CIS: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in CIS

The CIS worked wax articles market stood at $X in 2022, rising by 5.6% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Worked Wax Articles Production in CIS

In value terms, worked wax articles production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2020 with an increase of 60%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Worked Wax Articles Exports

Exports in CIS

Worked wax articles exports dropped slightly to X units in 2022, with a decrease of -2.3% on the previous year's figure. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 68% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then reduced in the following year.

In value terms, worked wax articles exports dropped modestly to $X in 2022. Over the period under review, exports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 83%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted slightly in the following year.

Exports by Country

Russia represented the main exporter of worked articles of wax in the CIS, with the volume of exports finishing at X units, which was approx. 82% of total exports in 2022. It was distantly followed by Belarus (X units), comprising a 15% share of total exports. Kyrgyzstan (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to worked wax articles exports from Russia stood at +8.1%. At the same time, Belarus (+43.4%) and Kyrgyzstan (+11.9%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +43.4% from 2012-2022. Belarus (+14 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -13.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest worked wax articles supplier in the CIS, comprising 90% of total exports. The second position in the ranking was taken by Belarus ($X), with a 9.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled +1.7%. In the other countries, the average annual rates were as follows: Belarus (+56.5% per year) and Kyrgyzstan (+16.6% per year).

Export Prices by Country

The export price in the CIS stood at $X per thousand units in 2022, standing approx. at the previous year. In general, the export price, however, showed a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of 85%. The level of export peaked at $X per thousand units in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per thousand units), while Kyrgyzstan ($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 Belarus (+9.1%), while the other leaders experienced mixed trends in the export price figures.

Worked Wax Articles Imports

Imports in CIS

In 2022, after seven years of growth, there was significant decline in overseas purchases of worked articles of wax, when their volume decreased by -10.1% to X units. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2019 with an increase of 95% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then contracted in the following year.

In value terms, worked wax articles imports shrank to $X in 2022. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 92% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Russia dominates imports structure, accounting for X units, which was near 83% of total imports in 2022. The following importers - Uzbekistan (X units), Belarus (X units), Moldova (X units), Kazakhstan (X units) and Azerbaijan (X units) - together made up 16% of total imports.

Imports into Russia increased at an average annual rate of +13.2% from 2012 to 2022. At the same time, Azerbaijan (+109.9%), Moldova (+30.4%), Uzbekistan (+18.4%), Kazakhstan (+10.5%) and Belarus (+5.8%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +109.9% from 2012-2022. From 2012 to 2022, the share of Uzbekistan, Moldova and Azerbaijan increased by +4, +2.5 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported worked articles of wax in the CIS, comprising 87% of total imports. The second position in the ranking was held by Belarus ($X), with a 5.6% share of total imports. It was followed by Uzbekistan, with a 2.8% share.

In Russia, worked wax articles imports increased at an average annual rate of +11.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belarus (+3.8% per year) and Uzbekistan (+6.0% per year).

Import Prices by Country

The import price in the CIS stood at $X per thousand units in 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2013 an increase of 34% against the previous year. The level of import peaked at $X per thousand units in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 Belarus ($X per thousand units), while Azerbaijan ($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 Kazakhstan (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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