Algeria: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Algeria

The Algerian worked wax articles market fell sharply to $X in 2022, waning by -15.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted resilient growth. Worked wax articles consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Worked Wax Articles Exports

Exports from Algeria

In 2022, shipments abroad of worked articles of wax was finally on the rise to reach X units after two years of decline. Overall, exports posted measured growth. The most prominent rate of growth was recorded in 2013 with an increase of 641% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, worked wax articles exports soared to $X in 2022. In general, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 677%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X units), France (X units) and Belgium (X units) were the main destinations of worked wax articles exports from Algeria, together comprising 72% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +76.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X), Germany ($X) and France ($X) appeared to be the largest markets for worked wax articles exported from Algeria worldwide, with a combined 66% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +39.1%, 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 2022, the average worked wax articles export price amounted to $X per thousand units, picking up by 4.2% against the previous year. Overall, the export price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 279%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per thousand units), while the average price for exports to France ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+50.0%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Algeria

In 2022, worked wax articles imports into Algeria reduced dramatically to X units, which is down by -16.4% against 2021. Over the period under review, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 72%. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, worked wax articles imports contracted dramatically to $X in 2022. Overall, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2021 when imports increased by 43% against the previous year. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2022, Belgium (X units) constituted the largest worked wax articles supplier to Algeria, with a 31% share of total imports. Moreover, worked wax articles imports from Belgium exceeded the figures recorded by the second-largest supplier, India (X units), twofold. France (X units) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.3% per year) and France (-0.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of worked articles of wax to Algeria, comprising 35% of total imports. The second position in the ranking was held by India ($X), with a 9% share of total imports. It was followed by France, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.7% per year) and France (-3.3% per year).

Import Prices by Country

The average worked wax articles import price stood at $X per thousand units in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 113% against the previous year. The import price peaked at $X per thousand units in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per thousand units), while the price for Egypt ($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 China (+17.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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