Kuwait: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Kuwait

The Kuwaiti non-rolled bitumen products market rose remarkably to $X in 2022, growing by 7.6% against the previous year. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.7% against 2020 indices. Non-rolled bitumen products consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Non-Rolled Bitumen Products Production in Kuwait

In value terms, non-rolled bitumen products production totaled $X in 2022 estimated in export price. In general, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 449% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Non-Rolled Bitumen Products Exports

Exports from Kuwait

Non-rolled bitumen products exports from Kuwait declined markedly to X tons in 2022, dropping by -18.5% compared with the previous year. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 2,271%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-rolled bitumen products exports fell sharply to $X in 2022. In general, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 1,651% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for non-rolled bitumen products exports from Kuwait, accounting for a 50% share of total exports. Moreover, non-rolled bitumen products exports to Jordan exceeded the volume sent to the second major destination, Iraq (X tons), twofold. The third position in this ranking was held by Qatar (X tons), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to Jordan amounted to +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+9.8% per year) and Qatar (-1.6% per year).

In value terms, the largest markets for non-rolled bitumen products exported from Kuwait were Jordan ($X), Qatar ($X) and Iraq ($X), with a combined 63% share of total exports. Saudi Arabia, Yemen, Egypt and Iran lagged somewhat behind, together accounting for a further 30%.

Iran, with a CAGR of +45.7%, 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

The average non-rolled bitumen products export price stood at $X per ton in 2022, dropping by -7.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 25% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

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 Qatar ($X per ton), while the average price for exports to Jordan ($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 Qatar (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Rolled Bitumen Products Imports

Imports into Kuwait

In 2022, supplies from abroad of non-rolled bitumen products increased by 5.3% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2015 with an increase of 152% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, non-rolled bitumen products imports reduced slightly to $X in 2022. Overall, imports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 107% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest non-rolled bitumen products supplier to Kuwait, accounting for a 72% share of total imports. Moreover, non-rolled bitumen products imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), ninefold. Bahrain (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia stood at +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-25.4% per year) and Bahrain (+60.8% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of non-rolled bitumen products to Kuwait, comprising 64% of total imports. The second position in the ranking was held by China ($X), with a 9.4% share of total imports. It was followed by Bahrain, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.1% per year) and Bahrain (+22.7% per year).

Import Prices by Country

The average non-rolled bitumen products import price stood at $X per ton in 2022, waning by -6.3% against the previous year. Over the last decade, it increased at an average annual rate of +4.6%. The most prominent rate of growth was recorded in 2013 an increase of 46% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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