Chile: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Chile

The Chilean ethylene glycol market dropped to $X in 2022, waning by -8.8% 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 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +130.5% against 2020 indices. As a result, consumption reached the peak level of $X, and then fell in the following year.

Ethylene Glycol Exports

Exports from Chile

For the third consecutive year, Chile recorded growth in shipments abroad of ethylene glycol (ethanediol), which increased by 335% to X tons in 2022. Over the period under review, exports posted slight growth. The pace of growth appeared the most rapid in 2018 with an increase of 6,155%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, ethylene glycol exports soared to $X in 2022. Overall, exports, however, continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by 1,462%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X tons) and Bolivia (X tons) were the main destinations of ethylene glycol exports from Chile.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bolivia (with a CAGR of +38.2%).

In value terms, Peru ($X) and Bolivia ($X) appeared to be the largest markets for ethylene glycol exported from Chile worldwide.

In terms of the main countries of destination, Bolivia, with a CAGR of +34.1%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average ethylene glycol export price stood at $X per ton in 2022, growing by 29% against the previous year. Overall, the export price, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 44% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Peru stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (-3.0%).

Ethylene Glycol Imports

Imports into Chile

In 2022, imports of ethylene glycol (ethanediol) into Chile fell markedly to X tons, shrinking by -30.5% compared with 2021. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 143%. As a result, imports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, ethylene glycol imports expanded markedly to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +187.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 162% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest ethylene glycol supplier to Chile, with a 79% share of total imports. Moreover, ethylene glycol imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was taken by China (X tons), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.9% per year) and China (+30.2% per year).

In value terms, the United States ($X) constituted the largest supplier of ethylene glycol (ethanediol) to Chile, comprising 79% of total imports. The second position in the ranking was held by China ($X), with a 5.7% share of total imports. It was followed by Belgium, with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.7% per year) and Belgium (+18.9% per year).

Import Prices by Country

The average ethylene glycol import price stood at $X per ton in 2022, jumping by 58% against the previous year. In general, the import price, however, showed a mild slump. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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