Kuwait: Natural Polymers Market 2024

Natural Polymers Market Size in Kuwait

The Kuwaiti natural polymers market totaled $X in 2021, picking up by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +89.4% against 2016 indices. Natural polymers consumption peaked in 2021 and is expected to retain growth in the immediate term.

Natural Polymers Exports

Exports from Kuwait

In 2021, shipments abroad of natural and modified natural polymers in primary forms was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 396%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, natural polymers exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 552%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bahrain (X tons), Qatar (X tons) and Egypt (X tons) were the main destinations of natural polymers exports from Kuwait, together comprising 72% 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 Egypt (with a CAGR of +116.0%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), Bahrain ($X) and Egypt ($X) constituted the largest markets for natural polymers exported from Kuwait worldwide, with a combined 79% share of total exports.

Qatar, with a CAGR of +82.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average natural polymers export price amounted to $X per ton, reducing by -18.2% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the average export price increased by 41%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Polymers Imports

Imports into Kuwait

Natural polymers imports into Kuwait rose sharply to X tons in 2021, growing by 11% on 2020 figures. In general, imports showed buoyant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 111%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, natural polymers imports expanded significantly to $X in 2021. Over the period under review, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 99.9%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest natural polymers supplier to Kuwait, with a 76% share of total imports. Moreover, natural polymers imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold. The United States (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+67.4% per year) and the United States (+34.8% per year).

In value terms, China ($X) constituted the largest supplier of natural and modified natural polymers in primary forms to Kuwait, comprising 63% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 10% share of total imports. It was followed by the United States, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+55.2% per year) and the United States (+30.7% per year).

Import Prices by Country

In 2021, the average natural polymers import price amounted to $X per ton, growing by 3.1% against the previous year. Overall, the import price, however, saw a perceptible decrease. The growth pace was the most rapid in 2018 an increase of 53%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :