Kuwait: Vegetable Tanning Extracts Market 2024

Vegetable Tanning Extracts Market Size in Kuwait

In 2022, the Kuwaiti vegetable tanning extracts market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, recorded a perceptible slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Tanning Extracts Production in Kuwait

In value terms, vegetable tanning extracts production rose sharply to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 1,186%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Tanning Extracts Exports

Exports from Kuwait

For the eleventh consecutive year, Kuwait recorded growth in shipments abroad of tanning extracts of vegetable origin, tannins and their salts other derivatives, which increased by 4.6% to X tons in 2022. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 288% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, vegetable tanning extracts exports rose remarkably to $X in 2022. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 193%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for vegetable tanning extracts exports from Kuwait, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +34.6%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for tanning extracts of vegetable origin, tannins and their salts other derivatives exports from Kuwait.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +39.3%.

Export Prices by Country

In 2022, the average vegetable tanning extracts export price amounted to $X per ton, picking up by 2.6% against the previous year. Over the period under review, the export price recorded a noticeable expansion. The pace of growth was the most pronounced in 2016 when the average export price increased by 43%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +3.5% per year.

Vegetable Tanning Extracts Imports

Imports into Kuwait

In 2022, approx. X tons of tanning extracts of vegetable origin, tannins and their salts other derivatives were imported into Kuwait; with an increase of 96% on 2021 figures. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 2,218% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, vegetable tanning extracts imports surged to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,725%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of vegetable tanning extracts to Kuwait, with a 54% share of total imports. Moreover, vegetable tanning extracts imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. China (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +95.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.7% per year) and China (+80.5% per year).

In value terms, the largest vegetable tanning extracts suppliers to Kuwait were Germany ($X), Spain ($X) and the United Arab Emirates ($X), with a combined 45% share of total imports. China and Belgium lagged somewhat behind, together accounting for a further 13%.

Belgium, with a CAGR of +112.1%, saw the highest rates of growth with regard to 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 vegetable tanning extracts import price stood at $X per ton in 2022, growing by 11% against the previous year. Overall, the import price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 an increase of 83%. 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 the United Arab Emirates ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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