Mexico: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Mexico

The Mexican polyethylene glycol wax market rose notably to $X in 2021, surging by 11% against the previous year. Over the period under review, consumption saw a remarkable increase. Polyethylene glycol wax consumption peaked in 2021 and is expected to retain growth in years to come.

Polyethylene Glycol Wax Production in Mexico

In value terms, polyethylene glycol wax production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 15% against the previous year. Polyethylene glycol wax production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Polyethylene Glycol Wax Exports

Exports from Mexico

In 2021, polyethylene glycol wax exports from Mexico dropped rapidly to X tons, with a decrease of -36% compared with the year before. Overall, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2019 when exports increased by 37%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports fell significantly to $X in 2021. In general, exports faced a abrupt decrease. The pace of growth was the most pronounced in 2014 when exports increased by 15%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for polyethylene glycol wax exports from Mexico, accounting for a 78% share of total exports. Moreover, polyethylene glycol wax exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), fivefold. Colombia (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-22.8% per year) and Colombia (-15.2% per year).

In value terms, the United States ($X) remains the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Mexico, comprising 76% of total exports. The second position in the ranking was held by Brazil ($X), with a 16% share of total exports. It was followed by Colombia, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -17.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-20.1% per year) and Colombia (-13.3% per year).

Export Prices by Country

In 2021, the average polyethylene glycol wax export price amounted to $X per ton, with a decrease of -24.6% against the previous year. In general, export price indicated a pronounced expansion 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 -32.6% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of 26%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Colombia ($X per ton) and Brazil ($X per ton), while the average price for exports to Guatemala ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Mexico

In 2021, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by -35.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 48% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, polyethylene glycol wax imports dropped markedly to $X in 2021. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 54%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest polyethylene glycol wax supplier to Mexico, with a 88% share of total imports. Moreover, polyethylene glycol wax imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-23.2% per year) and the United Arab Emirates (+196.6% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Mexico, comprising 85% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to -11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-22.5% per year) and the United Arab Emirates (+111.9% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, picking up by 3.4% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2014 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+65.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :