Norway: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Norway

The Norwegian worked wax articles market skyrocketed to $X in 2022, growing by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Worked wax articles consumption peaked in 2022 and is likely to see gradual growth in the near future.

Worked Wax Articles Exports

Exports from Norway

In 2022, the amount of worked articles of wax exported from Norway soared to X units, jumping by 63% against the previous year's figure. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 646%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, worked wax articles exports contracted to $X in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 512%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Sweden (X units) was the main destination for worked wax articles exports from Norway, accounting for a 83% share of total exports. Moreover, worked wax articles exports to Sweden exceeded the volume sent to the second major destination, Portugal (X units), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to +39.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (0.0% per year) and Denmark (+18.1% per year).

In value terms, Sweden ($X) remains the key foreign market for worked articles of wax exports from Norway, comprising 89% of total exports. The second position in the ranking was held by Portugal ($X), with a 1.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Sweden amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (0.0% per year) and Denmark (-5.2% per year).

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, declining by -43.5% against the previous year. Overall, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 338%. The export price peaked at $X per thousand units in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per thousand units), while the average price for exports to Portugal ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+20.2%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into Norway

In 2022, imports of worked articles of wax into Norway soared to X units, jumping by 28% against the year before. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 43%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports remained at a 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 +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 40% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest supplier of worked wax articles to Norway, with a 50% share of total imports. Moreover, worked wax articles imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X units), threefold. The third position in this ranking was taken by Bosnia and Herzegovina (X units), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+10.1% per year) and Bosnia and Herzegovina (+15.4% per year).

In value terms, China ($X) constituted the largest supplier of worked articles of wax to Norway, comprising 54% of total imports. The second position in the ranking was held by France ($X), with a 9.8% share of total imports. It was followed by Denmark, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.8% per year) and Denmark (+11.9% per year).

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per thousand units, shrinking by -4.7% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, worked wax articles import price increased by +54.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 62% against the previous year. As a result, import price reached the peak level of $X per thousand units, and then contracted modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per thousand units), while the price for Sweden ($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 Israel (+198.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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