Africa: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Africa

The African worked wax articles market rose sharply to $X in 2022, with an increase of 8.5% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.6% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Worked Wax Articles Production in Africa

In value terms, worked wax articles production expanded rapidly to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 58%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Worked Wax Articles Exports

Exports in Africa

In 2022, overseas shipments of worked articles of wax decreased by -64.5% to X units, falling for the second consecutive year after two years of growth. Overall, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of 203%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, worked wax articles exports dropped rapidly to $X in 2022. Over the period under review, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2014 when exports increased by 57%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ethiopia was the main exporter of worked articles of wax in Africa, with the volume of exports amounting to X units, which was near 38% of total exports in 2022. Egypt (X units) took the second position in the ranking, followed by Zambia (X units), South Africa (X units), Cote d'Ivoire (X units) and Morocco (X units). All these countries together took approx. 51% share of total exports. Kenya (X units) followed a long way behind the leaders.

Ethiopia experienced a relatively flat trend pattern with regard to volume of exports of worked articles of wax. At the same time, Zambia (+45.1%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +45.1% from 2012-2022. By contrast, Cote d'Ivoire (-3.7%), South Africa (-4.6%), Egypt (-5.9%), Kenya (-18.4%) and Morocco (-19.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ethiopia, Zambia, Cote d'Ivoire and South Africa increased by +17, +13, +2.2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest worked wax articles supplying countries in Africa were Ethiopia ($X), Egypt ($X) and South Africa ($X), with a combined 86% share of total exports. Zambia, Cote d'Ivoire, Kenya and Morocco lagged somewhat behind, together accounting for a further 7.8%.

Zambia, with a CAGR of +31.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per thousand units, picking up by 36% against the previous year. In general, the export price enjoyed mild growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 102%. Over the period under review, the export prices attained the maximum at $X per thousand units in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per thousand units), while Morocco ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+6.3%), while the other leaders experienced mixed trends in the export price figures.

Worked Wax Articles Imports

Imports in Africa

In 2022, purchases abroad of worked articles of wax decreased by -5.1% to X units, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, worked wax articles imports contracted to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.2% against 2013 indices. The growth pace was the most rapid in 2020 with an increase of 19% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The countries with the highest levels of worked wax articles imports in 2022 were Algeria (X units), Ghana (X units), Egypt (X units), South Africa (X units) and Nigeria (X units), together amounting to 71% of total import. It was distantly followed by Tunisia (X units), constituting a 4.7% share of total imports. Kenya (X units), Morocco (X units), Sudan (X units), Mauritius (X units), Uganda (X units), Democratic Republic of the Congo (X units) and Malawi (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +39.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest worked wax articles importing markets in Africa were Algeria ($X), Egypt ($X) and South Africa ($X), together accounting for 60% of total imports. Ghana, Morocco, Nigeria, Tunisia, Sudan, Kenya, Uganda, Democratic Republic of the Congo, Malawi and Mauritius lagged somewhat behind, together comprising a further 37%.

In terms of the main importing countries, Democratic Republic of the Congo, with a CAGR of +33.2%, recorded 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 import price in Africa stood at $X per thousand units in 2022, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 when the import price increased by 19%. As a result, import price reached the peak level of $X per thousand units, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per thousand units), while Mauritius ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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