China: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in China

After four years of growth, the Chinese polyethylene glycol wax market decreased by -7.9% to $X in 2021. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.0% 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 +24.8% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Polyethylene Glycol Wax Production in China

In value terms, polyethylene glycol wax production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +32.4% against 2016 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Polyethylene Glycol Wax Exports

Exports from China

For the seventh consecutive year, China recorded growth in overseas shipments of artificial and prepared waxes of polyethylene glycol, which increased by 49% to X tons in 2021. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 170% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, polyethylene glycol wax exports soared to $X in 2021. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 192%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for polyethylene glycol wax exports from China, with a 38% share of total exports. Moreover, polyethylene glycol wax exports to Germany exceeded the volume sent to the second major destination, Ireland (X tons), twofold. The United States (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +62.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+120.9% per year) and the United States (+43.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for artificial and prepared waxes of polyethylene glycol exports from China, comprising 36% of total exports. The second position in the ranking was held by Ireland ($X), with a 16% share of total exports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +65.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+158.8% per year) and the United States (+58.5% per year).

Export Prices by Country

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, surging by 48% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyethylene glycol wax export price increased by +89.1% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Vietnam ($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 Ireland (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into China

In 2021, imports of artificial and prepared waxes of polyethylene glycol into China amounted to X tons, increasing by 2.1% compared with the previous year's figure. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 26%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, polyethylene glycol wax imports surged to $X in 2021. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.3% against 2013 indices. The pace of growth appeared the most rapid in 2019 with an increase of 20% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

South Korea (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of polyethylene glycol wax imports to China, with a combined 80% share of total imports. Malaysia, Japan and Singapore lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +167.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to China, comprising 47% of total imports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total imports. It was followed by Japan, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-6.9% per year) and Japan (+11.2% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, with an increase of 15% against the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :