Romania: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Romania

The Romanian worked wax articles market surged to $X in 2022, rising by 45% against the previous year. Over the period under review, consumption continues to indicate a strong increase. Worked wax articles consumption peaked in 2022 and is expected to retain growth in the near future.

Worked Wax Articles Production in Romania

In value terms, worked wax articles production shrank dramatically to $X in 2022 estimated in export price. In general, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 197% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Worked Wax Articles Exports

Exports from Romania

For the third year in a row, Romania recorded growth in shipments abroad of worked articles of wax, which increased by 6.8% to X units in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.8% against 2015 indices. The growth pace was the most rapid in 2018 when exports increased by 39%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, worked wax articles exports fell to $X in 2022. In general, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.6% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

Spain (X units), Germany (X units) and France (X units) were the main destinations of worked wax articles exports from Romania, together accounting for 76% of total exports. Italy, Turkey, the UK, Switzerland and Austria lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +44.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for worked wax articles exported from Romania were Spain ($X), Germany ($X) and France ($X), with a combined 71% share of total exports. Italy, Turkey, the UK, Switzerland and Austria lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, the UK, with a CAGR of +49.8%, saw the highest growth rate of 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, waning by -12.1% against the previous year. Over the period under review, the export price recorded a noticeable decline. The most prominent rate of growth was recorded in 2014 an increase of 20% against the previous year. As a result, the export price attained the peak level of $X per thousand units. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per thousand units), while the average price for exports to Austria ($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 the UK (+3.7%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into Romania

In 2022, purchases abroad of worked articles of wax increased by 91% to X units, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 131%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, worked wax articles imports skyrocketed to $X in 2022. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2018 when imports increased by 40%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Poland (X units) constituted the largest worked wax articles supplier to Romania, accounting for a 60% share of total imports. Moreover, worked wax articles imports from Poland exceeded the figures recorded by the second-largest supplier, Bulgaria (X units), sevenfold. The third position in this ranking was taken by Belgium (X units), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to +49.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+43.1% per year) and Belgium (+0.4% per year).

In value terms, the largest worked wax articles suppliers to Romania were Belgium ($X), Poland ($X) and Croatia ($X), with a combined 76% share of total imports. Greece, Germany, Bulgaria, Italy and Denmark lagged somewhat behind, together comprising a further 14%.

Greece, with a CAGR of +51.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per thousand units, declining by -30.8% against the previous year. Overall, the import price recorded a noticeable descent. The pace of growth was the most pronounced in 2019 when the average import price increased by 46%. Over the period under review, average import prices hit record highs at $X per thousand units in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per thousand units), while the price for Bulgaria ($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 Denmark (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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