Asia-Pacific: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Asia-Pacific

In 2021, the Asia-Pacific polyethylene glycol wax market increased by 7.1% to $X, rising for the seventh consecutive year after two years of decline. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 8.2% against the previous year. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Polyethylene Glycol Wax Production in Asia-Pacific

In value terms, polyethylene glycol wax production declined slightly to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 +40.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted slightly in the following year.

Polyethylene Glycol Wax Exports

Exports in Asia-Pacific

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol decreased by -6.9% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2017 when exports increased by 189%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. Overall, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 127%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

In 2021, South Korea (X tons) was the largest exporter of artificial and prepared waxes of polyethylene glycol, making up 76% of total exports. It was distantly followed by China (X tons), mixing up a 12% share of total exports. India (X tons) and Malaysia (X tons) held a little share of total exports.

Exports from South Korea increased at an average annual rate of +6.7% from 2012 to 2021. 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-Pacific, 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 -12.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual growth rate of value in South Korea stood at +5.8%. 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-Pacific amounted to $X per ton, surging by 27% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; 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-Pacific

In 2021, the amount of artificial and prepared waxes of polyethylene glycol imported in Asia-Pacific surged to X tons, increasing by 50% compared with 2020 figures. In general, imports enjoyed a strong 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. Overall, imports showed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) represented the major importer of artificial and prepared waxes of polyethylene glycol, achieving 45% of total imports. China (X tons) ranks second in terms of the total imports with a 22% share, followed by Vietnam (14%). Indonesia (X tons), Malaysia (X tons), Singapore (X tons) and Pakistan (X tons) held a relatively small share of total imports.

India was also the fastest-growing in terms of the artificial and prepared waxes of polyethylene glycol imports, with a CAGR of +55.4% from 2012 to 2021. At the same time, Vietnam (+20.5%), Pakistan (+17.1%), Malaysia (+8.6%), Singapore (+7.4%) and Indonesia (+1.3%) displayed positive paces of growth. China experienced a relatively flat trend pattern. India (+43 p.p.) and Vietnam (+7.7 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and China saw its share reduced by -5.1% and -28.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 79% share of total imports.

India, with a CAGR of +33.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, dropping by -1.8% against the previous year. In general, the import price saw a slight decrease. The pace of growth appeared the most rapid in 2013 an increase of 13%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while India ($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 mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :