Norway: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Norway

In 2021, after two years of decline, there was growth in the Norwegian polyethylene glycol wax market, when its value increased by 3% to $X. The market value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Polyethylene glycol wax consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Polyethylene Glycol Wax Production in Norway

In value terms, polyethylene glycol wax production rose slightly to $X in 2021 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.3% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 64%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Polyethylene Glycol Wax Exports

Exports from Norway

In 2021, exports of artificial and prepared waxes of polyethylene glycol from Norway surged to X tons, picking up by 19,295% on 2020 figures. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for polyethylene glycol wax exports from Norway, with a 86% share of total exports. Moreover, polyethylene glycol wax exports to the Netherlands exceeded the volume sent to the second major destination, Italy (X kg), ninefold. The third position in this ranking was taken by Poland (X kg), with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Poland (0.0% per year).

It was followed by Poland, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Poland (0.0% per year).

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, dropping by -43.2% against the previous year. Over the period under review, the export price, however, continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2018 an increase of 20% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($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 Czech Republic (+63.0%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Norway

In 2021, the amount of artificial and prepared waxes of polyethylene glycol imported into Norway surged to X tons, jumping by 66% compared with the previous year's figure. Overall, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2013 with an increase of 87% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, polyethylene glycol wax imports surged to $X in 2021. In general, imports, however, continue to indicate a mild decline. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of polyethylene glycol wax to Norway, with a 45% share of total imports. Moreover, polyethylene glycol wax imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Sweden (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.7% per year) and Sweden (-0.0% per year).

In value terms, Belgium ($X), Germany ($X) and China ($X) constituted the largest polyethylene glycol wax suppliers to Norway, with a combined 71% share of total imports.

China, with a CAGR of +92.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, picking up by 34% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.5% 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 import price increased by +97.7% against 2014 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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