Kuwait: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Kuwait

In 2021, the Kuwaiti polyethylene in primary forms market increased by 337% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption recorded a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene in Primary Forms in Kuwait

In value terms, polyethylene in primary forms production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2019 when the production volume increased by 72% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports from Kuwait

In 2021, the amount of polyethylene in primary forms exported from Kuwait contracted dramatically to X tons, falling by -45.8% against the previous year's figure. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2019 with an increase of 119% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms exports declined sharply to $X in 2021. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 96% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), the United Arab Emirates (X tons) and Vietnam (X tons) were the main destinations of polyethylene in primary forms exports from Kuwait, together accounting for 48% of total exports. These countries were followed by Syrian Arab Republic, India, Jordan, Oman, Malaysia, Cote d'Ivoire, Togo, Bahrain, Sudan and Hong Kong SAR, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +22.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene in primary forms exported from Kuwait were China ($X), the United Arab Emirates ($X) and Syrian Arab Republic ($X), together comprising 46% of total exports. Vietnam, India, Jordan, Oman, Cote d'Ivoire, Togo, Malaysia, Bahrain, Sudan and Hong Kong SAR lagged somewhat behind, together comprising a further 29%.

Togo, with a CAGR of +17.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polyethylene in primary forms export price stood at $X per ton in 2021, increasing by 20% against the previous year. Over the period under review, the export price, however, showed a perceptible contraction. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Sudan ($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 Sudan (-2.5%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene in Primary Forms

Imports into Kuwait

In 2021, after two years of decline, there was significant growth in overseas purchases of polyethylene in primary forms, when their volume increased by 6.1% to X tons. Overall, imports, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 48% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, polyethylene in primary forms imports stood at $X in 2021. Over the period under review, imports, however, showed a slight descent. The growth pace was the most rapid in 2018 with an increase of 59%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of polyethylene in primary forms to Kuwait, accounting for a 49% share of total imports. Moreover, polyethylene in primary forms imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Qatar (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (-5.7% per year) and the United Arab Emirates (-6.7% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of polyethylene in primary forms to Kuwait, comprising 48% of total imports. The second position in the ranking was taken by Qatar ($X), with a 21% share of total imports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (-6.6% per year) and the United Arab Emirates (-6.1% per year).

Import Prices by Country

In 2021, the average polyethylene in primary forms import price amounted to $X per ton, picking up by 3.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 8.5% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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