Argentina: Polyethylene Glycol Wax Market 2022

Polyethylene Glycol Wax Market Size in Argentina

In 2021, the Argentinian polyethylene glycol wax market increased by 19% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Polyethylene glycol wax consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Polyethylene Glycol Wax Exports

Exports from Argentina

In 2021, after eight years of decline, there was significant growth in overseas shipments of artificial and prepared waxes of polyethylene glycol, when their volume increased by 13% to X tons. Overall, exports, however, saw a dramatic descent. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports rose markedly to $X in 2021. In general, exports, however, saw a dramatic shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons) was the main destination for polyethylene glycol wax exports from Argentina, with a 49% share of total exports. Moreover, polyethylene glycol wax exports to Paraguay exceeded the volume sent to the second major destination, Italy (X kg), twofold. Chile (X kg) ranked third in terms of total exports with a 22% share.

From 2012 to 2021, the average annual growth rate of volume to Paraguay amounted to -28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (0.0% per year) and Chile (-7.9% per year).

In value terms, Paraguay ($X) remains the key foreign market for polyethylene glycol wax exports from Argentina, comprising 59% of total exports. The second position in the ranking was taken by Chile ($X), with a 17% share of total exports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Paraguay amounted to -25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+4.7% per year) and Italy (0.0% per year).

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, shrinking by -2.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2013 an increase of 8.4%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then dropped slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Bolivia ($X per ton), while the average price for exports to Italy ($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 China (+98.7%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Argentina

In 2021, supplies from abroad of artificial and prepared waxes of polyethylene glycol increased by 13% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, imports, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2019 with an increase of 23% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports soared to $X in 2021. Overall, imports saw a relatively flat trend pattern. Imports peaked at $X in 2013; afterwards, it flattened through to 2021.

Imports by Country

Mexico (X tons), India (X tons) and Brazil (X tons) were the main suppliers of polyethylene glycol wax imports to Argentina, with a combined 87% share of total imports.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +47.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X), Mexico ($X) and Brazil ($X) were the largest polyethylene glycol wax suppliers to Argentina, together accounting for 79% of total imports.

Among the main suppliers, India, with a CAGR of +43.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, increasing by 6.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 17% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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