Kuwait: Lubricant Additives Market 2024

Lubricant Additives Market Size in Kuwait

The Kuwaiti lubricant additives market surged to $X in 2022, jumping by X% against the previous year. Overall, consumption saw perceptible growth. Lubricant additives consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Lubricant Additives Production in Kuwait

In value terms, lubricant additives production surged to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt shrinkage. Lubricant additives production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from Kuwait

In 2022, overseas shipments of prepared additives for mineral oils increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports surged to $X in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for lubricant additives exports from Kuwait, with a X% share of total exports. Moreover, lubricant additives exports to the United Arab Emirates exceeded the volume sent to the second major destination, Iran (X tons), more than tenfold. The third position in this ranking was held by Iraq (X tons), with a X% share.

From 2013 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (X% per year) and Iraq (X% per year).

In value terms, the United Arab Emirates ($X), Iran ($X) and Iraq ($X) appeared to be the largest markets for lubricant additives exported from Kuwait worldwide, together comprising X% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lubricant additives export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price showed a abrupt downturn. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricant Additives Imports

Imports into Kuwait

In 2022, supplies from abroad of prepared additives for mineral oils increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives imports soared to $X in 2022. Over the period under review, imports saw prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), the United States (X tons) and the UK (X tons) were the main suppliers of lubricant additives imports to Kuwait, together comprising X% of total imports. China, Saudi Arabia, Belgium, Singapore, Germany and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United States ($X) and the UK ($X) appeared to be the largest lubricant additives suppliers to Kuwait, with a combined X% share of total imports. China, Saudi Arabia, Belgium, Singapore, Germany and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Singapore, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average lubricant additives import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated a prominent increase from 2013 to 2022: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lubricant additives import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and Singapore ($X per ton), while the price for Saudi Arabia ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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