South Africa: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in South Africa

The South African polyethylene glycol wax market was estimated at $X in 2021, standing approx. at the previous year. In general, consumption posted a buoyant expansion. Polyethylene glycol wax consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Polyethylene Glycol Wax Production in South Africa

In value terms, polyethylene glycol wax production rose to $X in 2021 estimated in export price. Over the period under review, production posted strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Polyethylene Glycol Wax Exports

Exports from South Africa

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by 68% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, saw a deep setback. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for polyethylene glycol wax exports from South Africa, with a 36% share of total exports. Moreover, polyethylene glycol wax exports to the United Arab Emirates exceeded the volume sent to the second major destination, Ghana (X tons), twofold. Cote d'Ivoire (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+35.9% per year) and Cote d'Ivoire (+58.3% per year).

In value terms, Ghana ($X), Cote d'Ivoire ($X) and the United Arab Emirates ($X) constituted the largest markets for polyethylene glycol wax exported from South Africa worldwide, together accounting for 70% of total exports. Mali, Tanzania, Zambia and Botswana lagged somewhat behind, together accounting for a further 23%.

In terms of the main countries of destination, Mali, with a CAGR of +91.4%, recorded 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, which is down by -11.6% against the previous year. Over the period under review, the export price, however, saw resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 202%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Mali ($X per ton), while the average price for exports to Botswana ($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 Botswana (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into South Africa

Polyethylene glycol wax imports into South Africa declined markedly to X tons in 2021, with a decrease of -17.4% compared with 2020 figures. Over the period under review, imports showed a abrupt contraction. The growth pace was the most rapid in 2017 when imports increased by 38%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, polyethylene glycol wax imports shrank to $X in 2021. Overall, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 when imports increased by 41% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of polyethylene glycol wax to South Africa, accounting for a 71% share of total imports. Moreover, polyethylene glycol wax imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. The third position in this ranking was held by the United States (X tons), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.8% per year) and the United States (-3.0% per year).

In value terms, Germany ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to South Africa, comprising 70% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Belgium, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.3% per year) and Belgium (+1.4% per year).

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, growing by 5.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 13%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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