Kuwait: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Kuwait

In 2022, the Kuwaiti market for polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -8% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption faced a sharp contraction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Kuwait

In 2022, approx. X tons of polyethylene terephthalate and other polyethylene terephthalate in primary forms were exported from Kuwait; with a decrease of -31.7% compared with the previous year. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 174%. Over the period under review, the exports of attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms declined significantly to $X in 2022. In general, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 331% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Yemen (X tons), Bahrain (X tons) and Oman (X tons) were the main destinations of exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Kuwait, together accounting for 99% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahrain (with a CAGR of +8.5%), while the other leaders experienced a decline.

In value terms, the largest markets for polyethylene terephthalate and other polyethylene terephthalate in primary forms exported from Kuwait were Yemen ($X), Bahrain ($X) and Oman ($X), together accounting for 99% of total exports.

Bahrain, with a CAGR of -1.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, shrinking by -9.8% against the previous year. In general, the export price showed a noticeable descent. The pace of growth was the most pronounced in 2021 an increase of 58%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-3.7%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Kuwait

In 2022, overseas purchases of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -10.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 37% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank to $X in 2022. Over the period under review, imports recorded a significant decline. The most prominent rate of growth was recorded in 2020 with an increase of 35%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X tons), Oman (X tons) and India (X tons) were the main suppliers of imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Kuwait, with a combined 94% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of -14.7%), while imports for the other leaders experienced a decline.

In value terms, the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms suppliers to Kuwait were Taiwan (Chinese) ($X), Oman ($X) and India ($X), with a combined 96% share of total imports.

In terms of the main suppliers, Oman, with a CAGR of -18.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price showed a deep slump. The pace of growth was the most pronounced in 2020 when the average import price increased by 0.2%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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