Kuwait: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Kuwait

The Kuwaiti market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium skyrocketed to $X in 2022, jumping by 24% 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). In general, consumption enjoyed a prominent expansion. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Kuwait

In 2022, shipments abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium decreased by -22.5% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 767% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium shrank dramatically to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 954% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Saudi Arabia (X tons) and Iraq (X tons) were the main destinations of exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Kuwait, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +79.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exported from Kuwait were Qatar ($X), Saudi Arabia ($X) and Iraq ($X), together accounting for 98% of total exports.

In terms of the main countries of destination, Qatar, with a CAGR of +54.1%, saw the highest rates of growth with regard to the value of exports, 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 export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, surging by 2.8% against the previous year. Over the period under review, the export price, however, showed a deep reduction. The pace of growth appeared the most rapid in 2015 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Sudan ($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 India (+1.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Kuwait

Imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium into Kuwait surged to X tons in 2022, increasing by 15% on 2021 figures. In general, imports posted prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 118%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium rose notably to $X in 2022. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 115% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest paints and varnishes, based on acrylic or vinyl polymers, aqueous medium supplier to Kuwait, with a 55% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+36.2% per year) and Italy (+16.7% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Kuwait, comprising 41% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+38.9% per year) and Italy (+9.3% per year).

Import Prices by Country

The average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, falling by -2.2% against the previous year. In general, the import price recorded a perceptible contraction. The pace of growth was the most pronounced in 2019 an increase of 10% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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