Report Update Apr 1, 2024

Kuwait - Natural Bitumen and Asphalt - Market Analysis, Forecast, Size, Trends and Insights

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Kuwait: Market for Natural Bitumen and Asphalt 2024

Market Size for Natural Bitumen and Asphalt in Kuwait

The Kuwaiti natural bitumen and asphalt market surged to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Natural Bitumen and Asphalt

Exports from Kuwait

Natural bitumen and asphalt exports from Kuwait shrank dramatically to X tons in 2022, waning by X% against the year before. Over the period under review, exports showed a sharp slump. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, natural bitumen and asphalt exports dropped dramatically to $X in 2022. Overall, exports faced a sharp downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for natural bitumen and asphalt exports from Kuwait, with a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia was relatively modest.

In value terms, Saudi Arabia ($X) emerged as the key foreign market for natural bitumen and asphalt exports from Kuwait.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia was relatively modest.

Export Prices by Country

The average natural bitumen and asphalt export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price showed a abrupt descent. The growth pace was the most rapid in 2016 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Iraq amounted to X% per year.

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Imports of Natural Bitumen and Asphalt

Imports into Kuwait

Natural bitumen and asphalt imports into Kuwait soared to X tons in 2022, picking up by X% on the previous year's figure. Overall, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, natural bitumen and asphalt imports skyrocketed to $X in 2022. In general, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest natural bitumen and asphalt supplier to Kuwait, with a X% share of total imports. Moreover, natural bitumen and asphalt imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Argentina (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Argentina (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of natural bitumen and asphalt to Kuwait, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

Import Prices by Country

The average natural bitumen and asphalt import price stood at $X per ton in 2022, reducing by X% against the previous year. In general, the import price showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for natural bitumen and asphalt in the world?

The countries with the highest volumes of consumption in 2023 were Venezuela, Canada and Kazakhstan, together accounting for 86% of global consumption.

What are the largest producers of natural bitumen and asphalt in the world?

The countries with the highest volumes of production in 2022 were Venezuela, Canada and Kazakhstan, together accounting for 85% of global production.

What are the leading suppliers of natural bitumen and asphalt to Kuwait?

In value terms, the United Arab Emirates constituted the largest supplier of natural bitumen and asphalt to Kuwait, comprising 64% of total imports. The second position in the ranking was taken by India, with a 25% share of total imports. It was followed by China, with a 4.6% share.

What are the leading importers of natural bitumen and asphalt from Kuwait?

In value terms, Saudi Arabia emerged as the key foreign market for natural bitumen and asphalt exports from Kuwait.

What is the average export price for natural bitumen and asphalt in Kuwait?

The average natural bitumen and asphalt export price stood at $882 per ton in 2022, with a decrease of -48.5% against the previous year.

What is the average import price for natural bitumen and asphalt in Kuwait?

The average natural bitumen and asphalt import price stood at $712 per ton in 2022, dropping by -25.7% against the previous year.

This report provides an in-depth analysis of the market for natural bitumen and asphalt 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 08991000 - Natural bitumen and natural asphalt, asphaltites and asphaltic rocks

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