Report Update: May 1, 2024

Kuwait - Paints And Varnishes - Market Analysis, Forecast, Size, Trends And Insights

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Paint and Varnish Price in Kuwait - 2021

Paint and Varnish Price in Kuwait (CIF) - 2021

In December 2021, the average paint and varnish import price amounted to $2,191 per ton, surging by 5.6% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2021 an increase of 13% m-o-m. Over the period under review, average import prices attained the maximum at $2,936 per ton in September 2021; however, from October 2021 to December 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Italy ($4,188 per ton), while the price for Saudi Arabia ($1,444 per ton) was amongst the lowest.

From January 2021 to December 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Paint and Varnish Price in Kuwait (FOB) - 2022

The average paint and varnish export price stood at $2,470 per ton in 2022, picking up by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2019 an increase of 34% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($5,142 per ton), while the average price for exports to Saudi Arabia ($1,346 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 Qatar (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Paint and Varnish Imports in Kuwait

In 2022, approx. 4.9K tons of paints and varnishes were imported into Kuwait; declining by -82.4% compared with the previous year. In general, imports faced a significant curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 19%. As a result, imports reached the peak of 28K tons, and then reduced rapidly in the following year.

In value terms, paint and varnish imports contracted remarkably to $23M in 2022. Over the period under review, imports recorded a sharp reduction. The growth pace was the most rapid in 2021 when imports increased by 23%. As a result, imports attained the peak of $69M, and then contracted dramatically in the following year.

Import of Paint and Varnish in Kuwait (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	43.2	37.2	47.1	15.0	-29.7%
Saudi Arabia	5.8	6.0	2.8	1.5	-36.3%
Italy	2.6	1.9	2.7	0.9	-29.8%
United Kingdom	2.0	2.1	1.5	0.6	-33.1%
Lebanon	1.4	1.0	1.5	0.5	-29.1%
France	1.2	0.7	1.4	0.4	-30.7%
Others	10.3	7.2	12.0	4.0	-27.0%
Total	66.5	56.0	69.0	22.9	-29.9%

Top Suppliers of Paint and Varnish to Kuwait in 2022:

United Arab Emirates (3745.5 tons)
Saudi Arabia (388.7 tons)
Italy (108.9 tons)
France (90.5 tons)
Lebanon (81.6 tons)
United Kingdom (71.5 tons)

Paint and Varnish Exports in Kuwait

In 2022, after three years of growth, there was significant decline in overseas shipments of paints and varnishes, when their volume decreased by -24.6% to 1.3K tons. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 265% against the previous year.

In value terms, paint and varnish exports fell notably to $3.3M in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 277%.

Export of Paint and Varnish in Kuwait (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Qatar	123	298	1,472	1,155	111.0%
Saudi Arabia	145	707	1,191	935	86.1%
Iraq	166	714	691	542	48.4%
United Arab Emirates	19.7	566	547	429	179.3%
Bahrain	49.7	191	205	161	48.0%
China	N/A	27.0	N/A	N/A	0%
Others	202	155	163	106	-19.3%
Total	705	2,659	4,268	3,327	67.7%

Top Export Markets for Paint and Varnish from Kuwait in 2022:

Saudi Arabia (694.4 tons)
Iraq (243.1 tons)
Qatar (224.6 tons)
United Arab Emirates (100.3 tons)
Bahrain (49.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the paint and varnish market in Kuwait. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20301150 - Paints and varnishes, based on acrylic or vinyl polymers dispersed or dissolved in an aqueous medium (including enamels and lacquers)
Prodcom 20301170 - Other paints, varnishes dispersed or dissolved in an aqueous medium
Prodcom 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
Prodcom 20302213 - Oil paints and varnishes (including enamels and lacquers)
Prodcom 20302215 - Prepared water pigments for finishing leather, paints and varnishes (including enamels, lacquers and distempers) (excluding of oil)

Country coverage:

Kuwait

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Kuwait
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023