Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait - 2022

Contents:

  1. Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait (CIF) - 2022
  2. Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait (FOB) - 2022
  3. Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait
  4. Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait

Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait (CIF) - 2022

The average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $1,294 per ton in 2022, which is down by -50% against the previous year. Over the period under review, the import price recorded a perceptible contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by 86% against the previous year. Over the period under review, average import prices reached the peak figure at $2,588 per ton in 2021, and then contracted dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($4,186 per ton), while the price for the UK ($562 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 States (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait (FOB) - 2022

The average export price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $110 per ton in 2022, picking up by 18% against the previous year. Overall, the export price, however, continues to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices hit record highs at $1,072 per ton in 2012; however, from 2013 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 Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -20.4% per year.

Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait

In 2022, after two years of decline, there was significant growth in overseas purchases of acids; saturated acyclic monocarboxylic acids; salts of formic acidses, when their volume increased by 261% to 12 tons. In general, imports, however, continue to indicate a deep setback.

In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses skyrocketed to $15K in 2022. Overall, imports, however, showed a deep reduction.

Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
United Arab Emirates4.08.52.14.43.2%
China4.98.51.41.7-29.7%
United States1.12.70.71.613.3%
Germany0.10.50.21.6152.0%
Spain0.92.51.21.03.6%
India0.90.90.20.4-23.7%
United Kingdom0.20.50.10.314.5%
Saudi Arabia7.6N/AN/AN/A0%
Others9.00.42.74.3-21.8%
Total28.724.58.515.4-18.7%

Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to Kuwait in 2022:

  1. United Arab Emirates (3.7 tons)
  2. China (1.4 tons)
  3. India (0.6 tons)
  4. United Kingdom (0.6 tons)
  5. Spain (0.6 tons)
  6. United States (0.4 tons)
  7. Germany (0.4 tons)

Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait

In 2022, shipments abroad of acids; saturated acyclic monocarboxylic acids; salts of formic acidses decreased by -32.1% to 62 tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2020 when exports increased by 18%.

In value terms, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses reduced rapidly to $6.8K in 2022. In general, exports showed a sharp downturn. The smallest decline of -20% was in 2020.

Export of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Kuwait (Thousand USD)
COUNTRY2019202020212022CAGR,
2019-2022
Saudi Arabia13.310.68.56.8-20.0%
OthersN/AN/AN/AN/A0%
Total13.310.68.56.8-20.0%

Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids from Kuwait in 2022:

  1. Saudi Arabia (61.6 tons)

Source: IndexBox Market Intelligence Platform

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