Asia: Polyethylene Glycol Wax Market 2025

Polyethylene Glycol Wax Market Size in Asia

The Asian polyethylene glycol wax market rose notably to $X in 2021, picking up by 10% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.8% against 2014 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Production in Asia

In value terms, polyethylene glycol wax production declined modestly to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +34.4% against 2014 indices. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank slightly in the following year.

Polyethylene Glycol Wax Exports

Exports in Asia

In 2021, shipments abroad of artificial and prepared waxes of polyethylene glycol decreased by -8.2% to X tons, falling for the second year in a row after four years of growth. Overall, exports, however, showed a strong increase. The growth pace was the most rapid in 2017 when exports increased by 191%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports soared to $X in 2021. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 130%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

South Korea represented the key exporting country with an export of about X tons, which amounted to 75% of total exports. It was distantly followed by China (X tons), comprising a 12% share of total exports. The following exporters - India (X tons) and Malaysia (X tons) - together made up 6.3% of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyethylene glycol wax exports from South Korea stood at +6.7%. At the same time, China (+41.3%), India (+28.9%) and Malaysia (+12.7%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +41.3% from 2012-2021. China (+11 p.p.) and India (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -11.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest polyethylene glycol wax supplier in Asia, comprising 62% of total exports. The second position in the ranking was held by China ($X), with a 23% share of total exports. It was followed by India, with a 5.8% share.

In South Korea, polyethylene glycol wax exports expanded at an average annual rate of +5.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: China (+44.4% per year) and India (+32.5% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 27% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2015; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Polyethylene Glycol Wax Imports

Imports in Asia

Polyethylene glycol wax imports surged to X tons in 2021, increasing by 42% on 2020 figures. Over the period under review, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax imports soared to $X in 2021. In general, imports saw a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons) and India (X tons) represented roughly 59% of total imports in 2021. China (X tons) took the next position in the ranking, followed by Vietnam (X tons) and the United Arab Emirates (X tons). All these countries together held approx. 28% share of total imports. Indonesia (X tons) and Saudi Arabia (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +87.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and India ($X) were the countries with the highest levels of imports in 2021, with a combined 70% share of total imports. These countries were followed by Vietnam, the United Arab Emirates, Indonesia and Saudi Arabia, which together accounted for a further 18%.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of +66.3%, saw the highest growth rate of 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

The import price in Asia stood at $X per ton in 2021, picking up by 5.9% against the previous year. In general, the import price, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2013 when the import price increased by 12% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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