Ecuador: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Ecuador

The Ecuadorian polyethylene glycol wax market expanded markedly to $X in 2021, with an increase of 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Polyethylene Glycol Wax Exports

Exports from Ecuador

For the sixth year in a row, Ecuador recorded decline in shipments abroad of artificial and prepared waxes of polyethylene glycol, which decreased by -13.6% to X kg in 2021. Over the period under review, exports showed a dramatic decline. The growth pace was the most rapid in 2015 when exports increased by 419% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, polyethylene glycol wax exports shrank remarkably to $X in 2021. In general, exports recorded a sharp setback. The growth pace was the most rapid in 2015 with an increase of 369% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Peru (X kg) was the main destination for polyethylene glycol wax exports from Ecuador, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru amounted to -28.2%.

In value terms, Peru ($X) also remains the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Ecuador.

From 2012 to 2021, the average annual growth rate of value to Peru totaled -26.4%.

Export Prices by Country

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, with a decrease of -5.5% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.5% 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 decreased by -35.3% against 2014 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to +2.5% per year.

Polyethylene Glycol Wax Imports

Imports into Ecuador

In 2021, polyethylene glycol wax imports into Ecuador rose notably to X tons, growing by 13% against 2020 figures. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 200%. 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 rose remarkably to $X in 2021. In general, imports, however, saw a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 141%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of polyethylene glycol wax to Ecuador, with a 55% share of total imports. Moreover, polyethylene glycol wax imports from Mexico exceeded the figures recorded by the second-largest supplier, France (X tons), tenfold. Germany (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+14.5% per year) and Germany (+4.4% per year).

In value terms, the largest polyethylene glycol wax suppliers to Ecuador were Mexico ($X), Germany ($X) and Italy ($X), together comprising 53% of total imports. The United States, France, India, China, Colombia, the UK and Belgium lagged somewhat behind, together accounting for a further 22%.

China, with a CAGR of +32.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, approximately equating the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.6% 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 import price decreased by -19.7% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 62% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a 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 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 India (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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