Croatia: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Croatia

The Croatian worked wax articles market expanded rapidly to $X in 2022, growing by 9.8% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Worked Wax Articles Production in Croatia

In value terms, worked wax articles production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 28% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Worked Wax Articles Exports

Exports from Croatia

For the fourth consecutive year, Croatia recorded growth in shipments abroad of worked articles of wax, which increased by 8.2% to X units in 2022. Over the period under review, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 39% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, worked wax articles exports expanded rapidly to $X in 2022. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 27%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Russia (X units) was the main destination for worked wax articles exports from Croatia, with a 27% share of total exports. Moreover, worked wax articles exports to Russia exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was taken by the Netherlands (X units), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to Russia stood at +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+73.2% per year) and the Netherlands (-5.6% per year).

In value terms, Russia ($X) remains the key foreign market for worked articles of wax exports from Croatia, comprising 25% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 8% share of total exports. It was followed by Slovenia, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-4.8% per year) and Slovenia (+9.3% per year).

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, surging by 3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 an increase of 19% against the previous year. Over the period under review, the average export prices hit record highs at $X per thousand units in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per thousand units), while the average price for exports to Germany ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Croatia

In 2022, imports of worked articles of wax into Croatia soared to X units, picking up by 15% on 2021. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 44% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, worked wax articles imports totaled $X in 2022. Over the period under review, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 66% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest worked wax articles supplier to Croatia, accounting for a 58% share of total imports. Moreover, worked wax articles imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (X units), twofold. The third position in this ranking was taken by Italy (X units), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled +66.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+13.1% per year) and Italy (+4.2% per year).

In value terms, the Netherlands ($X), Belgium ($X) and Italy ($X) appeared to be the largest worked wax articles suppliers to Croatia, together comprising 96% of total imports. Germany, Slovenia and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 3.1%.

In terms of the main suppliers, Slovenia, with a CAGR of +93.9%, saw the highest growth rate of 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

In 2022, the average worked wax articles import price amounted to $X per thousand units, waning by -11.8% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the average import price increased by 41% against the previous year. The import price peaked at $X per thousand units in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per thousand units), while the price for Bosnia and Herzegovina ($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 Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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