U.S.: Polyethylene Glycol Wax Market 2022

Polyethylene Glycol Wax Market Size in the U.S.

The U.S. polyethylene glycol wax market shrank modestly to $X in 2021, therefore, remained relatively stable against the previous year. Overall, consumption, however, continues to indicate a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Polyethylene Glycol Wax Production in the U.S.

In value terms, polyethylene glycol wax production reduced modestly to $X in 2021. In general, production, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2018 when the production volume increased by 22%. 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 the U.S.

In 2021, the amount of artificial and prepared waxes of polyethylene glycol exported from the United States expanded remarkably to X tons, with an increase of 9.3% on the previous year's figure. In general, exports, however, saw a abrupt decrease. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax exports totaled $X in 2021. Overall, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2018 when exports increased by 18%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for polyethylene glycol wax exports from the United States, with a 29% share of total exports. Moreover, polyethylene glycol wax exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. Belgium (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-4.8% per year) and Belgium (-28.1% per year).

In value terms, Canada ($X), Chile ($X) and Mexico ($X) constituted the largest markets for polyethylene glycol wax exported from the United States worldwide, with a combined 48% share of total exports.

In terms of the main countries of destination, Chile, with a CAGR of +30.1%, recorded 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 2021, the average polyethylene glycol wax export price amounted to $X per ton, remaining constant against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2020 when the average export price increased by 12%. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Chile ($X per ton), while the average price for exports to South Korea ($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 Chile (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Polyethylene Glycol Wax Imports

Imports into the U.S.

In 2021, overseas purchases of artificial and prepared waxes of polyethylene glycol increased by 14% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, polyethylene glycol wax imports expanded significantly to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.6% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Russia (X tons) constituted the largest polyethylene glycol wax supplier to the United States, with a 45% share of total imports. Moreover, polyethylene glycol wax imports from Russia exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at +138.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-13.5% per year) and Germany (-3.0% per year).

In value terms, Russia ($X), Japan ($X) and Germany ($X) appeared to be the largest polyethylene glycol wax suppliers to the United States, with a combined 66% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of +143.0%, 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

The average polyethylene glycol wax import price stood at $X per ton in 2021, dropping by -3.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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