Asia: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Asia

The Asian vegetable waxes market shrank to $X in 2022, falling by X% against the previous year. Overall, consumption recorded a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Waxes Production in Asia

In value terms, vegetable waxes production fell to $X in 2022 estimated in export price. In general, production faced a deep downturn. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Waxes Exports

Exports in Asia

In 2022, approx. X tons of vegetable waxes were exported in Asia; with an increase of X% compared with 2021 figures. Over the period under review, exports, however, faced a abrupt curtailment. 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 soared to $X in 2022. In general, exports, however, saw a abrupt descent. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia represented the main exporter of vegetable waxes in Asia, with the volume of exports reaching 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 held near X% share of total exports. The Philippines (X tons), Japan (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Exports from Indonesia decreased at an average annual rate of X% from 2012 to 2022. 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, 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 ($X) emerged as the largest vegetable waxes supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

In Indonesia, vegetable waxes exports declined by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 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

For the third year in a row, Asia recorded growth in overseas purchases of vegetable waxes, which increased by X% to X tons in 2022. Over the period under review, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable waxes imports rose sharply to $X in 2022. In general, imports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China represented the key importer of vegetable waxes in Asia, with the volume of imports recording X tons, which was near X% of total imports in 2022. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%) and South Korea (X%). The following importers - India (X tons), Singapore (X tons), Myanmar (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons) and Turkey (X tons) - together made up X% 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%), Singapore (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. India, Turkey 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. From 2012 to 2022, the share of Japan, Vietnam, South Korea, India, Singapore and Myanmar increased by X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. South Korea, India, Taiwan (Chinese), Singapore, Turkey, 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, among 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

In 2022, the import price in Asia amounted to $X per ton, remaining stable against the previous year. Import price indicated a buoyant 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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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