Italy: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Italy

The Italian worked wax articles market surged to $X in 2022, picking up by 28% against the previous year. Overall, consumption recorded a prominent expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Worked Wax Articles Production in Italy

In value terms, worked wax articles production soared to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent increase. The growth pace was the most rapid in 2020 when the production volume increased by 277%. 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 Italy

Worked wax articles exports from Italy soared to X units in 2022, with an increase of 29% against the previous year's figure. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 86%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, worked wax articles exports soared to $X in 2022. In general, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 84%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

France (X units) was the main destination for worked wax articles exports from Italy, accounting for a 54% share of total exports. Moreover, worked wax articles exports to France exceeded the volume sent to the second major destination, Turkey (X units), fourfold. The third position in this ranking was taken by Bangladesh (X units), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France amounted to +52.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+47.7% per year) and Bangladesh (+64.3% per year).

In value terms, France ($X) remains the key foreign market for worked articles of wax exports from Italy, comprising 39% of total exports. The second position in the ranking was held by Turkey ($X), with a 9% share of total exports. It was followed by Greece, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to France totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+48.4% per year) and Greece (+13.7% per year).

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, reducing by -6.9% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 22% against the previous year. The export price peaked at $X per thousand units in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per thousand units), while the average price for exports to Bangladesh ($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 Spain (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Italy

In 2022, worked wax articles imports into Italy reached X units, increasing by 3.8% on the previous year. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 31%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, worked wax articles imports totaled $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X units), Germany (X units) and Spain (X units) were the main suppliers of worked wax articles imports to Italy, together comprising 58% of total imports. The Netherlands, China, Croatia, Poland, France and Ecuador lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +118.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of worked articles of wax to Italy, comprising 50% of total imports. The second position in the ranking was taken by Spain ($X), with an 11% share of total imports. It was followed by France, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.3% per year) and France (+7.7% per year).

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per thousand units, reducing by -3.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 24%. Over the period under review, average import prices reached the maximum at $X per thousand units in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per thousand units), while the price for China ($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 (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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