Benelux: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Benelux

The Benelux worked wax articles market skyrocketed to $X in 2022, with an increase of 28% against the previous year. Overall, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Worked Wax Articles Production in Benelux

In value terms, worked wax articles production expanded sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 36% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Worked Wax Articles Exports

Exports in Benelux

In 2022, exports of worked articles of wax in Benelux stood at X units, almost unchanged from the previous year. Over the period under review, exports, however, continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2020 with an increase of 25%. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, worked wax articles exports reduced sharply to $X in 2022. Overall, exports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belgium represented the main exporting country with an export of around X units, which amounted to 81% of total exports. It was distantly followed by the Netherlands (X units), creating a 19% share of total exports.

Belgium was also the fastest-growing in terms of the worked articles of wax exports, with a CAGR of -1.8% from 2012 to 2022. The Netherlands (-10.1%) illustrated a downward trend over the same period. Belgium (+17 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by -17.2% from 2012 to 2022, respectively.

In value terms, Belgium ($X) remains the largest worked wax articles supplier in Benelux, comprising 89% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Belgium totaled -1.3%.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per thousand units, waning by -21.6% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 export price decreased by -23.6% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 46%. As a result, the export price attained the peak level of $X per thousand units. From 2020 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 Belgium ($X per thousand units), while the Netherlands amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.4%).

Worked Wax Articles Imports

Imports in Benelux

In 2022, approx. X units of worked articles of wax were imported in Benelux; rising by 3% compared with the previous year's figure. Overall, imports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 40% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, worked wax articles imports declined significantly to $X in 2022. Over the period under review, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 45% 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

The Netherlands (X units) and Belgium (X units) represented roughly 99% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of -1.8%).

In value terms, the largest worked wax articles importing markets in Benelux were the Netherlands ($X) and Belgium ($X).

The Netherlands, with a CAGR of -3.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per thousand units, with a decrease of -27.7% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 97%. The level of import peaked at $X per thousand units in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per thousand units), while Belgium amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.6%).

Source: IndexBox Platform