MENA: Candles And Tapers Market 2024

Candles And Tapers Market Size in MENA

After nine years of growth, the MENA's candles and tapers market decreased by -3.8% to $X in 2021. Overall, consumption, however, enjoyed buoyant growth. The level of consumption peaked at $X in 2020, and then fell in the following year.

Candles And Tapers Production in MENA

In value terms, candles and tapers production dropped to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.6% 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 +96.0% against 2013 indices. The growth pace was the most rapid in 2017 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Candles And Tapers Exports

Exports in MENA

In 2021, shipments abroad of candles and tapers was finally on the rise to reach X tons after three years of decline. Overall, exports, however, recorded a pronounced slump. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, candles and tapers exports soared to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons), Israel (X tons), the United Arab Emirates (X tons) and Tunisia (X tons) represented the largest exporter of candles and tapers in MENA, achieving 84% of total export. Oman (X tons) ranks next in terms of the total exports with a 7% share, followed by Iran (4.8%). Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Oman (with a CAGR of +60.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest candles and tapers supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined 70% share of total exports. Tunisia, Oman, Morocco and Iran lagged somewhat behind, together comprising a further 28%.

Among the main exporting countries, Oman, with a CAGR of +72.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 12% against the previous year. In general, the export price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 32% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per ton), while Iran ($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 United Arab Emirates (+20.9%), while the other leaders experienced more modest paces of growth.

Candles And Tapers Imports

Imports in MENA

In 2021, imports of candles and tapers in MENA surged to X tons, growing by 24% against the previous year. The total import volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable 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. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +134.3% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of candles and tapers, namely Saudi Arabia, the United Arab Emirates and Israel, represented more than half of total import. Turkey (X tons) took the next position in the ranking, followed by Iraq (X tons) and Kuwait (X tons). All these countries together took near 20% share of total imports. Qatar (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Israel ($X) were the countries with the highest levels of imports in 2021, together accounting for 68% of total imports. These countries were followed by Kuwait, Qatar, Turkey and Iraq, which together accounted for a further 20%.

Iraq, with a CAGR of +19.0%, saw 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

In 2021, the import price in MENA amounted to $X per ton, rising by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +5.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Iraq ($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 United Arab Emirates (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform