Kuwait: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Kuwait

The Kuwaiti polyethylene glycol and polyether market soared to $X in 2021, surging by 62% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Kuwait

For the third year in a row, Kuwait recorded decline in overseas shipments of polyethylene glycols and polyethers in primary forms, which decreased by -34.5% to X tons in 2021. In general, exports, however, showed a temperate increase. The most prominent rate of growth was recorded in 2014 when exports increased by 524% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyethylene glycol and polyether exports fell to $X in 2021. Over the period under review, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 468% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Qatar (X tons) was the main destination for polyethylene glycol and polyether exports from Kuwait, accounting for a 65% share of total exports. Moreover, polyethylene glycol and polyether exports to Qatar exceeded the volume sent to the second major destination, Sudan (X tons), threefold. Jordan (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Qatar stood at +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+26.5% per year) and Jordan (-15.2% per year).

In value terms, Qatar ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Kuwait, comprising 71% of total exports. The second position in the ranking was taken by Sudan ($X), with a 20% share of total exports. It was followed by Jordan, with a 5% share.

From 2012 to 2021, the average annual growth rate of value to Qatar amounted to +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+29.1% per year) and Jordan (-16.3% per year).

Export Prices by Country

In 2021, the average polyethylene glycol and polyether export price amounted to $X per ton, growing by 34% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Kuwait

For the fifth year in a row, Kuwait recorded growth in overseas purchases of polyethylene glycols and polyethers in primary forms, which increased by 31% to X tons in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.8% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 40%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, polyethylene glycol and polyether imports soared to $X in 2021. In general, imports enjoyed a buoyant increase. As a result, imports attained 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 polyethylene glycol and polyether supplier to Kuwait, accounting for a 40% share of total imports. Moreover, polyethylene glycol and polyether imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.3% per year) and China (-8.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of polyethylene glycols and polyethers in primary forms to Kuwait, comprising 43% of total imports. The second position in the ranking was taken by Japan ($X), with a 7.7% share of total imports. It was followed by Mexico, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+22.5% per year) and Mexico (+39.8% per year).

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, with an increase of 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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