U.S.: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in the U.S.

The U.S. polyethylene glycol wax market dropped to $X in 2021, waning by -10.1% against the previous year. Overall, consumption, however, recorded prominent growth. Polyethylene glycol wax consumption peaked at $X in 2020, and then shrank in the following year.

Polyethylene Glycol Wax Production in the U.S.

In value terms, polyethylene glycol wax production declined to $X in 2021. In general, production, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 48%. Polyethylene glycol wax production peaked at $X in 2020, and then dropped in the following year.

Polyethylene Glycol Wax Exports

Exports from the U.S.

In 2021, polyethylene glycol wax exports from the United States expanded significantly to X tons, increasing by 11% compared with 2020 figures. In general, exports, however, continue to indicate a abrupt shrinkage. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, polyethylene glycol wax exports rose remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 18%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for polyethylene glycol wax exports from the United States, with a 28% share of total exports. Moreover, polyethylene glycol wax exports to Canada exceeded the volume sent to the second major destination, Belgium (X tons), twofold. The third position in this ranking was taken by Mexico (X tons), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-26.2% per year) and Mexico (-4.9% per year).

In value terms, the largest markets for polyethylene glycol wax exported from the United States were Canada ($X), Chile ($X) and Mexico ($X), together accounting for 48% of total exports.

Chile, with a CAGR of +30.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, waning by -1.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2020 an increase of 15% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Belgium ($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 Chile (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into the U.S.

In 2021, overseas purchases of artificial and prepared waxes of polyethylene glycol increased by 14% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 34% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, polyethylene glycol wax imports rose rapidly to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.6% against 2017 indices. The pace of growth was the most pronounced in 2018 when imports increased by 31% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Russia (X tons) constituted the largest polyethylene glycol wax supplier to the United States, accounting for a 45% share of total imports. Moreover, polyethylene glycol wax imports from Russia exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +138.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-13.5% per year) and Germany (-3.0% per year).

In value terms, Russia ($X), Japan ($X) and Germany ($X) were the largest polyethylene glycol wax suppliers to the United States, with a combined 66% share of total imports.

Among the main suppliers, Russia, with a CAGR of +143.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, declining by -3.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Russia ($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 (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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