Belarus: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Belarus

In 2021, the Belarusian polyethylene glycol wax market decreased by -8% to $X, falling for the second consecutive year after five years of growth. Overall, the total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.5% against 2019 indices. Polyethylene glycol wax consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Polyethylene Glycol Wax Production in Belarus

In value terms, polyethylene glycol wax production declined slightly to $X in 2021 estimated in export price. In general, the total production indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.3% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 60% against the previous year. Polyethylene glycol wax production peaked at $X in 2020, and then contracted in the following year.

Polyethylene Glycol Wax Exports

Exports from Belarus

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by 14% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 340% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports dropped notably to $X in 2021. Overall, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 312%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for polyethylene glycol wax exports from Belarus, with a 70% share of total exports. Moreover, polyethylene glycol wax exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Russia amounted to -18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+23.5% per year) and the Czech Republic (0.0% per year).

In value terms, Russia ($X) remains the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Belarus, comprising 82% of total exports. The second position in the ranking was held by Ukraine ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to -18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+12.9% per year) and the Czech Republic (0.0% per year).

Export Prices by Country

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, falling by -25.8% against the previous year. Overall, the export price recorded a slight shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 19% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+0.0%).

Polyethylene Glycol Wax Imports

Imports into Belarus

In 2021, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by -23.9% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 254%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports dropped to $X in 2021. In general, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 192% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of polyethylene glycol wax imports to Belarus, together comprising 57% of total imports. These countries were followed by Estonia, the Netherlands, Poland and Russia, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +39.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene glycol wax suppliers to Belarus were Italy ($X), Germany ($X) and Estonia ($X), with a combined 51% share of total imports.

Italy, with a CAGR of +24.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, with an increase of 13% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 20%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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