Kuwait: Other Chemical Products Market 2024

Other Chemical Products Market Size in Kuwait

The Kuwaiti other chemical products market contracted modestly to $X in 2022, waning by -1.7% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. 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.

Other Chemical Products Production in Kuwait

In value terms, other chemical products production fell to $X in 2022 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.9% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 53% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Other Chemical Products Exports

Exports from Kuwait

After four years of growth, overseas shipments of other chemical products decreased by -12.7% to X tons in 2022. Overall, exports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2013 with an increase of 69% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, other chemical products exports reduced to $X in 2022. Over the period under review, exports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2013 when exports increased by 74% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), Qatar (X tons) and Sudan (X tons) were the main destinations of other chemical products exports from Kuwait, with a combined 76% share of total exports. Turkey, Egypt, China, South Korea, Vietnam and Jordan lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +176.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), Sudan ($X) and Italy ($X) appeared to be the largest markets for other chemical products exported from Kuwait worldwide, with a combined 77% share of total exports. Egypt, Vietnam, Turkey, Jordan, South Korea and China lagged somewhat behind, together accounting for a further 14%.

South Korea, with a CAGR of +99.8%, saw the highest rates of growth with regard to the value of exports, among 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 2022, the average other chemical products export price amounted to $X per ton, growing by 5.5% against the previous year. In general, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, other chemical products export price increased by +16.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 58% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to China ($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 Jordan (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Kuwait

In 2022, the amount of other chemical products imported into Kuwait rose markedly to X tons, increasing by 15% on the year before. Overall, imports, however, showed a dramatic curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 69% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, other chemical products imports soared to $X in 2022. In general, imports, however, showed a precipitous shrinkage. The pace of growth was the most pronounced in 2020 when imports increased by 135% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest other chemical products supplier to Kuwait, with a 58% share of total imports. Moreover, other chemical products imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. The third position in this ranking was taken by Saudi Arabia (X tons), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-13.6% per year) and Saudi Arabia (-16.9% per year).

In value terms, the largest other chemical products suppliers to Kuwait were the United States ($X), Italy ($X) and the UK ($X), together accounting for 66% of total imports. Saudi Arabia, Germany, India, Norway, France, Jordan, the United Arab Emirates, the Netherlands, Spain and South Korea lagged somewhat behind, together comprising a further 22%.

Among the main suppliers, Norway, with a CAGR of +12.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average other chemical products import price amounted to $X per ton, rising by 2.4% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, other chemical products import price increased by +42.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 41% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 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 France ($X per ton), while the price for Jordan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+28.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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