Saudi Arabia: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Saudi Arabia

In 2022, the Saudi polyethylene glycol wax market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw a remarkable increase. Polyethylene glycol wax consumption peaked at $X in 2021, and then fell dramatically in the following year.

Polyethylene Glycol Wax Production in Saudi Arabia

In value terms, polyethylene glycol wax production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Polyethylene Glycol Wax Exports

Exports from Saudi Arabia

In 2022, overseas shipments of artificial and prepared waxes of polyethylene glycol increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax exports surged to $X in 2022. Over the period under review, exports posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Egypt (X tons), Pakistan (X tons) and Malaysia (X tons) were the main destinations of polyethylene glycol wax exports from Saudi Arabia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Pakistan ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for polyethylene glycol wax exported from Saudi Arabia worldwide, with a combined X% share of total exports. Malaysia, Australia and Vietnam lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Malaysia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average polyethylene glycol wax export price amounted to $X per ton, jumping by X% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polyethylene glycol wax export price increased by X% against 2019 indices. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Saudi Arabia

In 2021, purchases abroad of artificial and prepared waxes of polyethylene glycol increased by X% to X tons, rising for the sixth year in a row after two years of decline. In general, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax imports soared to $X in 2021. Overall, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of polyethylene glycol wax to Saudi Arabia, accounting for a X% share of total imports. Moreover, polyethylene glycol wax imports from South Korea exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Germany (X% per year).

In value terms, South Korea ($X) constituted the largest supplier of artificial and prepared waxes of polyethylene glycol to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the United States (X% per year).

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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