Kuwait: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Kuwait

The Kuwaiti plastics in primary forms market expanded sharply to $X in 2023, picking up by X% against the previous year. Overall, the total consumption indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Plastics in Primary Forms in Kuwait

In value terms, plastics in primary forms production fell slightly to $X in 2023 estimated in export price. In general, production showed a perceptible contraction. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Plastics in primary forms production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Exports of Plastics in Primary Forms

Exports from Kuwait

In 2023, the amount of plastics in primary formses exported from Kuwait dropped markedly to X tons, waning by X% compared with 2022 figures. Over the period under review, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, plastics in primary forms exports declined remarkably to $X in 2023. Overall, exports recorded a pronounced shrinkage. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for plastics in primary forms exports from Kuwait, accounting for a X% share of total exports. Moreover, plastics in primary forms exports to China exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Vietnam (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Vietnam (X% per year).

In value terms, China ($X), Egypt ($X) and India ($X) appeared to be the largest markets for plastics in primary forms exported from Kuwait worldwide, with a combined X% share of total exports. Pakistan, the United Arab Emirates, Indonesia, Vietnam, Turkey, Jordan, Malaysia, Italy, the UK and Japan lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Pakistan, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average plastics in primary forms export price amounted to $X per ton, leveling off at the previous year. Overall, the export price recorded slight growth. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2023.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports into Kuwait

In 2023, approx. X tons of plastics in primary formses were imported into Kuwait; growing by X% compared with the previous year. Overall, imports, however, continue to indicate a slight slump. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, plastics in primary forms imports stood at $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of plastics in primary forms imports to Kuwait, together accounting for X% of total imports. The United States, South Korea, Taiwan (Chinese), Germany, Belgium, Thailand, Qatar, India and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and China ($X) were the largest plastics in primary forms suppliers to Kuwait, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 plastics in primary forms import price stood at $X per ton in 2023, reducing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform