Egypt: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Egypt

The Egyptian worked wax articles market soared to $X in 2022, rising by 24% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Worked Wax Articles Exports

Exports from Egypt

In 2022, approx. X units of worked articles of wax were exported from Egypt; declining by -49.7% against the previous year. Overall, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 208% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, worked wax articles exports fell sharply to $X in 2022. In general, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 162%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sudan (X units) was the main destination for worked wax articles exports from Egypt, accounting for a 61% share of total exports. Moreover, worked wax articles exports to Sudan exceeded the volume sent to the second major destination, Spain (X units), threefold. Yemen (X units) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sudan amounted to -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+24.7% per year) and Yemen (-10.2% per year).

In value terms, Sudan ($X) remains the key foreign market for worked articles of wax exports from Egypt, comprising 70% of total exports. The second position in the ranking was held by Yemen ($X), with a 19% share of total exports. It was followed by Spain, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sudan amounted to -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (-9.9% per year) and Spain (+10.2% per year).

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, picking up by 40% against the previous year. In general, the export price, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 309%. The export price peaked at $X per thousand units in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Yemen ($X per thousand units), while the average price for exports to Spain ($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 Lebanon (+89.2%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Egypt

Worked wax articles imports into Egypt skyrocketed to X units in 2022, growing by 20% on the year before. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 36%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, worked wax articles imports soared to $X in 2022. In general, total imports indicated a modest increase 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, imports decreased by -6.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 43%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X units), Belgium (X units) and France (X units) were the main suppliers of worked wax articles imports to Egypt, with a combined 91% share of total imports. Vietnam, Spain and Germany lagged somewhat behind, together accounting for a further 7.7%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +59.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest worked wax articles suppliers to Egypt were India ($X), Belgium ($X) and France ($X), together comprising 91% of total imports. Vietnam, Spain and Germany lagged somewhat behind, together comprising a further 7.7%.

Among the main suppliers, Spain, with a CAGR of +57.4%, recorded 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

The average worked wax articles import price stood at $X per thousand units in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 36% against the previous year. Over the period under review, average import prices attained the maximum at $X per thousand units in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per thousand units) and Spain ($X per thousand units), while the price for France ($X per thousand units) and Belgium ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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