Peru: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Peru

The Peruvian worked wax articles market rose markedly to $X in 2022, increasing by 13% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.1% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Worked Wax Articles Production in Peru

In value terms, worked wax articles production amounted to $X in 2022 estimated in export price. In general, production saw a pronounced expansion. The most prominent rate of growth was recorded in 2019 with an increase of 59%. Worked wax articles production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Worked Wax Articles Exports

Exports from Peru

Worked wax articles exports from Peru dropped to X units in 2022, which is down by -12.8% compared with the previous year. In general, exports, however, recorded a temperate expansion. The growth pace was the most rapid in 2019 when exports increased by 133% against the previous year. Over the period under review, the exports reached the maximum at X units in 2021, and then contracted in the following year.

In value terms, worked wax articles exports reduced dramatically to $X in 2022. Overall, exports continue to indicate a slight downturn. The growth pace was the most rapid in 2019 when exports increased by 138%. The exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Argentina (X units), the United States (X units) and Ecuador (X units) were the main destinations of worked wax articles exports from Peru, together accounting for 76% of total exports.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +40.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for worked wax articles exported from Peru were the United States ($X), Argentina ($X) and Panama ($X), together comprising 70% of total exports.

In terms of the main countries of destination, Argentina, with a CAGR of +60.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, reducing by -3.6% against the previous year. Overall, the export price continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2014 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per thousand units in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per thousand units), while the average price for exports to Chile ($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 Argentina (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Peru

In 2022, after two years of decline, there was growth in overseas purchases of worked articles of wax, when their volume increased by 2.1% to X units. In general, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2013 when imports increased by 40% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, worked wax articles imports reached $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 43% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Mexico (X units), China (X units) and Colombia (X units) were the main suppliers of worked wax articles imports to Peru, with a combined 72% share of total imports. Argentina, India, Brazil and the United States lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), China ($X) and Brazil ($X) appeared to be the largest worked wax articles suppliers to Peru, together comprising 72% of total imports. India, Mexico, Argentina and the United States lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, Argentina, with a CAGR of +82.2%, recorded 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, stabilizing at the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.1% 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 decreased by -3.5% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 28%. As a result, import price reached the peak level of $X per thousand units. From 2019 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per thousand units), while the price for Mexico ($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 (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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