Middle East: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in the Middle East

The Middle Eastern vegetable waxes market declined slightly to $X in 2022, flattening at the previous year. Over the period under review, consumption showed a deep downturn. 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 the Middle East

In value terms, vegetable waxes production declined modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep reduction. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vegetable Waxes Exports

Exports in the Middle East

In 2022, the amount of vegetable waxes exported in the Middle East dropped to X tons, shrinking by X% on the previous year. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell in the following year.

In value terms, vegetable waxes exports dropped to $X in 2022. In general, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

Saudi Arabia represented the key exporter of vegetable waxes in the Middle East, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 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. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Saudi Arabia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price showed modest growth. The growth pace was the most rapid in 2013 an increase of X% against the previous year. 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.

Prices varied noticeably by country of origin: 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 the Middle East

In 2022, the amount of vegetable waxes imported in the Middle East amounted to X tons, increasing by X% on 2021. In general, imports, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2019 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, vegetable waxes imports amounted 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 in certain years. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Turkey was the largest importing country with an import of about X tons, which accounted for X% of total imports. Israel (X tons) took the second position in the ranking, followed by Iran (X tons) and the United Arab Emirates (X tons). All these countries together held near X% share of total imports. Lebanon (X tons) held a little share of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of vegetable waxes. At the same time, Lebanon (X%) and Israel (X%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%) and Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Israel increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported vegetable waxes in the Middle East, comprising X% of total imports. The second position in the ranking was held by Iran ($X), with an 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. The remaining importing countries recorded the following average annual rates of imports growth: Iran (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lebanon ($X per ton), while the United Arab Emirates ($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

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