Malaysia: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Malaysia

The Malaysian vegetable waxes market declined notably to $X in 2022, waning by X% against the previous year. Over the period under review, consumption showed a deep reduction. The pace of growth appeared the most rapid in 2021 when the market value decreased by X%. Vegetable waxes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Waxes Production in Malaysia

In value terms, vegetable waxes production reduced notably to $X in 2022 estimated in export price. In general, production saw a deep downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Vegetable waxes production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Waxes Exports

Exports from Malaysia

In 2022, exports of vegetable waxes from Malaysia skyrocketed to X tons, increasing by X% on the previous year. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, vegetable waxes exports dropped to $X in 2022. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for vegetable waxes exports from Malaysia, accounting for a X% share of total exports. Moreover, vegetable waxes exports to the United States exceeded the volume sent to the second major destination, France (X tons), fivefold. The third position in this ranking was held by Greece (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Greece (X% per year).

In value terms, the United States ($X) remains the key foreign market for vegetable waxes exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by Australia, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Australia (X% per year).

Export Prices by Country

In 2022, the average vegetable waxes export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a 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 Australia ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Waxes Imports

Imports into Malaysia

In 2022, overseas purchases of vegetable waxes decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, recorded a tangible increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, vegetable waxes imports shrank significantly to $X in 2022. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of vegetable waxes imports to Malaysia, with a combined X% share of total imports.

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

In value terms, the largest vegetable waxes suppliers to Malaysia were Japan ($X), the United States ($X) and Brazil ($X), together comprising X% of total imports.

Brazil, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable waxes import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price enjoyed a mild expansion. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :