Eastern Europe: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Eastern Europe

The East European worked wax articles market rose remarkably to $X in 2022, increasing by 5% against the previous year. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.0% against 2020 indices. 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 Eastern Europe

In value terms, worked wax articles production rose notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight decline. The pace of growth appeared the most rapid in 2020 with an increase of 54% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Worked Wax Articles Exports

Exports in Eastern Europe

In 2022, approx. X units of worked articles of wax were exported in Eastern Europe; dropping by -10.6% on the previous year's figure. Overall, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 60% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, worked wax articles exports dropped dramatically to $X in 2022. Total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Romania (X units) was the main exporter of worked articles of wax, achieving 62% of total exports. It was distantly followed by the Czech Republic (X units), Russia (X units) and Poland (X units), together making up a 31% share of total exports. The following exporters - Ukraine (X units) and Belarus (X units) - each accounted for a 4.4% share of total exports.

Exports from Romania increased at an average annual rate of +5.6% from 2012 to 2022. At the same time, Belarus (+43.4%), the Czech Republic (+34.7%), Poland (+21.2%) and Russia (+8.1%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +43.4% from 2012-2022. By contrast, Ukraine (-15.3%) illustrated a downward trend over the same period. The Czech Republic (+12 p.p.), Poland (+4.8 p.p.), Russia (+2 p.p.) and Belarus (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Romania and Ukraine saw its share reduced by -1.8% and -20% from 2012 to 2022, respectively.

In value terms, Romania ($X) remains the largest worked wax articles supplier in Eastern Europe, comprising 56% of total exports. The second position in the ranking was taken by Russia ($X), with a 14% share of total exports. It was followed by the Czech Republic, with a 7.9% share.

In Romania, worked wax articles exports expanded at an average annual rate of +2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+1.7% per year) and the Czech Republic (+28.2% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per thousand units, reducing by -9.4% against the previous year. In general, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 when the export price increased by 37%. The level of export peaked at $X per thousand units in 2016; however, from 2017 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 ($X per thousand units), while Ukraine ($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 Ukraine (+12.1%), while the other leaders experienced mixed trends in the export price figures.

Worked Wax Articles Imports

Imports in Eastern Europe

After six years of growth, supplies from abroad of worked articles of wax decreased by -11.3% to X units in 2022. In general, imports, however, showed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, worked wax articles imports contracted to $X in 2022. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

Romania (X units) and Russia (X units) represented the major importers of worked articles of wax in 2022, finishing at near 32% and 27% of total imports, respectively. Poland (X units) ranks next in terms of the total imports with an 11% share, followed by Hungary (9.6%), the Czech Republic (6.4%) and Slovakia (4.9%). Ukraine (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +23.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Hungary ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 62% share of total imports. Romania, the Czech Republic, Ukraine and Slovakia lagged somewhat behind, together accounting for a further 27%.

Romania, with a CAGR of +18.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Eastern Europe stood at $X per thousand units in 2022, surging by 5.9% against the previous year. In general, the import price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2019 when the import price increased by 8.9% against the previous year. The level of import peaked at $X per thousand units in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per thousand units), while Slovakia ($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 Poland (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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