GCC: Polyethylene Glycol Wax Market 2024

Polyethylene Glycol Wax Market Size in GCC

The GCC polyethylene glycol wax market reached $X in 2023, remaining stable against the previous year. Over the period under review, consumption posted a buoyant increase. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Polyethylene Glycol Wax Production in GCC

In value terms, polyethylene glycol wax production totaled $X in 2023 estimated in export price. The total production indicated a noticeable increase 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Polyethylene Glycol Wax Exports

Exports in GCC

In 2023, exports of artificial and prepared waxes of polyethylene glycol in GCC fell notably to X tons, with a decrease of X% against 2022 figures. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, polyethylene glycol wax exports declined rapidly to $X in 2023. Over the period under review, exports, however, posted measured growth. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Saudi Arabia dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of artificial and prepared waxes of polyethylene glycol. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Saudi Arabia ($X) remains the largest polyethylene glycol wax supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total exports.

In Saudi Arabia, polyethylene glycol wax exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, shrinking by X% against the previous year. Export price indicated a notable increase from 2012 to 2023: its price 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, polyethylene glycol wax export price increased by X% against 2019 indices. The growth pace was the most rapid in 2022 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

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

Polyethylene Glycol Wax Imports

Imports in GCC

In 2023, overseas purchases of artificial and prepared waxes of polyethylene glycol decreased by X% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, polyethylene glycol wax imports dropped modestly to $X in 2023. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the one major importers of artificial and prepared waxes of polyethylene glycol, namely the United Arab Emirates, represented more than two-thirds of total import.

The United Arab Emirates was also the fastest-growing in terms of the artificial and prepared waxes of polyethylene glycol imports, with a CAGR of X% from 2012 to 2023. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported artificial and prepared waxes of polyethylene glycol in GCC.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price saw a deep slump. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2023, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Source: IndexBox Platform