Kuwait: Phenolic Resins Market 2025

Phenolic Resins Market Size in Kuwait

In 2021, after two years of decline, there was significant growth in the Kuwaiti phenolic resins market, when its value increased by 623% to $X. Overall, consumption showed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Phenolic Resins Exports

Exports from Kuwait

In 2021, overseas shipments of phenolic resins in primary forms decreased by -91.7% to X tons, falling for the second consecutive year after six years of growth. Overall, exports recorded a precipitous decline. The most prominent rate of growth was recorded in 2019 when exports increased by 677%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, phenolic resins exports shrank markedly to $X in 2021. Over the period under review, exports continue to indicate a precipitous slump. The pace of growth was the most pronounced in 2019 with an increase of 468%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for phenolic resins exports from Kuwait, accounting for a 76% share of total exports. Moreover, phenolic resins exports to Oman exceeded the volume sent to the second major destination, Turkey (X kg), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman was relatively modest.

In value terms, Turkey ($X) emerged as the key foreign market for phenolic resins in primary forms exports from Kuwait, comprising 67% of total exports. The second position in the ranking was held by Oman ($X), with a 33% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey was relatively modest.

Export Prices by Country

In 2021, the average phenolic resins export price amounted to $X per ton, picking up by 6.2% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Oman totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Phenolic Resins Imports

Imports into Kuwait

After two years of decline, supplies from abroad of phenolic resins in primary forms increased by 525% to X tons in 2021. Overall, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, phenolic resins imports skyrocketed to $X in 2021. In general, imports showed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest phenolic resins supplier to Kuwait, accounting for a 14% share of total imports. Moreover, phenolic resins imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates stood at +64.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+7.6% per year) and the United States (-12.7% per year).

In value terms, the largest phenolic resins suppliers to Kuwait were the United States ($X), Mexico ($X) and the United Arab Emirates ($X), together comprising 20% of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +40.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average phenolic resins import price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the import price, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2017 an increase of 57%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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