Kuwait: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Kuwait

In 2021, the Kuwaiti silicon dioxide market decreased by -40% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, saw a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Silicon Dioxide Exports

Exports from Kuwait

In 2021, overseas shipments of silicon dioxide increased by 438% to X tons, rising for the second consecutive year after two years of decline. In general, exports showed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 2,517%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, silicon dioxide exports surged to $X in 2021. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 535% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons), Syrian Arab Republic (X tons) and Iraq (X tons) were the main destinations of silicon dioxide exports from Kuwait, together comprising 87% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +277.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for silicon dioxide exports from Kuwait, comprising 50% of total exports. The second position in the ranking was held by Tunisia ($X), with an 18% share of total exports. It was followed by Syrian Arab Republic, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +98.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (0.0% per year) and Syrian Arab Republic (-12.2% per year).

Export Prices by Country

In 2021, the average silicon dioxide export price amounted to $X per ton, shrinking by -37.9% against the previous year. In general, the export price faced a abrupt descent. The most prominent rate of growth was recorded in 2014 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 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 Qatar ($X per ton), while the average price for exports to Iraq ($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 (+4.9%), while the prices for the other major destinations experienced a decline.

Silicon Dioxide Imports

Imports into Kuwait

In 2021, supplies from abroad of silicon dioxide decreased by -40.9% to X tons, falling for the third consecutive year after seven years of growth. Overall, imports, however, continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 287% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, silicon dioxide imports shrank sharply to $X in 2021. In general, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 237%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X tons) and the United Arab Emirates (X tons) were the main suppliers of silicon dioxide imports to Kuwait, together accounting for 70% of total imports. These countries were followed by Norway, Spain, France, India and Russia, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +84.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Norway ($X) and China ($X) were the largest silicon dioxide suppliers to Kuwait, with a combined 76% share of total imports. South Korea, Spain, France, India and Russia lagged somewhat behind, together accounting for a further 16%.

Spain, with a CAGR of +49.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silicon dioxide import price stood at $X per ton in 2021, rising by 14% against the previous year. In general, the import price posted a tangible increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 130% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+35.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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