Belgium: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Belgium

The Belgian polyethylene glycol wax market dropped to $X in 2021, waning by -15% against the previous year. In general, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.3% 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 +38.2% against 2019 indices. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Polyethylene Glycol Wax Production in Belgium

In value terms, polyethylene glycol wax production contracted modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 9.1%. Polyethylene glycol wax production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from Belgium

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by 291% to X tons, rising for the second year in a row after three years of decline. In general, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax exports soared to $X in 2021. Overall, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Germany (X tons) and France (X tons) were the main destinations of polyethylene glycol wax exports from Belgium, together accounting for 70% of total exports. The United States, Spain, Turkey, Pakistan, Saudi Arabia, the UK and Denmark lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +171.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Germany ($X) constituted the largest markets for polyethylene glycol wax exported from Belgium worldwide, with a combined 65% share of total exports. These countries were followed by Spain, the United States, Turkey, Pakistan, the UK, Saudi Arabia and Denmark, which together accounted for a further 20%.

In terms of the main countries of destination, the United States, with a CAGR of +154.5%, recorded the highest rates of growth with regard to 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

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, falling by -10.3% against the previous year. Overall, the export price continues to indicate a pronounced setback. The growth pace was the most rapid in 2017 when the average export price increased by 8.3% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to the United States ($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 Pakistan (+3.0%), while the prices for the other major destinations experienced mixed trend patterns.

Polyethylene Glycol Wax Imports

Imports into Belgium

After three years of growth, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by -28% to X tons in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 50% against the previous year. As a result, imports attained the peak of X tons, and then fell notably in the following year.

In value terms, polyethylene glycol wax imports contracted dramatically to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 105% against the previous year. As a result, imports attained the peak of $X, and then fell notably in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of polyethylene glycol wax to Belgium, accounting for a 53% share of total imports. Moreover, polyethylene glycol wax imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.3% per year) and the Netherlands (+23.8% per year).

In value terms, Germany ($X), the United States ($X) and the Netherlands ($X) appeared to be the largest polyethylene glycol wax suppliers to Belgium, together accounting for 90% of total imports. South Korea and China lagged somewhat behind, together comprising a further 7.2%.

In terms of the main suppliers, South Korea, with a CAGR of +60.1%, recorded 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 average polyethylene glycol wax import price stood at $X per ton in 2021, with a decrease of -4.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 36%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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