Denmark: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Denmark

In 2022, the Danish worked wax articles market decreased by -80.3% to $X, falling for the second year in a row after two years of growth. In general, consumption continues to indicate a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Worked Wax Articles Production in Denmark

In value terms, worked wax articles production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +126.3% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 72% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then dropped slightly in the following year.

Worked Wax Articles Exports

Exports from Denmark

For the third consecutive year, Denmark recorded growth in shipments abroad of worked articles of wax, which increased by 181% to X units in 2022. Overall, exports showed a resilient increase. The growth pace was the most rapid in 2016 with an increase of 535%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, worked wax articles exports skyrocketed to $X in 2022. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 233%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Slovakia (X units), Sweden (X units) and France (X units) were the main destinations of worked wax articles exports from Denmark, together accounting for 50% of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +285.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for worked wax articles exported from Denmark were Sweden ($X), Slovakia ($X) and Poland ($X), together comprising 44% of total exports.

In terms of the main countries of destination, Slovakia, with a CAGR of +274.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average worked wax articles export price stood at $X per thousand units in 2022, falling by -47.9% against the previous year. Over the period under review, the export price, however, continues to indicate a tangible expansion. The growth pace was the most rapid in 2017 when the average export price increased by 250% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per thousand units in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per thousand units), while the average price for exports to Slovakia ($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 (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Denmark

In 2022, the amount of worked articles of wax imported into Denmark totaled X units, picking up by 4.6% against 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 108% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, worked wax articles imports soared to $X in 2022. Overall, imports showed a mild increase. The growth pace was the most rapid in 2013 when imports increased by 52%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of worked wax articles to Denmark, with a 33% share of total imports. Moreover, worked wax articles imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X units), twofold. The Netherlands (X units) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.0% per year) and the Netherlands (+37.8% per year).

In value terms, China ($X), Belgium ($X) and the Netherlands ($X) appeared to be the largest worked wax articles suppliers to Denmark, with a combined 69% share of total imports. Germany, Lithuania, Vietnam, Sweden, France, Spain, Latvia, Sri Lanka and the UK lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Vietnam, with a CAGR of +40.6%, recorded 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 average worked wax articles import price stood at $X per thousand units in 2022, growing by 23% against the previous year. Over the period under review, the import price enjoyed a modest increase. The growth pace was the most rapid in 2013 an increase of 231%. As a result, import price attained the peak level of $X per thousand units. From 2014 to 2022, the average 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 ($X per thousand units), while the price for Sri Lanka ($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 Sri Lanka (+47.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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