Australia and Oceania: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Australia and Oceania

The worked wax articles market in Australia and Oceania amounted to $X in 2022, picking up by 13% against the previous year. Overall, consumption showed buoyant growth. 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 Australia and Oceania

In value terms, worked wax articles production amounted to $X in 2022 estimated in export price. Overall, production showed a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 83% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Worked Wax Articles Exports

Exports in Australia and Oceania

For the third consecutive year, Australia and Oceania recorded growth in overseas shipments of worked articles of wax, which increased by 29% to X units in 2022. Over the period under review, exports continue to indicate measured growth. The pace of growth was the most pronounced in 2020 with an increase of 59% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, worked wax articles exports soared to $X in 2022. Overall, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when exports increased by 62% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from New Zealand (X units) and Australia (X units), together recording 99% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Australia (with a CAGR of +7.2%).

In value terms, New Zealand ($X) and Australia ($X) appeared to be the countries with the highest levels of exports in 2022.

Australia, with a CAGR of +19.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Australia and Oceania stood at $X per thousand units in 2022, growing by 5.5% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price 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. The pace of growth was the most pronounced in 2015 an increase of 97%. Over the period under review, the export prices hit record highs at $X per thousand units in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per thousand units), while Australia stood at $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+11.2%).

Worked Wax Articles Imports

Imports in Australia and Oceania

In 2022, supplies from abroad of worked articles of wax increased by 18% to X units, rising for the third year in a row after two years of decline. Total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +60.4% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 65%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, worked wax articles imports soared to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +69.1% against 2019 indices. The pace of growth was the most pronounced in 2018 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Australia was the main importer of worked articles of wax in Australia and Oceania, with the volume of imports reaching X units, which was near 71% of total imports in 2022. It was distantly followed by New Zealand (X units), making up a 23% share of total imports. New Caledonia (X units) and Fiji (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to worked wax articles imports into Australia stood at +4.6%. At the same time, Fiji (+25.0%), New Caledonia (+24.5%) and New Zealand (+3.3%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +25.0% from 2012-2022. New Caledonia (+2.1 p.p.) and Fiji (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand saw its share reduced by -3.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported worked articles of wax in Australia and Oceania, comprising 75% of total imports. The second position in the ranking was held by New Zealand ($X), with a 25% share of total imports. It was followed by New Caledonia, with a 0.5% share.

In Australia, worked wax articles imports expanded at an average annual rate of +7.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+4.2% per year) and New Caledonia (+14.8% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per thousand units, approximately mirroring the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, worked wax articles import price increased by +66.7% against 2016 indices. The growth pace was the most rapid in 2018 when the import price increased by 42% against the previous year. The level of import peaked at $X per thousand units in 2021, and then dropped slightly in the following year.

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 Australia ($X per thousand units), while Fiji ($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 Australia (+2.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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