Kuwait: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Kuwait

After two years of growth, the Kuwaiti industrial monocarboxylic fatty acids market decreased by X% to $X in 2023. Overall, the total consumption indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2022, and then dropped in the following year.

Production of Industrial Monocarboxylic Fatty Acids in Kuwait

In value terms, industrial monocarboxylic fatty acids production totaled $X in 2023 estimated in export price. Overall, production posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Industrial monocarboxylic fatty acids production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Kuwait

In 2023, approx. X tons of industrial monocarboxylic fatty acids were exported from Kuwait; jumping by X% against 2022 figures. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids exports skyrocketed to $X in 2023. In general, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Kuwait, accounting for a X% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to Qatar exceeded the volume sent to the second major destination, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Pakistan (X% per year).

In value terms, Qatar ($X) remains the key foreign market for industrial monocarboxylic fatty acids exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the average industrial monocarboxylic fatty acids export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Kuwait

In 2023, industrial monocarboxylic fatty acids imports into Kuwait dropped remarkably to X tons, declining by X% on the previous year. Overall, imports recorded a pronounced decline. The pace of growth appeared the most rapid in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, industrial monocarboxylic fatty acids imports shrank dramatically to $X in 2023. In general, imports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at $X in 2022, and then reduced dramatically in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of industrial monocarboxylic fatty acids to Kuwait, with a X% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a X% share.

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

In value terms, Saudi Arabia ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Kuwait, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Italy (X% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($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