EU: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in the EU

The EU worked wax articles market totaled $X in 2022, increasing by 9.5% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Worked Wax Articles Production in the EU

In value terms, worked wax articles production expanded rapidly to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 28% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Worked Wax Articles Exports

Exports in the EU

In 2022, shipments abroad of worked articles of wax increased by 7.9% to X units, rising for the third consecutive year after two years of decline. Overall, exports, however, continue to indicate a mild decline. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, worked wax articles exports fell to $X in 2022. In general, exports, however, saw a mild descent. The pace of growth appeared the most rapid in 2013 with an increase of 13% 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 somewhat lower figure.

Exports by Country

Belgium represented the largest exporter of worked articles of wax in the European Union, with the volume of exports finishing at X units, which was near 39% of total exports in 2022. The Netherlands (X units) held a 9.2% share (based on physical terms) of total exports, which put it in second place, followed by Italy (8.8%), Germany (8.7%), Croatia (8.6%), France (7.7%), Romania (7.3%) and Spain (5.7%).

From 2012 to 2022, average annual rates of growth with regard to worked wax articles exports from Belgium stood at -1.8%. At the same time, Italy (+17.1%), Croatia (+11.7%) and Romania (+5.6%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +17.1% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Spain (-1.2%), France (-6.1%) and the Netherlands (-10.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Italy, Croatia, Romania and Germany increased by +7.3, +6.2, +3.7 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest worked wax articles supplier in the European Union, comprising 52% of total exports. The second position in the ranking was held by France ($X), with an 11% share of total exports. It was followed by Croatia, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium totaled -1.3%. In the other countries, the average annual rates were as follows: France (-2.6% per year) and Croatia (+13.0% per year).

Export Prices by Country

The export price in the European Union stood at $X per thousand units in 2022, with a decrease of -16.1% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 18%. Over the period under review, the export prices attained the maximum at $X per thousand units in 2021, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per thousand units), while Italy ($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 the Netherlands (+7.4%), while the other leaders experienced more modest paces of growth.

Worked Wax Articles Imports

Imports in the EU

In 2022, purchases abroad of worked articles of wax increased by 4.8% to X units, rising for the second year in a row after three years of decline. Overall, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, worked wax articles imports totaled $X in 2022. Over the period under review, imports, however, showed a mild descent. The pace of growth was the most pronounced in 2021 with an increase of 13%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of worked articles of wax, namely Spain, Germany and France, represented more than half of total import. Romania (X units) ranks next in terms of the total imports with a 10% share, followed by the Netherlands (4.7%). Italy (X units), Belgium (X units), Poland (X units), Ireland (X units), Hungary (X units), Portugal (X units), Slovenia (X units) and Greece (X units) followed a long way behind the leaders.

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, the largest worked wax articles importing markets in the European Union were Germany ($X), Spain ($X) and France ($X), with a combined 49% share of total imports. Italy, Ireland, Poland, the Netherlands, Hungary, Slovenia, Romania, Belgium, Greece and Portugal lagged somewhat behind, together comprising a further 41%.

Romania, with a CAGR of +18.7%, recorded the highest growth rate of the value of imports, in terms of 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 the European Union stood at $X per thousand units in 2022, reducing by -3.2% against the previous year. Over the period under review, the import price, however, showed tangible growth. The most prominent rate of growth was recorded in 2018 an increase of 50% against the previous year. The level of import peaked at $X per thousand units in 2021, and then fell modestly in the following year.

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 Italy ($X per thousand units), while Romania ($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 Ireland (+33.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :