Kuwait: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Kuwait

In 2021, the Kuwaiti aqueous paint and varnish market decreased by -20.9% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a resilient expansion. Aqueous paint and varnish consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Kuwait

In value terms, aqueous paint and varnish production amounted to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 98%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Kuwait

In 2021, shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 69% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 450% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, aqueous paint and varnish exports soared to $X in 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 390% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), Iraq (X tons) and Qatar (X tons) were the main destinations of aqueous paint and varnish exports from Kuwait, together accounting for 87% of total exports. Jordan, Turkey, Egypt, Sudan and Yemen lagged somewhat behind, together comprising a further 8.9%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +104.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) emerged as the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Kuwait, comprising 66% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 15% share of total exports. It was followed by Iraq, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Qatar totaled +63.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+44.5% per year) and Iraq (+50.3% per year).

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, picking up by 32% against the previous year. Overall, the export price, however, saw a mild decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+6.9%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Kuwait

In 2021, purchases abroad of paints and varnishes dispersed or dissolved in an aqueous medium decreased by -19% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2018 when imports increased by 64%. Over the period under review, imports hit record highs at X tons in 2020, and then contracted markedly in the following year.

In value terms, aqueous paint and varnish imports shrank to $X in 2021. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 49% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of aqueous paint and varnish to Kuwait, with a 51% share of total imports. Moreover, aqueous paint and varnish imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), sixfold. The third position in this ranking was held by Italy (X tons), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates amounted to +51.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (-12.5% per year) and Italy (+22.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Kuwait, comprising 29% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +50.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.8% per year) and Saudi Arabia (-8.8% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, rising by 8.8% against the previous year. Overall, the import price, however, recorded a slight curtailment. The pace of growth was the most pronounced in 2016 an increase of 28% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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