Price for Lubricating Preparations Not for the Treatment of Materials in Kuwait - 2022
Contents:
- Price for Lubricating Preparations Not for the Treatment of Materials in Kuwait (CIF) - 2022
- Price for Lubricating Preparations Not for the Treatment of Materials in Kuwait (FOB) - 2022
- Imports of Lubricating Preparations Not for the Treatment of Materials in Kuwait
- Exports of Lubricating Preparations Not for the Treatment of Materials in Kuwait
Price for Lubricating Preparations Not for the Treatment of Materials in Kuwait (CIF) - 2022
The average import price for lubricating preparations not for the treatment of materials stood at $4,832 per ton in 2022, with an increase of 20% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the average import price increased by 37%. The import price peaked in 2022 and is likely to see gradual growth in years to come.
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 China ($9,460 per ton), while the price for India ($1,231 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Preparations Not for the Treatment of Materials in Kuwait (FOB) - 2022
The average export price for lubricating preparations not for the treatment of materials stood at $614 per ton in 2022, with a decrease of -22.7% against the previous year. Overall, the export price showed a abrupt shrinkage. The growth pace was the most rapid in 2021 an increase of 31%. Over the period under review, the average export prices attained the maximum at $1,697 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($889 per ton), while the average price for exports to the United Arab Emirates amounted to $341 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+13.0%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Lubricating Preparations Not for the Treatment of Materials in Kuwait
Imports of lubricating preparations not for the treatment of materials into Kuwait declined to 6.6K tons in 2022, with a decrease of -9.9% compared with 2021 figures. Over the period under review, imports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 32%.
In value terms, imports of lubricating preparations not for the treatment of materials expanded significantly to $32M in 2022. In general, imports saw a mild reduction. The pace of growth appeared the most rapid in 2021 with an increase of 31% against the previous year.
| Import of Lubricating Preparations Not for the Treatment of Materials in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 7.2 | 5.9 | 7.6 | 9.8 | 10.8% |
| United Kingdom | 4.4 | 2.5 | 3.2 | 3.1 | -11.0% |
| United States | 1.8 | 1.2 | 1.4 | 2.5 | 11.6% |
| Belgium | 1.8 | 1.5 | 1.9 | 2.1 | 5.3% |
| Germany | 2.5 | 2.0 | 2.5 | 1.8 | -10.4% |
| South Korea | 0.1 | N/A | 0.3 | 1.1 | 122.4% |
| India | 0.9 | 0.8 | 1.3 | 0.8 | -3.9% |
| Spain | 0.5 | 0.3 | 0.6 | 0.5 | 0.0% |
| Others | 13.5 | 8.4 | 10.4 | 10.1 | -9.2% |
| Total | 32.8 | 22.4 | 29.3 | 31.9 | -0.9% |
Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Kuwait in 2022:
- United Arab Emirates (1785.3 tons)
- India (690.4 tons)
- United Kingdom (570.9 tons)
- Belgium (479.6 tons)
- South Korea (432.2 tons)
- Germany (353.7 tons)
- United States (313.3 tons)
- Spain (133.8 tons)
Exports of Lubricating Preparations Not for the Treatment of Materials in Kuwait
For the fourth year in a row, Kuwait recorded growth in shipments abroad of lubricating preparations not for the treatment of materials, which increased by 8.9% to 5.2K tons in 2022. In general, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +24.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 37% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of lubricating preparations not for the treatment of materials contracted sharply to $3.2M in 2022. Overall, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 68%.
| Export of Lubricating Preparations Not for the Treatment of Materials in Kuwait (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.1 | N/A | 2.3 | 2.2 | 26.0% |
| United Arab Emirates | 1.2 | 2.0 | 0.7 | 0.9 | -9.1% |
| Others | 1.5 | 0.3 | 0.7 | 0.1 | -59.5% |
| Total | 3.9 | 2.3 | 3.8 | 3.2 | -6.4% |
Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Kuwait in 2022:
- United Arab Emirates (2.7K tons)
- India (2.5K tons)
287
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Kuwait.
638
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
287
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Kuwait.
638
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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