India: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in India

In 2021, after two years of decline, there was significant growth in the Indian polyethylene glycol wax market, when its value increased by 44% to $X. In general, consumption recorded mild growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Production in India

In value terms, polyethylene glycol wax production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by 32%. As a result, production attained the peak level of $X, and then declined in the following year.

Polyethylene Glycol Wax Exports

Exports from India

In 2021, exports of artificial and prepared waxes of polyethylene glycol from India dropped slightly to X tons, flattening at the previous year. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 504% against the previous year. The exports peaked at X tons in 2020, and then shrank in the following year.

In value terms, polyethylene glycol wax exports expanded sharply to $X in 2021. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 450% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), South Korea (X tons) and Argentina (X tons) were the main destinations of polyethylene glycol wax exports from India, together comprising 23% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +121.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol wax exported from India were South Korea ($X), the United States ($X) and Italy ($X), with a combined 22% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +103.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, with an increase of 6.7% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. 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 +64.8% against 2017 indices. The most prominent rate of growth was recorded in 2014 an increase of 32%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Africa ($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 the United States (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into India

In 2021, the amount of artificial and prepared waxes of polyethylene glycol imported into India surged to X tons, with an increase of 133% on the year before. Overall, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 206% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, polyethylene glycol wax imports soared to $X in 2021. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 189% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, South Korea (X tons) was the main supplier of polyethylene glycol wax to India, with a 94% share of total imports. It was followed by Germany (X tons), with a 0.5% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled +83.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.4% per year) and Iran (-14.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to India, comprising 90% of total imports. The second position in the ranking was taken by Germany ($X), with a 1.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled +66.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.1% per year) and Iran (-23.1% per year).

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, growing by 6.9% against the previous year. Over the period under review, the import price, however, faced a deep reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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