Eastern Asia: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in Eastern Asia

The East Asian polyethylene glycol wax market amounted to $X in 2023, standing approx. at the previous year. The total consumption indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Polyethylene Glycol Wax Production in Eastern Asia

In value terms, polyethylene glycol wax production rose markedly to $X in 2023 estimated in export price. Overall, production enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Polyethylene Glycol Wax Exports

Exports in Eastern Asia

Polyethylene glycol wax exports expanded notably to X tons in 2023, growing by X% compared with the previous year. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked in 2023 and is likely to continue growth in the immediate term.

In value terms, polyethylene glycol wax exports rose significantly to $X in 2023. In general, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

South Korea represented the key exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by China (X tons), generating a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to polyethylene glycol wax exports from South Korea stood at X%. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. China (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, South Korea ($X) remains the largest polyethylene glycol wax supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in South Korea stood at X%.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%).

Polyethylene Glycol Wax Imports

Imports in Eastern Asia

In 2023, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports recorded a noticeable slump. The pace of growth was the most pronounced in 2019 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, polyethylene glycol wax imports reduced markedly to $X in 2023. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then contracted sharply in the following year.

Imports by Country

China prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2023. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with an X% share, followed by South Korea (X%). Japan (X tons) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Japan increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported artificial and prepared waxes of polyethylene glycol in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

In China, polyethylene glycol wax imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, which is down by X% against the previous year. Import price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, polyethylene glycol wax import price increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform