Ukraine: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Ukraine

After five years of growth, the Ukrainian polyethylene glycol wax market decreased by -5.9% to $X in 2021. Overall, consumption recorded strong growth. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted in the following year.

Polyethylene Glycol Wax Production in Ukraine

In value terms, polyethylene glycol wax production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +27.5% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 20%. As a result, production reached the peak level of $X, and then declined in the following year.

Polyethylene Glycol Wax Exports

Exports from Ukraine

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol decreased by -12% to X tons, falling for the fifth consecutive year after two years of growth. In general, exports showed a sharp shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 609% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports reduced dramatically to $X in 2021. Over the period under review, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2015 with an increase of 399%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for polyethylene glycol wax exports from Ukraine, with a 78% share of total exports. Moreover, polyethylene glycol wax exports to Turkey exceeded the volume sent to the second major destination, China (X tons), sixfold. The third position in this ranking was held by Finland (X tons), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at +59.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-41.7% per year) and Finland (+146.3% per year).

In value terms, the largest markets for polyethylene glycol wax exported from Ukraine were China ($X), Turkey ($X) and Finland ($X), together comprising 85% of total exports.

In terms of the main countries of destination, Finland, with a CAGR of +125.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, falling by -7.2% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyethylene glycol wax export price increased by +73.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 32%. As a result, the export price attained 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 Spain ($X per ton), while the average price for exports to Turkey ($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 Spain (+38.3%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Ukraine

Polyethylene glycol wax imports into Ukraine surged to X tons in 2021, rising by 109% against the previous year. In general, imports, however, recorded a noticeable slump. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, polyethylene glycol wax imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of polyethylene glycol wax to Ukraine, with a 54% share of total imports. Moreover, polyethylene glycol wax imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.4% per year) and Poland (+191.6% per year).

In value terms, Germany ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Ukraine, comprising 60% of total imports. The second position in the ranking was taken by the United States ($X), with a 27% share of total imports. It was followed by Poland, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.2% per year) and Poland (+216.5% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, rising by 6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 10% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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