Latin America and the Caribbean: Candles And Tapers Market 2024

Candles And Tapers Market Size in Latin America and the Caribbean

The Latin American candles and tapers market declined to $X in 2021, shrinking by -4.4% against the previous year. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -26.6% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Candles And Tapers Production in Latin America and the Caribbean

In value terms, candles and tapers production fell slightly to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Candles And Tapers Exports

Exports in Latin America and the Caribbean

In 2021, approx. X tons of candles and tapers were exported in Latin America and the Caribbean; growing by 80% compared with the previous year. In general, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers exports skyrocketed to $X in 2021. Total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +100.4% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico was the main exporting country with an export of around X tons, which finished at 65% of total exports. It was distantly followed by the Dominican Republic (X tons), mixing up a 28% share of total exports. The following exporters - Nicaragua (X tons) and Brazil (X tons) - each recorded a 4.2% share of total exports.

Mexico was also the fastest-growing in terms of the candles and tapers exports, with a CAGR of +13.8% from 2012 to 2021. At the same time, the Dominican Republic (+6.1%) displayed positive paces of growth. By contrast, Brazil (-1.5%) and Nicaragua (-1.6%) illustrated a downward trend over the same period. While the share of Mexico (+16 p.p.) and Nicaragua (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-3.6 p.p.) and the Dominican Republic (-11.7 p.p.) displayed negative dynamics.

In value terms, Mexico ($X), the Dominican Republic ($X) and Brazil ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 93% of total exports.

In terms of the main exporting countries, the Dominican Republic, with a CAGR of +8.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, dropping by -27.5% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 when the export price increased by 21% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+2.4%), while the other leaders experienced a decline in the export price figures.

Candles And Tapers Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of candles and tapers were imported in Latin America and the Caribbean; rising by 22% on the previous year. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers imports surged to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Chile (X tons), Mexico (X tons), Haiti (X tons), Honduras (X tons), Paraguay (X tons), Panama (X tons), Brazil (X tons), Venezuela (X tons), Costa Rica (X tons), Colombia (X tons), Peru (X tons) and El Salvador (X tons) represented the key importer of candles and tapers in Latin America and the Caribbean, committing 82% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Panama (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest candles and tapers importing markets in Latin America and the Caribbean were Chile ($X), Mexico ($X) and Brazil ($X), with a combined 44% share of total imports. These countries were followed by Panama, Paraguay, Honduras, Haiti, Colombia, Costa Rica, Peru, Venezuela and El Salvador, which together accounted for a further 39%.

Panama, with a CAGR of +11.4%, recorded the highest rates of growth with regard to 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 Latin America and the Caribbean stood at $X per ton in 2021, growing by 21% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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