Spain: Polyethylene Glycol Wax Market 2022

Polyethylene Glycol Wax Market Size in Spain

The Spanish polyethylene glycol wax market rose markedly to $X in 2021, with an increase of 12% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Polyethylene Glycol Wax Production in Spain

In value terms, polyethylene glycol wax production soared to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible downturn. Polyethylene glycol wax production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Polyethylene Glycol Wax Exports

Exports from Spain

After two years of growth, overseas shipments of artificial and prepared waxes of polyethylene glycol decreased by -1% to X tons in 2021. Overall, exports saw a mild contraction. The pace of growth appeared the most rapid in 2014 with an increase of 132% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, polyethylene glycol wax exports surged to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 102% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Portugal (X tons), France (X tons) and Germany (X tons) were the main destinations of polyethylene glycol wax exports from Spain, together accounting for 54% of total exports.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +107.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol wax exported from Spain were Portugal ($X), France ($X) and Algeria ($X), with a combined 53% share of total exports. Germany, Slovakia, Italy, Hungary, Argentina, Morocco and Egypt lagged somewhat behind, together accounting for a further 28%.

Germany, with a CAGR of +100.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polyethylene glycol wax export price stood at $X per ton in 2021, jumping by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the average price for exports to Germany ($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 (+43.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into Spain

In 2021, purchases abroad of artificial and prepared waxes of polyethylene glycol decreased by -5.8% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 60%. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, polyethylene glycol wax imports rose significantly to $X in 2021. Over the period under review, imports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 51% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

Germany (X tons), Russia (X tons) and Denmark (X tons) were the main suppliers of polyethylene glycol wax imports to Spain, together accounting for 82% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +110.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene glycol wax suppliers to Spain were Germany ($X), Denmark ($X) and Russia ($X), with a combined 87% share of total imports.

Among the main suppliers, Denmark, with a CAGR of +124.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyethylene glycol wax import price amounted to $X per ton, rising by 21% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Denmark ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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