Central Asia: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Central Asia

For the fourth year in a row, the Central Asian worked wax articles market recorded growth in sales value, which increased by 6.6% to $X in 2022. Overall, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Worked Wax Articles Production in Central Asia

In value terms, worked wax articles production surged to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 177% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Worked Wax Articles Exports

Exports in Central Asia

In 2022, overseas shipments of worked articles of wax increased by 245% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a pronounced expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,692%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, worked wax articles exports plummeted to $X in 2022. Over the period under review, exports posted a temperate expansion. The pace of growth appeared the most rapid in 2015 with an increase of 121% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Kyrgyzstan represented the largest exporting country with an export of about X units, which recorded 88% of total exports. It was distantly followed by Kazakhstan (X units), constituting an 11% share of total exports.

Exports from Kyrgyzstan increased at an average annual rate of +11.9% from 2012 to 2022. At the same time, Kazakhstan (+14.7%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +14.7% from 2012-2022. While the share of Kyrgyzstan (+45 p.p.) and Kazakhstan (+7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kyrgyzstan ($X) emerged as the largest worked wax articles supplier in Central Asia, comprising 96% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 3.8% share of total exports.

In Kyrgyzstan, worked wax articles exports increased at an average annual rate of +16.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per thousand units, dropping by -77.1% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 1,527% against the previous year. As a result, the export price reached the peak level of $X per thousand units. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per thousand units), while Kazakhstan stood at $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+4.3%).

Worked Wax Articles Imports

Imports in Central Asia

In 2022, overseas purchases of worked articles of wax were finally on the rise to reach X units after two years of decline. Overall, imports showed a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 283% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, worked wax articles imports soared to $X in 2022. In general, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 322%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Uzbekistan (X units) and Kazakhstan (X units) represented the major importers of worked articles of wax in 2022, accounting for near 46% and 38% of total imports, respectively. It was distantly followed by Kyrgyzstan (X units), achieving a 13% share of total imports. Mongolia (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +39.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest worked wax articles importing markets in Central Asia were Uzbekistan ($X), Kazakhstan ($X) and Kyrgyzstan ($X), together accounting for 95% of total imports.

Among the main importing countries, Kyrgyzstan, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Central Asia stood at $X per thousand units in 2022, shrinking by -27.6% against the previous year. In general, the import price recorded a noticeable decline. The growth pace was the most rapid in 2015 an increase of 81% against the previous year. Over the period under review, import prices hit record highs at $X per thousand units in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mongolia ($X per thousand units), while Kyrgyzstan ($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 Mongolia (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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