MENA: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in MENA

The MENA's polyethylene glycol wax market surged to $X in 2021, rising by 33% against the previous year. Overall, consumption enjoyed a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Production in MENA

In value terms, polyethylene glycol wax production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, recorded a mild decrease. The pace of growth was the most pronounced in 2013 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports in MENA

In 2021, shipments abroad of artificial and prepared waxes of polyethylene glycol decreased by -48.2% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports showed a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of 113% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports shrank dramatically to $X in 2021. In general, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 when exports increased by 128% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons) was the key exporter of artificial and prepared waxes of polyethylene glycol, creating 53% of total exports. It was distantly followed by the United Arab Emirates (X tons), Iran (X tons) and Turkey (X tons), together mixing up a 42% share of total exports. Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polyethylene glycol wax exports from Saudi Arabia stood at -8.0%. At the same time, Lebanon (+40.5%), the United Arab Emirates (+15.6%), Iran (+11.9%) and Turkey (+10.7%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in MENA, with a CAGR of +40.5% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates, Iran, Turkey and Lebanon increased by +15, +9.8, +7.1 and +2.4 percentage points, respectively.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2021, with a combined 82% share of total exports. These countries were followed by Iran and Lebanon, which together accounted for a further 10%.

In terms of the main exporting countries, Lebanon, with a CAGR of +30.9%, saw the highest rates of growth with regard to 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 export price in MENA amounted to $X per ton, falling by -11.6% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 35%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.6%), while the other leaders experienced a decline in the export price figures.

Polyethylene Glycol Wax Imports

Imports in MENA

In 2021, the amount of artificial and prepared waxes of polyethylene glycol imported in MENA soared to X tons, increasing by 29% on the year before. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 70% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, polyethylene glycol wax imports soared to $X in 2021. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 53% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Turkey represented the major importer of artificial and prepared waxes of polyethylene glycol in MENA, with the volume of imports recording X tons, which was near 77% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together generating an 18% share of total imports. Egypt (X tons) took a little share of total imports.

Imports into Turkey increased at an average annual rate of +37.5% from 2012 to 2021. At the same time, the United Arab Emirates (+87.0%), Saudi Arabia (+16.7%) and Egypt (+2.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +87.0% from 2012-2021. Turkey (+30 p.p.) and the United Arab Emirates (+13 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and Egypt saw its share reduced by -8.3% and -12.4% from 2012 to 2021, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported artificial and prepared waxes of polyethylene glycol in MENA, comprising 76% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.5% share of total imports. It was followed by Saudi Arabia, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +29.9%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+66.3% per year) and Saudi Arabia (+11.2% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, rising by 18% against the previous year. Over the period under review, the import price, however, showed a abrupt contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform