Indonesia: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Indonesia

After two years of decline, the Indonesian polyethylene glycol wax market increased by 4.2% to $X in 2021. Over the period under review, consumption, however, recorded a slight downturn. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Polyethylene Glycol Wax Exports

Exports from Indonesia

For the third consecutive year, Indonesia recorded growth in overseas shipments of artificial and prepared waxes of polyethylene glycol, which increased by 145% to X tons in 2021. Overall, exports enjoyed a mild increase. The most prominent rate of growth was recorded in 2014 when exports increased by 478%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, polyethylene glycol wax exports surged to $X in 2021. In general, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 427%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Pakistan (X tons), Bangladesh (X tons) and Malaysia (X tons) were the main destinations of polyethylene glycol wax exports from Indonesia, together accounting for 83% 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 Malaysia (with a CAGR of +62.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol wax exported from Indonesia were Malaysia ($X), Pakistan ($X) and Bangladesh ($X), with a combined 81% share of total exports.

Among the main countries of destination, Malaysia, with a CAGR of +64.2%, recorded 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

The average polyethylene glycol wax export price stood at $X per ton in 2021, surging by 11% against the previous year. In general, the export price, however, continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 17%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($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 (+33.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Indonesia

In 2021, approx. X tons of artificial and prepared waxes of polyethylene glycol were imported into Indonesia; with an increase of 5.2% on the previous year. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 25%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, polyethylene glycol wax imports expanded significantly to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 20%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of polyethylene glycol wax to Indonesia, with a 66% share of total imports. Moreover, polyethylene glycol wax imports from South Korea exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. The third position in this ranking was taken by China (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.8% per year) and China (-10.1% per year).

In value terms, South Korea ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Indonesia, comprising 53% of total imports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total imports. It was followed by Japan, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from South Korea amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.9% per year) and Japan (-9.5% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, standing approx. at the previous year. In general, the import price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2016 when the average import price increased by 4.3%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Thailand ($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 (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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