Middle East: Polyethylene Glycol Wax Market 2025

Polyethylene Glycol Wax Market Size in the Middle East

The Middle Eastern polyethylene glycol wax market skyrocketed to $X in 2021, jumping by 35% against the previous year. Overall, consumption continues to indicate strong growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Production in the Middle East

In value terms, polyethylene glycol wax production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, saw a mild setback. The pace of growth was the most pronounced in 2013 with an increase of 15%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Polyethylene Glycol Wax Exports

Exports in the Middle East

In 2021, shipments abroad of artificial and prepared waxes of polyethylene glycol decreased by -48.3% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports showed a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of 121%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports reduced dramatically to $X in 2021. In general, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when exports increased by 134%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the major exporting country with an export of about X tons, which accounted for 53% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons) and Turkey (X tons). All these countries together took near 42% share of total exports. Lebanon (X tons) took a relatively small share of total exports.

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 the Middle East, with a CAGR of +40.5% from 2012-2021. While the share of the United Arab Emirates (+15 p.p.), Iran (+9.7 p.p.), Turkey (+7 p.p.) and Lebanon (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-35 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 83% of total exports. Iran and Lebanon lagged somewhat behind, together comprising a further 10%.

Lebanon, with a CAGR of +30.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, reducing by -11.9% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 36%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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 the Middle East

In 2021, approx. X tons of artificial and prepared waxes of polyethylene glycol were imported in the Middle East; jumping by 30% on the previous year. In general, imports posted a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 93% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, polyethylene glycol wax imports skyrocketed to $X in 2021. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 67% 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

In 2021, Turkey (X tons) represented the key importer of artificial and prepared waxes of polyethylene glycol, making up 80% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 14% share, followed by Saudi Arabia (5%).

From 2012 to 2021, average annual rates of growth with regard to polyethylene glycol wax imports into Turkey stood at +37.5%. At the same time, the United Arab Emirates (+87.0%) and Saudi Arabia (+16.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +87.0% from 2012-2021. From 2012 to 2021, the share of Turkey and the United Arab Emirates increased by +13 and +13 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported artificial and prepared waxes of polyethylene glycol in the Middle East, comprising 80% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 10% share of total imports.

In Turkey, polyethylene glycol wax imports increased at an average annual rate of +29.9% over the period from 2012-2021. 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

The import price in the Middle East stood at $X per ton in 2021, growing by 20% against the previous year. Over the period under review, the import price, however, showed a deep setback. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 Saudi Arabia ($X per ton), while the United Arab Emirates ($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

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