Japan: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Japan

In 2021, after two years of growth, there was decline in the Japanese polyethylene glycol wax market, when its value decreased by -1% to $X. In general, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 +83.2% against 2014 indices. Polyethylene glycol wax consumption peaked at $X in 2020, and then shrank in the following year.

Polyethylene Glycol Wax Production in Japan

In value terms, polyethylene glycol wax production fell slightly to $X in 2021 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.5% against 2014 indices. The most prominent rate of growth was recorded in 2019 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then shrank slightly in the following year.

Polyethylene Glycol Wax Exports

Exports from Japan

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol decreased by -8.1% to X tons, falling for the third consecutive year after two years of growth. In general, exports saw a perceptible setback. The most prominent rate of growth was recorded in 2018 when exports increased by 34%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports contracted to $X in 2021. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main destinations of polyethylene glycol wax exports from Japan, together accounting for 69% 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 Taiwan (Chinese) (with a CAGR of +30.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol wax exported from Japan were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for 64% of total exports.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +29.2%, 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

The average polyethylene glycol wax export price stood at $X per ton in 2021, increasing by 2.9% against the previous year. Overall, the export price, however, saw a perceptible slump. The growth pace was the most rapid in 2019 an increase of 28% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Vietnam ($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 the United Arab Emirates (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Japan

In 2021, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by -3.1% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% 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 +102.1% against 2018 indices. The pace of growth was the most pronounced in 2019 when imports increased by 83% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, polyethylene glycol wax imports surged to $X in 2021. Overall, imports, however, continue to indicate a notable increase. The pace of growth was the most pronounced in 2014 when imports increased by 144%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of polyethylene glycol wax imports to Japan, together comprising 76% of total imports. The United States, India and Germany lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +76.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) appeared to be the largest polyethylene glycol wax suppliers to Japan, with a combined 83% share of total imports. Taiwan (Chinese), India and Germany lagged somewhat behind, together comprising a further 16%.

Among the main suppliers, India, with a CAGR of +88.1%, recorded the highest growth rate of the value of imports, 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, surging by 21% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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