Latin America and the Caribbean: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Latin America and the Caribbean

In 2022, the Latin American vegetable waxes market increased by X% to $X, rising for the second year in a row after eight years of decline. Over the period under review, consumption, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Waxes Production in Latin America and the Caribbean

In value terms, vegetable waxes production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Waxes Exports

Exports in Latin America and the Caribbean

After three years of growth, shipments abroad of vegetable waxes decreased by X% to X tons in 2022. Over the period under review, exports showed a mild slump. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then reduced notably in the following year.

In value terms, vegetable waxes exports reduced notably to $X in 2022. Overall, exports showed a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil dominates exports structure, reaching X tons, which was near X% of total exports in 2022. Mexico (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of vegetable waxes. Mexico (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest vegetable waxes supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled X%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, showed a slight contraction. The growth pace was the most rapid in 2014 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%).

Vegetable Waxes Imports

Imports in Latin America and the Caribbean

Vegetable waxes imports dropped remarkably to X tons in 2022, waning by X% compared with 2021. Overall, imports faced a abrupt curtailment. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable waxes imports declined slightly to $X in 2022. Over the period under review, imports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Dominican Republic (X tons), distantly followed by Colombia (X tons), Mexico (X tons), Peru (X tons), Guatemala (X tons) and Chile (X tons) were the largest importers of vegetable waxes, together generating X% of total imports. Ecuador (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Dominican Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Mexico ($X) and the Dominican Republic ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

The Dominican Republic, with a CAGR of X%, 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 Latin America and the Caribbean stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable waxes import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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 Mexico ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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