MERCOSUR: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in MERCOSUR

The MERCOSUR worked wax articles market surged to $X in 2022, with an increase of 25% against the previous year. Over the period under review, consumption recorded a temperate expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Worked Wax Articles Production in MERCOSUR

In value terms, worked wax articles production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a slight expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 87% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Worked Wax Articles Exports

Exports in MERCOSUR

After three years of growth, overseas shipments of worked articles of wax decreased by -2.3% to X units in 2022. In general, exports saw a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 25%. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, worked wax articles exports declined modestly to $X in 2022. Over the period under review, exports saw a pronounced slump. The most prominent rate of growth was recorded in 2015 with an increase of 30% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia was the largest exporting country with an export of around X units, which finished at 53% of total exports. Brazil (X units) took the second position in the ranking, distantly followed by Peru (X units). All these countries together held near 42% share of total exports. Ecuador (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +19.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Colombia ($X) remains the largest worked wax articles supplier in MERCOSUR, comprising 61% of total exports. The second position in the ranking was taken by Brazil ($X), with a 30% share of total exports. It was followed by Peru, with a 4% share.

From 2012 to 2022, the average annual growth rate of value in Colombia amounted to -7.7%. In the other countries, the average annual rates were as follows: Brazil (+20.6% per year) and Peru (-1.4% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per thousand units, dropping by -2.2% against the previous year. Overall, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 10%. Over the period under review, the export prices reached the peak figure at $X per thousand units in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Colombia ($X per thousand units), while Peru ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.3%), while the other leaders experienced a decline in the export price figures.

Worked Wax Articles Imports

Imports in MERCOSUR

Worked wax articles imports skyrocketed to X units in 2022, surging by 54% on the year before. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, worked wax articles imports soared to $X in 2022. The total import value increased at an average annual rate of +5.0% from 2012 to 2022; however, 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 2022, Brazil (X units) was the main importer of worked articles of wax, generating 53% of total imports. It was distantly followed by Guyana (X units), Argentina (X units), Chile (X units), Ecuador (X units) and Peru (X units), together creating a 42% share of total imports. Colombia (X units) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to worked wax articles imports into Brazil stood at +9.8%. At the same time, Guyana (+72.1%) and Ecuador (+7.6%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +72.1% from 2012-2022. Chile and Colombia experienced a relatively flat trend pattern. By contrast, Peru (-5.1%) and Argentina (-14.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Guyana and Ecuador increased by +33, +14 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest worked wax articles importing markets in MERCOSUR were Brazil ($X), Argentina ($X) and Chile ($X), with a combined 84% share of total imports. Peru, Ecuador, Colombia and Guyana lagged somewhat behind, together comprising a further 12%.

Guyana, with a CAGR of +61.1%, saw the highest growth rate of 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 MERCOSUR stood at $X per thousand units in 2022, shrinking by -16.4% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 32% against the previous year. Over the period under review, import prices reached the peak figure at $X per thousand units in 2021, and then dropped rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per thousand units), while Guyana ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+22.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform