Canada: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Canada

The Canadian polyethylene glycol wax market rose markedly to $X in 2021, increasing by 7.1% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Polyethylene glycol wax consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Polyethylene Glycol Wax Production in Canada

In value terms, polyethylene glycol wax production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 36%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from Canada

In 2021, the amount of artificial and prepared waxes of polyethylene glycol exported from Canada shrank significantly to X tons, waning by -90.9% compared with the year before. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by 2,536%. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, polyethylene glycol wax exports dropped dramatically to $X in 2021. In general, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 2,281%. The exports peaked at $X in 2020, and then declined sharply in the following year.

Exports by Country

The United States (X tons), Ireland (X tons) and Germany (X tons) were the main destinations of polyethylene glycol wax exports from Canada, together accounting for 100% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +5.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for polyethylene glycol wax exported from Canada were the United States ($X), Ireland ($X) and Germany ($X), together accounting for 100% of total exports.

The United States, with a CAGR of +6.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, rising by 195% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ireland ($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 Germany (+4.5%).

Polyethylene Glycol Wax Imports

Imports into Canada

Polyethylene glycol wax imports into Canada rose rapidly to X tons in 2021, picking up by 12% compared with the previous year. Overall, imports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2020 with an increase of 38%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports soared to $X in 2021. In general, imports, however, recorded a perceptible curtailment. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of polyethylene glycol wax to Canada, with a 92% share of total imports. Moreover, polyethylene glycol wax imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-7.6% per year) and Germany (-18.4% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Canada, comprising 92% of total imports. The second position in the ranking was taken by Mexico ($X), with a 4.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.8% per year) and Germany (-13.9% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, rising by 21% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Mexico ($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 (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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