Myanmar: Candles And Tapers Market 2024

Candles And Tapers Market Size in Myanmar

The Myanmar's candles and tapers market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Candles and tapers consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Candles And Tapers Production in Myanmar

In value terms, candles and tapers production reached $X in 2021 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.0% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 70%. Candles and tapers production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Candles And Tapers Exports

Exports from Myanmar

In 2021, the amount of candles and tapers exported from Myanmar expanded modestly to X tons, surging by 3.5% compared with the previous year's figure. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 874%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, candles and tapers exports expanded rapidly to $X in 2021. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 859% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for candles and tapers exports from Myanmar, accounting for a 50% share of total exports. Moreover, candles and tapers exports to Malaysia exceeded the volume sent to the second major destination, India (X tons), twofold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +70.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+23.4% per year) and Thailand (+37.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for candles and tapers exports from Myanmar, comprising 53% of total exports. The second position in the ranking was taken by India ($X), with a 23% share of total exports. It was followed by Thailand, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +94.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+19.9% per year) and Thailand (+34.5% per year).

Export Prices by Country

In 2021, the average candles and tapers export price amounted to $X per ton, rising by 4% against the previous year. Overall, the export price, however, continues to indicate a mild descent. The growth pace was the most rapid in 2020 an increase of 26%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+14.1%), while the prices for the other major destinations experienced a decline.

Candles And Tapers Imports

Imports into Myanmar

Candles and tapers imports into Myanmar skyrocketed to X tons in 2021, rising by 161% compared with the year before. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 452%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, candles and tapers imports soared to $X in 2021. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 451% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) was the main supplier of candles and tapers to Myanmar, accounting for a 97% share of total imports. It was followed by Indonesia (X tons), with a 0.3% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +43.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-6.4% per year) and Vietnam (-27.7% per year).

In value terms, China ($X) constituted the largest supplier of candles and tapers to Myanmar, comprising 93% of total imports. The second position in the ranking was held by Indonesia ($X), with a 0.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +47.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-13.4% per year) and Vietnam (-20.6% per year).

Import Prices by Country

The average candles and tapers import price stood at $X per ton in 2021, waning by -2.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 27%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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