Kuwait: Polyamide Market 2024

Polyamide Market Size in Kuwait

The Kuwaiti polyamide market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, saw a deep contraction. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Polyamide Exports

Exports from Kuwait

In 2021, polyamide exports from Kuwait soared to X tons, growing by 40% against 2020 figures. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 586%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyamide exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 748%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), Colombia (X tons) and Jordan (X tons) were the main destinations of polyamide exports from Kuwait, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +88.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Colombia ($X) emerged as the key foreign market for polyamides (in primary forms) exports from Kuwait, comprising 82% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 9.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Colombia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+83.0% per year) and Jordan (+4.4% per year).

Export Prices by Country

In 2021, the average polyamide export price amounted to $X per ton, waning by -3.1% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyamide export price increased by +40.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average 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 Colombia ($X per ton), while the average price for exports to Saudi Arabia ($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 India (+48.4%), while the prices for the other major destinations experienced mixed trend patterns.

Polyamide Imports

Imports into Kuwait

After three years of decline, overseas purchases of polyamides (in primary forms) increased by 8.7% to X tons in 2021. In general, imports, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2017 with an increase of 31%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, polyamide imports expanded remarkably to $X in 2021. Overall, imports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 41%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of polyamide imports to Kuwait, with a combined 69% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +98.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of polyamides (in primary forms) to Kuwait, comprising 49% of total imports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total imports. It was followed by Singapore, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from the United Arab Emirates totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+76.5% per year) and Singapore (-0.7% per year).

Import Prices by Country

The average polyamide import price stood at $X per ton in 2021, falling by -3% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, 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 Singapore ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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