Kuwait: Market for Petroleum Lubricating Oil And Grease 2025

Market Size for Petroleum Lubricating Oil And Grease in Kuwait

After two years of decline, the Kuwaiti market for petroleum lubricating oil and grease increased by X% to $X in 2022. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Petroleum Lubricating Oil And Grease in Kuwait

In value terms, petroleum lubricating oil and grease production reached $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Kuwait

In 2022, overseas shipments of petroleum lubricating oil and grease increased by X% to X tons, rising for the third consecutive year after five years of decline. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports expanded rapidly to $X in 2022. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for petroleum lubricating oil and grease exports from Kuwait, accounting for a X% share of total exports. It was followed by the United Arab Emirates (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at X%.

In value terms, India ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to X%.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price, however, recorded a mild decrease. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Kuwait

In 2022, approx. X tons of petroleum lubricating oil and grease were imported into Kuwait; declining by X% compared with 2021 figures. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports contracted to $X in 2022. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest petroleum lubricating oil and grease supplier to Kuwait, accounting for a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was held by India (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and India (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of petroleum lubricating oil and grease to Kuwait, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Belgium (X% per year).

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

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

Source: IndexBox Platform

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