Chile: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Chile

In 2021, the Chilean polyethylene glycol wax market decreased by -14.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +67.7% against 2017 indices. Polyethylene glycol wax consumption peaked at $X in 2020, and then declined in the following year.

Polyethylene Glycol Wax Exports

Exports from Chile

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by 80% to X tons, rising for the third consecutive year after three years of decline. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 238%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. Overall, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of 437%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons), Bolivia (X tons) and Argentina (X kg) were the main destinations of polyethylene glycol wax exports from Chile, with a combined 98% share 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 Peru (with a CAGR of +32.6%), while the other leaders experienced mixed trend patterns.

In value terms, Peru ($X) remains the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Chile, comprising 80% of total exports. The second position in the ranking was held by Bolivia ($X), with a 15% share of total exports. It was followed by Argentina, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value to Peru amounted to +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+7.3% per year) and Argentina (+1.1% per year).

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, reducing by -13.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 59%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Paraguay ($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 Argentina (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Polyethylene Glycol Wax Imports

Imports into Chile

In 2021, after three years of growth, there was significant decline in overseas purchases of artificial and prepared waxes of polyethylene glycol, when their volume decreased by -20.7% to X tons. In general, imports, however, posted notable growth. The pace of growth was the most pronounced in 2014 with an increase of 83%. Imports peaked at X tons in 2020, and then plummeted in the following year.

In value terms, polyethylene glycol wax imports dropped to $X in 2021. Over the period under review, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.4% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of 54%. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

The United States (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of polyethylene glycol wax imports to Chile, together comprising 68% of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +22.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Mexico ($X) constituted the largest polyethylene glycol wax suppliers to Chile, with a combined 72% share of total imports. These countries were followed by Spain, Brazil, Colombia and Italy, which together accounted for a further 25%.

Brazil, with a CAGR of +20.9%, recorded 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

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, rising by 12% against the previous year. In general, the import price, however, continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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