Venezuela: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Venezuela

In 2021, the Venezuelan diethylene glycol and digol market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Diethylene glycol and digol consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of X-Oxydiethanol (Diethylene Glycol, Digol) in Venezuela

In value terms, diethylene glycol and digol production stood at $X in 2021 estimated in export price. Overall, production, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the production volume increased by 14%. Diethylene glycol and digol production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports from Venezuela

For the fifth year in a row, Venezuela recorded decline in shipments abroad of X-oxydiethanol (diethylene glycol, digol), which decreased by -3.3% to X tons in 2021. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 27% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, diethylene glycol and digol exports declined to $X in 2021. Overall, exports showed a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 38%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for diethylene glycol and digol exports from Venezuela, accounting for a 59% share of total exports. Moreover, diethylene glycol and digol exports to Brazil exceeded the volume sent to the second major destination, Chile (X tons), threefold. The third position in this ranking was taken by Colombia (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Brazil stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+32.4% per year) and Colombia (-9.7% per year).

In value terms, Brazil ($X) remains the key foreign market for X-oxydiethanol (diethylene glycol, digol) exports from Venezuela, comprising 47% of total exports. The second position in the ranking was taken by Chile ($X), with a 21% share of total exports. It was followed by Colombia, with a 19% share.

From 2012 to 2021, the average annual growth rate of value to Brazil stood at -11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+25.8% per year) and Colombia (-10.2% per year).

Export Prices by Country

In 2021, the average diethylene glycol and digol export price amounted to $X per ton, dropping by -1.9% against the previous year. Overall, the export price continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 an increase of 23%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guatemala ($X per ton), while the average price for exports to Brazil ($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 Guatemala (+14.5%), while the prices for the other major destinations experienced a decline.

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports into Venezuela

In 2021, the amount of X-oxydiethanol (diethylene glycol, digol) imported into Venezuela soared to X tons, rising by 445% on 2020. Overall, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, diethylene glycol and digol imports surged to $X in 2021. In general, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) was the main supplier of diethylene glycol and digol to Venezuela, with a 93% share of total imports. Moreover, diethylene glycol and digol imports from the United States exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +81.7%.

In value terms, the United States ($X) constituted the largest supplier of X-oxydiethanol (diethylene glycol, digol) to Venezuela, comprising 99% of total imports. The second position in the ranking was held by Thailand ($X), with a 1.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +89.2%.

Import Prices by Country

The average diethylene glycol and digol import price stood at $X per ton in 2021, growing by 95% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Thailand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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