic hydrocarbon mixtures to Kuwait, accounting for a 54% share of total imports. Moreover, aromatic hydrocarbon mixtures imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was held by South Korea (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+28.0% per year) and South Korea (+31.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of naphthalene and other aromatic hydrocarbon mixtures to Kuwait, comprising 54% of total imports. The second position in the ranking was held by Singapore ($X), with a 20% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+25.7% per year) and South Korea (+31.0% per year).

Import Prices by Country

In 2022, the average aromatic hydrocarbon mixtures import price amounted to $X per ton, waning by -1.8% against the previous year. Overall, the import price showed a slight descent. The most prominent rate of growth was recorded in 2013 an increase of 7%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the Netherlands ($X per ton), while the price for Singapore ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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