Kuwait: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Kuwait

The Kuwaiti reaction initiators and accelerators market soared to $X in 2022, with an increase of 395% against the previous year. In general, consumption enjoyed a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Kuwait

In value terms, reaction initiators and accelerators production reduced dramatically to $X in 2022 estimated in export price. Overall, production, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2021 when the production volume increased by 84%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Kuwait

In 2022, reaction initiators and accelerators exports from Kuwait contracted notably to X tons, with a decrease of -51.6% compared with 2021. In general, exports, however, showed a slight increase. The most prominent rate of growth was recorded in 2018 when exports increased by 106% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, reaction initiators and accelerators exports dropped significantly to $X in 2022. Over the period under review, exports, however, posted modest growth. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for reaction initiators and accelerators exports from Kuwait, with a 66% share of total exports. Moreover, reaction initiators and accelerators exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Japan (X tons), tenfold. The United States (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+4.3% per year) and the United States (-6.7% per year).

In value terms, the largest markets for reaction initiators and accelerators exported from Kuwait were Taiwan (Chinese) ($X), the United States ($X) and Japan ($X), with a combined 63% share of total exports. Malaysia, China, Vietnam, South Korea and Canada lagged somewhat behind, together accounting for a further 28%.

Malaysia, with a CAGR of +39.4%, 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 reaction initiators and accelerators export price stood at $X per ton in 2022, with a decrease of -22.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 57% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 the United States (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Kuwait

In 2022, overseas purchases of reaction initiators, reaction accelerators and catalytic preparations were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 137%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, reaction initiators and accelerators imports soared to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 166%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of reaction initiators and accelerators to Kuwait, accounting for a 48% share of total imports. Moreover, reaction initiators and accelerators imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Denmark (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.8% per year) and Denmark (+25.2% per year).

In value terms, the United States ($X) constituted the largest supplier of reaction initiators, reaction accelerators and catalytic preparations to Kuwait, comprising 55% of total imports. The second position in the ranking was taken by Denmark ($X), with a 15% share of total imports. It was followed by Japan, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+25.7% per year) and Japan (+14.1% per year).

Import Prices by Country

In 2022, the average reaction initiators and accelerators import price amounted to $X per ton, rising by 4.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 15%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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