Central Asia: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Central Asia

The Central Asian polyethylene glycol wax market rose rapidly to $X in 2021, increasing by 8.7% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 -6.6% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Polyethylene Glycol Wax Production in Central Asia

In value terms, polyethylene glycol wax production expanded remarkably to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 -7.7% against 2019 indices. The growth pace was the most rapid in 2014 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports in Central Asia

For the fourth year in a row, Central Asia recorded growth in overseas shipments of artificial and prepared waxes of polyethylene glycol, which increased by 195% to X tons in 2020. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,352% against the previous year. The volume of export peaked in 2020 and is expected to retain growth in the immediate term.

In value terms, polyethylene glycol wax exports surged to $X in 2020. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 3,801%. The level of export peaked in 2020 and is expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of artificial and prepared waxes of polyethylene glycol, namely Uzbekistan, represented more than two-thirds of total export.

Uzbekistan was also the fastest-growing in terms of the artificial and prepared waxes of polyethylene glycol exports, with a CAGR of +200.0% from 2017 to 2020. Uzbekistan (+99 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) also remains the largest polyethylene glycol wax supplier in Central Asia.

In Uzbekistan, polyethylene glycol wax exports increased at an average annual rate of +87.3% over the period from 2017-2020.

Export Prices by Country

In 2020, the export price in Central Asia amounted to $X per ton, dropping by -37.6% against the previous year. In general, the export price recorded a significant curtailment. The growth pace was the most rapid in 2019 an increase of 169%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2020, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Uzbekistan.

From 2017 to 2020, the rate of growth in terms of prices for Uzbekistan amounted to -37.6% per year.

Polyethylene Glycol Wax Imports

Imports in Central Asia

In 2021, overseas purchases of artificial and prepared waxes of polyethylene glycol were finally on the rise to reach X tons after two years of decline. Over the period under review, imports showed a significant increase. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports surged to $X in 2021. Overall, imports enjoyed significant growth. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Uzbekistan (X tons) and Tajikistan (X tons) represented roughly 82% of total imports in 2021. It was distantly followed by Kazakhstan (X tons), committing a 15% share of total imports. Turkmenistan (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uzbekistan (with a CAGR of +110.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Tajikistan ($X) and Kazakhstan ($X) were the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

Uzbekistan, with a CAGR of +96.8%, saw the highest growth rate of the value of imports, in terms of 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

The import price in Central Asia stood at $X per ton in 2021, with a decrease of -1.8% against the previous year. Over the period under review, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 45%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Turkmenistan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tajikistan (+3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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