Myanmar: Worked Wax Articles Market 2025

Worked Wax Articles Market Size in Myanmar

The Myanmar's worked wax articles market was estimated at less than $X in 2022, approximately mirroring the previous year. In general, consumption, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 with a decrease of -4.2%. Worked wax articles consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Worked Wax Articles Production in Myanmar

In value terms, worked wax articles production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight slump. The pace of growth appeared the most rapid in 2019 when the production volume increased by 61%. Worked wax articles production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Worked Wax Articles Exports

Exports from Myanmar

In 2018, approx. X units of worked articles of wax were exported from Myanmar; with an increase of 430% compared with the previous year's figure. Overall, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, worked wax articles exports soared to $X in 2018. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X units) was the main destination for worked wax articles exports from Myanmar, with a 96% share of total exports. Moreover, worked wax articles exports to South Korea exceeded the volume sent to the second major destination, China (X units), more than tenfold.

From 2017 to 2018, the average annual rate of growth in terms of volume to South Korea stood at +418.8%.

In value terms, South Korea ($X) remains the key foreign market for worked articles of wax exports from Myanmar, comprising 69% of total exports. The second position in the ranking was held by China ($X), with a 28% share of total exports.

From 2017 to 2018, the average annual rate of growth in terms of value to South Korea amounted to +299.8%.

Export Prices by Country

The average worked wax articles export price stood at $X per thousand units in 2018, picking up by 6.1% against the previous year. Over the period from 2017 to 2018, it increased at an average annual rate of +6.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2018, amid the top suppliers, the country with the highest price was China ($X per thousand units), while the average price for exports to South Korea stood at $X per thousand units.

From 2017 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-22.9%).

Worked Wax Articles Imports

Imports into Myanmar

In 2022, after two years of decline, there was significant growth in supplies from abroad of worked articles of wax, when their volume increased by 116% to X units. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 181%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, worked wax articles imports surged to $X in 2022. In general, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 189%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

India (X units), Indonesia (X units) and China (X units) were the main suppliers of worked wax articles imports to Myanmar, together accounting for 91% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +53.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest worked wax articles suppliers to Myanmar were India ($X), Indonesia ($X) and China ($X), together comprising 97% of total imports.

In terms of the main suppliers, India, with a CAGR of +52.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average worked wax articles import price stood at $X per thousand units in 2022, picking up by 15% against the previous year. Over the period under review, the import price, however, recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 an increase of 88% against the previous year. Over the period under review, average import prices hit record highs at $X per thousand units in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per thousand units), while the price for Malaysia ($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 Indonesia (+10.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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