Kuwait: Market for Rosin And Resin Acids And Derivatives 2024

Market Size for Rosin And Resin Acids And Derivatives in Kuwait

The Kuwaiti rosin and resin acids market expanded sharply to $X in 2022, surging by X% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Rosin And Resin Acids And Derivatives in Kuwait

In value terms, rosin and resin acids production rose remarkably to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Rosin And Resin Acids And Derivatives

Exports from Kuwait

Rosin and resin acids exports from Kuwait shrank dramatically to less than X kg in 2021, which is down by X% against the year before. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, rosin and resin acids exports soared to $X in 2021. Over the period under review, exports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) and Indonesia (X tons) were the main destinations of rosin and resin acids exports from Kuwait.

From 2012 to 2020, the biggest increases were recorded for Vietnam (with a CAGR of X%).

In value terms, Vietnam ($X) emerged as the key foreign market for rosin and resin acids and derivatives exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total exports.

From 2012 to 2020, the average annual growth rate of value to Vietnam was relatively modest.

Export Prices by Country

The average rosin and resin acids export price stood at $X per ton in 2020, jumping by X% against the previous year. In general, the export price recorded resilient growth. 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 export markets. In 2020, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Indonesia totaled $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%).

Imports of Rosin And Resin Acids And Derivatives

Imports into Kuwait

In 2022, purchases abroad of rosin and resin acids and derivatives decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, rosin and resin acids imports reduced remarkably to $X in 2022. Over the period under review, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest rosin and resin acids supplier to Kuwait, accounting for a X% share of total imports. Moreover, rosin and resin acids imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and France (X% per year).

In value terms, the largest rosin and resin acids suppliers to Kuwait were France ($X), Brazil ($X) and Saudi Arabia ($X), together comprising X% of total imports.

In terms of the main suppliers, France, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

The average rosin and resin acids import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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