Canada: Polyethylene Glycol Wax Market 2022

Polyethylene Glycol Wax Market Size in Canada

The Canadian polyethylene glycol wax market skyrocketed to $X in 2021, picking up by 23% against the previous year. Overall, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.2% against 2019 indices. Polyethylene glycol wax consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Polyethylene Glycol Wax Production in Canada

In value terms, polyethylene glycol wax production soared to $X in 2021 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 43%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from Canada

In 2021, overseas shipments of artificial and prepared waxes of polyethylene glycol decreased by -32.7% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, saw strong growth. The growth pace was the most rapid in 2014 with an increase of 209% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, polyethylene glycol wax exports contracted modestly to $X in 2021. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 186%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Ireland (X tons) and Germany (X tons) were the main destinations of polyethylene glycol wax exports from Canada, together comprising 100% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +0.3%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for polyethylene glycol wax exported from Canada were the United States ($X), Ireland ($X) and Germany ($X), together accounting for 100% of total exports.

The United States, with a CAGR of +0.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, jumping by 44% against the previous year. Overall, the export price, however, saw a noticeable setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Ireland ($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 the United States (+0.2%).

Polyethylene Glycol Wax Imports

Imports into Canada

In 2021, approx. X tons of artificial and prepared waxes of polyethylene glycol were imported into Canada; rising by 12% compared with 2020 figures. Over the period under review, imports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2020 when imports increased by 38% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports skyrocketed to $X in 2021. Overall, imports, however, saw a noticeable curtailment. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of polyethylene glycol wax to Canada, accounting for a 92% share of total imports. Moreover, polyethylene glycol wax imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-7.6% per year) and Germany (-18.4% per year).

In value terms, the United States ($X) constituted the largest supplier of polyethylene glycol wax to Canada, comprising 92% of total imports. The second position in the ranking was taken by Mexico ($X), with a 4.8% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-4.8% per year) and Germany (-13.9% per year).

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, rising by 21% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 22%. The import price peaked at $X per ton in 2015; however, from 2016 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 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 (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :