Bangladesh: Market for Polyethylene Glycols and Polyethers in Primary Forms 2023

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Bangladesh

The Bangladeshi polyethylene glycol and polyether market skyrocketed to $X in 2021, picking up by 151% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Bangladesh

In 2021, overseas shipments of polyethylene glycols and polyethers in primary forms decreased by -36.4% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 163% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyethylene glycol and polyether exports declined dramatically to $X in 2021. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 109%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria (X tons) was the main destination for polyethylene glycol and polyether exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Nigeria amounted to +23.9%.

In value terms, Nigeria ($X) also remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Bangladesh.

From 2012 to 2021, the average annual growth rate of value to Nigeria totaled +28.1%.

Export Prices by Country

In 2021, the average polyethylene glycol and polyether export price amounted to $X per ton, surging by 5.6% against the previous year. In general, the export price continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 79% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +3.3% per year.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Bangladesh

In 2021, approx. X tons of polyethylene glycols and polyethers in primary forms were imported into Bangladesh; increasing by 98% compared with the year before. Overall, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol and polyether imports soared to $X in 2021. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of polyethylene glycol and polyether to Bangladesh, accounting for a 42% share of total imports. Moreover, polyethylene glycol and polyether imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Singapore (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +51.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+21.9% per year) and Singapore (+1.4% per year).

In value terms, China ($X) constituted the largest supplier of polyethylene glycols and polyethers in primary forms to Bangladesh, comprising 41% of total imports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +53.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+3.9% per year) and South Korea (+19.3% per year).

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, surging by 35% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Singapore ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for South Korea ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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