Portugal: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Portugal

In 2021, the Portuguese polyethylene glycol wax market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Polyethylene glycol wax consumption peaked in 2021 and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Production in Portugal

In value terms, polyethylene glycol wax production amounted to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt descent. The growth pace was the most rapid in 2015 when the production volume increased by 8.3%. Polyethylene glycol wax production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from Portugal

In 2021, approx. X kg of artificial and prepared waxes of polyethylene glycol were exported from Portugal; growing by 196% against 2020. Overall, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 577% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. In general, exports, however, faced a deep reduction. The growth pace was the most rapid in 2015 when exports increased by 520%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Angola (X kg) was the main destination for polyethylene glycol wax exports from Portugal, with a 95% share of total exports. Moreover, polyethylene glycol wax exports to Angola exceeded the volume sent to the second major destination, Cabo Verde (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Angola totaled +19.0%.

In value terms, Angola ($X) emerged as the key foreign market for artificial and prepared waxes of polyethylene glycol exports from Portugal, comprising 95% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Angola amounted to +17.9%.

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, with an increase of 69% against the previous year. Overall, the export price showed notable growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 163%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Cabo Verde amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Portugal

In 2021, the amount of artificial and prepared waxes of polyethylene glycol imported into Portugal skyrocketed to X tons, increasing by 16% compared with the year before. In general, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports soared to $X in 2021. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2013 when imports increased by 97% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of polyethylene glycol wax to Portugal, with a 68% share of total imports. Moreover, polyethylene glycol wax imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was taken by South Korea (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.6% per year) and South Korea (-5.7% per year).

In value terms, Spain ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Portugal, comprising 75% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by South Korea, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.9% per year) and South Korea (+2.9% per year).

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, growing by 6.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 19%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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