Asia-Pacific: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Asia-Pacific

The Asia-Pacific vegetable waxes market dropped to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption continues to indicate a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Waxes Production in Asia-Pacific

In value terms, vegetable waxes production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Waxes Exports

Exports in Asia-Pacific

In 2022, the amount of vegetable waxes exported in Asia-Pacific soared to X tons, growing by X% compared with the previous year. In general, exports, however, recorded a deep reduction. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vegetable waxes exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a drastic downturn. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia was the largest exporter of vegetable waxes in Asia-Pacific, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. China (X tons) held the second position in the ranking, followed by Thailand (X tons) and India (X tons). All these countries together took approx. X% share of total exports. The following exporters - the Philippines (X tons), Japan (X tons) and Malaysia (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vegetable waxes exports from Indonesia stood at X%. At the same time, Thailand (X%), India (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, China (X%), the Philippines (X%) and Japan (X%) illustrated a downward trend over the same period. China (X p.p.), Thailand (X p.p.), India (X p.p.), Malaysia (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) emerged as the largest vegetable waxes supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled X%. In the other countries, the average annual rates were as follows: China (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Vegetable Waxes Imports

Imports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas purchases of vegetable waxes, which increased by X% to X tons in 2022. In general, imports, however, recorded a deep slump. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable waxes imports expanded slightly to $X in 2022. Over the period under review, imports, however, showed a pronounced setback. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China was the main importer of vegetable waxes in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Japan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%), Australia (X%) and South Korea (X%). India (X tons), Singapore (X tons), Myanmar (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to vegetable waxes imports into China stood at X%. At the same time, Myanmar (X%), Vietnam (X%), Australia (X%), Singapore (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. India and Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%) and the Philippines (X%) illustrated a downward trend over the same period. While the share of Japan (X p.p.), Vietnam (X p.p.), Australia (X p.p.), South Korea (X p.p.), India (X p.p.), Singapore (X p.p.) and Myanmar (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. South Korea, India, Australia, Taiwan (Chinese), Singapore, the Philippines and Myanmar lagged somewhat behind, together comprising a further X%.

Singapore, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 2022, picking up by X% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable waxes import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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