Asia-Pacific: Candles And Tapers Market 2024

Candles And Tapers Market Size in Asia-Pacific

The Asia-Pacific candles and tapers market fell modestly to $X in 2021, which is down by -4.4% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +72.5% against 2012 indices. Over the period under review, the market attained the peak level at $X in 2020, and then reduced modestly in the following year.

Candles And Tapers Production in Asia-Pacific

In value terms, candles and tapers production contracted slightly to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.6% against 2012 indices. The pace of growth was the most pronounced in 2016 with an increase of 18%. The level of production peaked at $X in 2020, and then contracted in the following year.

Candles And Tapers Exports

Exports in Asia-Pacific

In 2021, approx. X tons of candles and tapers were exported in Asia-Pacific; rising by 18% compared with 2020. The total export volume increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers exports soared to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.8% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of candles and tapers in Asia-Pacific, with the volume of exports amounting to X tons, which was near 68% of total exports in 2021. Vietnam (X tons) held the second position in the ranking, distantly followed by India (X tons). All these countries together took approx. 27% share of total exports. Thailand (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Vietnam (+7.2%) and Thailand (+2.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +7.2% from 2012-2021. By contrast, India (-1.3%) illustrated a downward trend over the same period. Vietnam (+5.3 p.p.) and China (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest candles and tapers supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 27% share of total exports. It was followed by India, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +4.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+7.0% per year) and India (+7.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 13% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while China ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.7%), while the other leaders experienced mixed trends in the export price figures.

Candles And Tapers Imports

Imports in Asia-Pacific

In 2021, overseas purchases of candles and tapers decreased by -0.9% to X tons, falling for the second consecutive year after four years of growth. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.9% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 38% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, candles and tapers imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Australia (X tons), distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons), Japan (X tons), Malaysia (X tons) and New Zealand (X tons) represented the main importers of candles and tapers, together creating 72% of total imports. Singapore (X tons), India (X tons), Indonesia (X tons), Timor-Leste (X tons), Hong Kong SAR (X tons), China (X tons) and the Philippines (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +28.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest candles and tapers importing markets in Asia-Pacific were Australia ($X), South Korea ($X) and Japan ($X), together accounting for 53% of total imports. China, Singapore, Taiwan (Chinese), Hong Kong SAR, New Zealand, Malaysia, Indonesia, India, Timor-Leste and the Philippines lagged somewhat behind, together comprising a further 42%.

Among the main importing countries, the Philippines, with a CAGR of +25.6%, 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 Asia-Pacific stood at $X per ton in 2021, jumping by 47% against the previous year. Import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers import price increased by +122.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 51%. The level of import peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the Philippines ($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 (+23.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :