MENA: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in MENA

The MENA's vegetable waxes market shrank to $X in 2022, approximately mirroring the previous year. In general, consumption recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vegetable Waxes Production in MENA

In value terms, vegetable waxes production declined slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep slump. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Waxes Exports

Exports in MENA

In 2022, approx. X tons of vegetable waxes were exported in MENA; with a decrease of X% compared with 2021. Overall, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, vegetable waxes exports dropped to $X in 2022. In general, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Saudi Arabia represented the key exporting country with an export of about X tons, which reached X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with an X% share, followed by Turkey (X%).

Saudi Arabia was also the fastest-growing in terms of the vegetable waxes exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable waxes supplying countries in MENA were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, 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 2022, the export price in MENA amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Vegetable Waxes Imports

Imports in MENA

In 2022, imports of vegetable waxes in MENA totaled X tons, flattening at 2021 figures. Overall, imports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable waxes imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which resulted at X% of total imports. Israel (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%). The following importers - the United Arab Emirates (X tons), Egypt (X tons), Algeria (X tons) and Tunisia (X tons) - together made up X% of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of vegetable waxes. At the same time, Tunisia (X%), Algeria (X%) and Israel (X%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%), Iran (X%) and Egypt (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Israel (X p.p.) and Tunisia (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates, Egypt and Iran saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported vegetable waxes in MENA, comprising X% of total imports. The second position in the ranking was taken by Iran ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

In Turkey, vegetable waxes imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (X% per year) and Israel (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Iran ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform