China: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in China

In 2022, the Chinese ethylene glycol market decreased by -15.3% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption recorded a noticeable contraction. Ethylene glycol consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Ethylene Glycol Exports

Exports from China

After three years of growth, overseas shipments of ethylene glycol (ethanediol) decreased by -73.4% to X tons in 2022. Over the period under review, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2020 when exports increased by 333%. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, ethylene glycol exports declined dramatically to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 149% against the previous year. As a result, the exports reached the peak of $X, and then reduced notably in the following year.

Exports by Country

Bangladesh (X tons), the Netherlands (X tons) and Belgium (X tons) were the main destinations of ethylene glycol exports from China, together comprising 47% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +112.7%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X) emerged as the key foreign market for ethylene glycol (ethanediol) exports from China, comprising 36% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total exports. It was followed by Belgium, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value to Bangladesh totaled +97.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+79.3% per year) and Belgium (+63.9% per year).

Export Prices by Country

In 2022, the average ethylene glycol export price amounted to $X per ton, picking up by 36% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-3.5%), while the prices for the other major destinations experienced a decline.

Ethylene Glycol Imports

Imports into China

In 2022, overseas purchases of ethylene glycol (ethanediol) decreased by -10.8% to X tons, falling for the second consecutive year after four years of growth. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 33%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, ethylene glycol imports dropped dramatically to $X in 2022. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 52%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of ethylene glycol to China, with a 56% share of total imports. Moreover, ethylene glycol imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+6.3% per year) and the United States (+10.8% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of ethylene glycol (ethanediol) to China, comprising 56% of total imports. The second position in the ranking was held by Canada ($X), with a 14% share of total imports. It was followed by the United States, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia totaled -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+0.5% per year) and the United States (+4.6% per year).

Import Prices by Country

In 2022, the average ethylene glycol import price amounted to $X per ton, shrinking by -10.4% against the previous year. Overall, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by 44% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Singapore ($X per ton) and South Korea ($X per ton), while the price for Canada ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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