Central Asia: Candles And Tapers Market 2024

Candles And Tapers Market Size in Central Asia

The Central Asian candles and tapers market expanded modestly to $X in 2021, with an increase of 4.3% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +22.6% against 2019 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Candles And Tapers Production in Central Asia

In value terms, candles and tapers production fell to $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 37%. The level of production peaked at $X in 2020, and then contracted in the following year.

Candles And Tapers Exports

Exports in Central Asia

In 2021, overseas shipments of candles and tapers increased by 256% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 551% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, candles and tapers exports skyrocketed to $X in 2021. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 397%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

Uzbekistan dominates exports structure, amounting to X tons, which was near 91% of total exports in 2021. It was distantly followed by Kazakhstan (X tons), making up a 7.2% share of total exports.

Exports from Uzbekistan increased at an average annual rate of +55.0% from 2012 to 2021. At the same time, Kazakhstan (+70.2%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +70.2% from 2012-2021. While the share of Uzbekistan (+91 p.p.) and Kazakhstan (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) remains the largest candles and tapers supplier in Central Asia, comprising 82% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 15% share of total exports.

In Uzbekistan, candles and tapers exports increased at an average annual rate of +65.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, rising by 18% against the previous year. Over the period under review, the export price, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2016 an increase of 103%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+6.9%).

Candles And Tapers Imports

Imports in Central Asia

In 2021, after two years of decline, there was significant growth in supplies from abroad of candles and tapers, when their volume increased by 69% to X tons. In general, imports showed a noticeable increase. The most prominent rate of growth was recorded in 2018 with an increase of 109% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, candles and tapers imports surged to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan represented the major importing country with an import of about X tons, which finished at 60% of total imports. Uzbekistan (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Mongolia (16%). The following importers - Kyrgyzstan (X tons) and Tajikistan (X tons) - each resulted at a 5.8% share of total imports.

Imports into Kazakhstan increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, Uzbekistan (+38.7%), Mongolia (+5.7%) and Kyrgyzstan (+3.9%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +38.7% from 2012-2021. By contrast, Tajikistan (-17.0%) illustrated a downward trend over the same period. While the share of Uzbekistan (+18 p.p.) and Mongolia (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kazakhstan (-2.8 p.p.) and Tajikistan (-16.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) constitutes the largest market for imported candles and tapers in Central Asia, comprising 72% of total imports. The second position in the ranking was taken by Mongolia ($X), with a 17% share of total imports. It was followed by Uzbekistan, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Kazakhstan stood at +11.5%. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (+10.9% per year) and Uzbekistan (+84.7% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, jumping by 34% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers import price increased by +96.1% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 45% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+33.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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