Norway: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Norway

The Norwegian polyethylene glycol and polyether market surged to $X in 2021, picking up by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +70.1% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Norway

In 2021, overseas shipments of polyethylene glycols and polyethers in primary forms were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 294%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, polyethylene glycol and polyether exports soared to $X in 2021. Over the period under review, exports saw a temperate expansion. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), China (X tons) and Sweden (X tons) were the main destinations of polyethylene glycol and polyether exports from Norway, together comprising 77% of total exports. India, Vietnam, Germany and Belgium lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +186.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Norway, comprising 60% of total exports. The second position in the ranking was held by Sweden ($X), with a 6.7% share of total exports. It was followed by the UK, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +31.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-1.6% per year) and the UK (+37.5% per year).

Export Prices by Country

In 2021, the average polyethylene glycol and polyether export price amounted to $X per ton, with a decrease of -1.7% against the previous year. Overall, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by 176%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 China ($X per ton), while the average price for exports to the UK ($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 China (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Norway

In 2021, purchases abroad of polyethylene glycols and polyethers in primary forms increased by 11% to X tons, rising for the sixth year in a row after two years of decline. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 13% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, polyethylene glycol and polyether imports surged to $X in 2021. In general, total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +22.2% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest polyethylene glycol and polyether supplier to Norway, accounting for a 37% share of total imports. Moreover, polyethylene glycol and polyether imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.0% per year) and Italy (+30.1% per year).

In value terms, Germany ($X) constituted the largest supplier of polyethylene glycols and polyethers in primary forms to Norway, comprising 35% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total imports. It was followed by Denmark, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.3% per year) and Denmark (+11.3% per year).

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for China ($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 (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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