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

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

The Belarusian polyethylene glycol and polyether market soared to $X in 2021, picking up by 94% 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). Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Belarus

For the third year in a row, Belarus recorded decline in shipments abroad of polyethylene glycols and polyethers in primary forms, which decreased by -6.3% to X tons in 2021. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of 145% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, polyethylene glycol and polyether exports expanded slightly to $X in 2021. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 166% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for polyethylene glycol and polyether exports from Belarus, accounting for a 87% share of total exports. Moreover, polyethylene glycol and polyether exports to Russia exceeded the volume sent to the second major destination, Egypt (X tons), more than tenfold. Ukraine (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled -7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-22.3% per year) and Ukraine (+22.7% per year).

In value terms, Russia ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Belarus, comprising 81% of total exports. The second position in the ranking was held by Egypt ($X), with a 12% share of total exports. It was followed by Ukraine, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-8.7% per year) and Ukraine (+14.9% per year).

Export Prices by Country

The average polyethylene glycol and polyether export price stood at $X per ton in 2021, with an increase of 9.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 an increase of 23%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Italy ($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 Egypt (+17.4%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Belarus

In 2021, approx. X tons of polyethylene glycols and polyethers in primary forms were imported into Belarus; increasing by 52% compared with 2020. Overall, total imports indicated pronounced growth from 2012 to 2021: its volume 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, imports increased by +67.7% against 2016 indices. 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. In general, imports posted perceptible growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest polyethylene glycol and polyether supplier to Belarus, accounting for a 25% share of total imports. Moreover, polyethylene glycol and polyether imports from Russia exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was taken by Lithuania (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from Russia amounted to +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+17.7% per year) and Lithuania (+58.3% per year).

In value terms, Russia ($X), Poland ($X) and Lithuania ($X) appeared to be the largest polyethylene glycol and polyether suppliers to Belarus, together accounting for 47% of total imports.

Lithuania, with a CAGR of +54.9%, recorded the highest growth rate of the value of imports, among the main suppliers 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 and polyether import price stood at $X per ton in 2021, with an increase of 37% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Saudi Arabia ($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 (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :