Russian Federation: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in the Russian Federation

After two years of decline, the Russian polyethylene glycol wax market increased by 0.1% to $X in 2021. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -34.6% against 2018 indices. 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 the Russian Federation

In value terms, polyethylene glycol wax production skyrocketed to $X in 2021 estimated in export price. In general, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 31% against the previous year. Polyethylene glycol wax production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from the Russian Federation

For the fourth consecutive year, Russia recorded growth in shipments abroad of artificial and prepared waxes of polyethylene glycol, which increased by 41% to X tons in 2021. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 524% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 536% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Turkey (X tons), the United States (X tons) and Spain (X tons) were the main destinations of polyethylene glycol wax exports from Russia, with a combined 46% share of total exports. These countries were followed by Germany, Italy, the United Arab Emirates and the Netherlands, which together accounted for a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +511.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol wax exported from Russia were the United States ($X), Turkey ($X) and Spain ($X), with a combined 49% share of total exports. Germany, Italy, the United Arab Emirates and the Netherlands lagged somewhat behind, together accounting for a further 11%.

In terms of the main countries of destination, Germany, with a CAGR of +526.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, picking up by 27% against the previous year. In general, the export price, however, saw a abrupt contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Spain ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Turkey ($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 Germany (+2.5%), while the prices for the other major destinations experienced a decline.

Polyethylene Glycol Wax Imports

Imports into the Russian Federation

In 2021, polyethylene glycol wax imports into Russia shrank to X tons, with a decrease of -11.1% against the year before. In general, imports, however, continue to indicate temperate growth. The pace of growth appeared the most rapid in 2018 when imports increased by 206%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, polyethylene glycol wax imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2018 with an increase of 133% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and Belgium (X tons) were the main suppliers of polyethylene glycol wax imports to Russia, with a combined 88% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +123.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Russia, comprising 70% of total imports. The second position in the ranking was held by Belgium ($X), with a 9.2% share of total imports. It was followed by the United States, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.5% per year) and the United States (+11.9% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, rising by 36% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. 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 the United States ($X per ton), while the price for Belarus ($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 (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :