Report Update Feb 1, 2025

Kuwait - Platinum - Market Analysis, Forecast, Size, Trends and Insights

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Kuwait: Platinum Market 2025

Platinum Market Size in Kuwait

After two years of growth, the Kuwaiti platinum market decreased by -26.3% to $X in 2021. Over the period under review, consumption continues to indicate a perceptible shrinkage. Platinum consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Platinum Exports

Exports from Kuwait

In 2021, platinum exports from Kuwait amounted to X kg, standing approx. at 2020. Overall, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,700% against the previous year. As a result, the exports attained the peak of X kg. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, platinum exports amounted to $X in 2021. In general, exports saw significant growth. The pace of growth was the most pronounced in 2018 with an increase of 84%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X kg) was the main destination for platinum exports from Kuwait, with a approx. 50% share of total exports.

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

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

Export Prices by Country

The average platinum export price stood at $X per kg in 2021, approximately mirroring the previous year. Overall, the export price enjoyed significant growth. The growth pace was the most rapid in 2019 when the average export price increased by 41% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2013 to 2021, the rate of growth in terms of prices for Iran amounted to +116.9% per year.

Platinum Imports

Imports into Kuwait

In 2021, overseas purchases of platinum decreased by -23.1% to X kg for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of 170% against the previous year. As a result, imports reached the peak of X kg. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, platinum imports declined markedly to $X in 2021. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 299% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted remarkably in the following year.

Imports by Country

The United Arab Emirates (X kg), Switzerland (X kg) and Austria (X kg) were the main suppliers of platinum imports to Kuwait, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +13.8%), while imports for the other leaders experienced a decline.

In value terms, the largest platinum suppliers to Kuwait were Switzerland ($X), the United Arab Emirates ($X) and Austria ($X), with a combined 96% share of total imports.

Among the main suppliers, Austria, with a CAGR of +31.2%, saw the highest rates of growth with regard to 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

In 2021, the average platinum import price amounted to $X per kg, declining by -3.1% against the previous year. In general, the import price, however, showed buoyant growth. The growth pace was the most rapid in 2017 when the average import price increased by 78%. The import price peaked at $X per kg in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for platinum in the world?

The country with the largest volume of platinum consumption was South Africa, accounting for 59% of total volume. Moreover, platinum consumption in South Africa exceeded the figures recorded by the second-largest consumer, Russia, sixfold. The third position in this ranking was occupied by Zimbabwe, with a 6.5% share.

What are the largest producers of platinum in the world?

South Africa remains the largest platinum producing country worldwide, accounting for 60% of total volume. Moreover, platinum production in South Africa exceeded the figures recorded by the second-largest producer, Russia, sixfold. The third position in this ranking was occupied by Zimbabwe, with a 6.6% share.

What are the leading suppliers of platinum to Kuwait?

In value terms, the largest platinum suppliers to Kuwait were Switzerland, the United Arab Emirates and Austria, together comprising 95% of total imports.

What is the average export price for platinum in Kuwait?

The average platinum export price stood at $46,644 per kg in 2021, approximately reflecting the previous year.

What is the average import price for platinum in Kuwait?

In 2021, the average platinum import price amounted to $582,302 per ton, with an increase of 130% against the previous year.

This report provides an in-depth analysis of the platinum market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24413010 -
Prodcom 24413015 -
Prodcom 24413020 -
Prodcom 24413025 -
Prodcom 24413040 -
Prodcom 24413045 -
Prodcom 24413055 -
Prodcom 24413060 -
Prodcom 24413065 -
Prodcom 24413070 - Platinum catalysts in the form of wire cloth or grill
Prodcom 24413030 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, unwrought or in powder form
Prodcom 24413050 - Platinum, palladium, rhodium, iridium, osmium and ruthenium, in semi-manufactured forms (excluding unwrought or in powder form)

Country coverage:

Kuwait

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Kuwait
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024