Canada: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Canada

The Canadian worked wax articles market was estimated at $X in 2022, surging by 2.9% against the previous year. Over the period under review, consumption recorded a remarkable increase. Worked wax articles consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Worked Wax Articles Production in Canada

In value terms, worked wax articles production expanded notably to $X in 2022 estimated in export price. In general, production showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 29%. Worked wax articles production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Worked Wax Articles Exports

Exports from Canada

In 2022, overseas shipments of worked articles of wax increased by 17% to X units, rising for the fourth consecutive year after two years of decline. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 74% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, worked wax articles exports rose remarkably to $X in 2022. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 69%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for worked wax articles exports from Canada, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +15.3%.

In value terms, the United States ($X) also remains the key foreign market for worked articles of wax exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +16.2%.

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, shrinking by -7.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 31%. Over the period under review, the average export prices reached the maximum at $X per thousand units in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +0.8% per year.

Worked Wax Articles Imports

Imports into Canada

In 2022, approx. X units of worked articles of wax were imported into Canada; increasing by 5.3% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 12% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, worked wax articles imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of worked wax articles to Canada, with a 63% share of total imports. Moreover, worked wax articles imports from the United States exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. Vietnam (X units) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.1% per year) and Vietnam (+60.5% per year).

In value terms, the United States ($X) constituted the largest supplier of worked articles of wax to Canada, comprising 63% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by Vietnam, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.6% per year) and Vietnam (+61.2% per year).

Import Prices by Country

The average worked wax articles import price stood at $X per thousand units in 2022, almost unchanged from the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per thousand units. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per thousand units) and the United States ($X per thousand units), while the price for Mexico ($X per thousand units) and China ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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