Greece: Polyethylene Glycol Wax Market 2022

Polyethylene Glycol Wax Market Size in Greece

The Greek polyethylene glycol wax market soared to $X in 2021, rising by 201% 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, consumption continues to indicate a tangible increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Polyethylene Glycol Wax Exports

Exports from Greece

Polyethylene glycol wax exports from Greece skyrocketed to X tons in 2021, with an increase of 15% against the year before. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 298% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports skyrocketed to $X in 2021. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 154%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Albania (X tons) was the main destination for polyethylene glycol wax exports from Greece, accounting for a 91% share of total exports. Moreover, polyethylene glycol wax exports to Albania exceeded the volume sent to the second major destination, Cyprus (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Albania amounted to +37.3%.

In value terms, Albania ($X) remains the key foreign market for polyethylene glycol wax exports from Greece, comprising 71% of total exports. The second position in the ranking was held by Cyprus ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Albania amounted to +21.0%.

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, jumping by 21% against the previous year. In general, the export price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 81% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Albania stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+1.3%).

Polyethylene Glycol Wax Imports

Imports into Greece

In 2021, approx. X tons of artificial and prepared waxes of polyethylene glycol were imported into Greece; growing by 136% compared with the previous year's figure. In general, imports posted a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax imports skyrocketed to $X in 2021. Over the period under review, imports recorded a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Slovenia (X tons) constituted the largest supplier of polyethylene glycol wax to Greece, accounting for a 70% share of total imports. Moreover, polyethylene glycol wax imports from Slovenia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Slovenia stood at +155.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.7% per year) and Belgium (+1.7% per year).

In value terms, Slovenia ($X) constituted the largest supplier of polyethylene glycol wax to Greece, comprising 62% of total imports. The second position in the ranking was taken by Germany ($X), with a 24% share of total imports. It was followed by Belgium, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Slovenia totaled +116.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.3% per year) and Belgium (+4.1% per year).

Import Prices by Country

The average polyethylene glycol wax import price stood at $X per ton in 2021, increasing by 5.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 53% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for Italy ($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 (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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