South-Eastern Asia: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in South-Eastern Asia

The Southeast Asian polyethylene glycol wax market expanded notably to $X in 2021, increasing by 14% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +62.3% against 2012 indices. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the near future.

Polyethylene Glycol Wax Production in South-Eastern Asia

In value terms, polyethylene glycol wax production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 18%. The level of production peaked at $X in 2020, and then declined slightly in the following year.

Polyethylene Glycol Wax Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of artificial and prepared waxes of polyethylene glycol were exported in South-Eastern Asia; picking up by 13% compared with the previous year. In general, exports saw a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 56% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, polyethylene glycol wax exports surged to $X in 2021. Overall, exports showed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

Malaysia was the major exporter of artificial and prepared waxes of polyethylene glycol in South-Eastern Asia, with the volume of exports finishing at X tons, which was approx. 49% of total exports in 2021. Singapore (X tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Myanmar (15%) and Thailand (7.1%). Indonesia (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +39.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 88% share of total exports.

In terms of the main exporting countries, Thailand, with a CAGR of +42.6%, 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 export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the export price, however, continues to indicate a perceptible slump. The growth pace was the most rapid in 2017 an increase of 12% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.3%), while the other leaders experienced a decline in the export price figures.

Polyethylene Glycol Wax Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of artificial and prepared waxes of polyethylene glycol were imported in South-Eastern Asia; picking up by 29% on the year before. Over the period under review, imports showed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax imports soared to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam was the largest importing country with an import of around X tons, which accounted for 55% of total imports. Indonesia (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons), Singapore (X tons) and Thailand (X tons). All these countries together took approx. 43% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the artificial and prepared waxes of polyethylene glycol imports, with a CAGR of +20.5% from 2012 to 2021. At the same time, Malaysia (+8.6%), Singapore (+7.4%) and Indonesia (+1.3%) displayed positive paces of growth. By contrast, Thailand (-4.3%) and the Philippines (-13.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +35 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported artificial and prepared waxes of polyethylene glycol in South-Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total imports. It was followed by Singapore, with an 11% share.

In Vietnam, polyethylene glycol wax imports expanded at an average annual rate of +18.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (-2.2% per year) and Singapore (+8.4% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, picking up by 3.8% against the previous year. In general, the import price, however, saw a mild reduction. The growth pace was the most rapid in 2013 when the import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Singapore ($X per ton) and Thailand ($X per ton), while the Philippines ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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