Saudi Arabia: Candles And Tapers Market 2024

Candles And Tapers Market Size in Saudi Arabia

The Saudi candles and tapers market skyrocketed to $X in 2021, increasing by 19% 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). In general, consumption recorded a strong expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Candles And Tapers Exports

Exports from Saudi Arabia

In 2021, exports of candles and tapers from Saudi Arabia surged to X tons, growing by 178% compared with 2020. Over the period under review, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 4,339% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, candles and tapers exports soared to $X in 2021. In general, exports, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2015 when exports increased by 3,094%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sudan (X tons), Djibouti (X tons) and Egypt (X tons) were the main destinations of candles and tapers exports from Saudi Arabia, with a combined 57% share of total exports. The United Arab Emirates, Bahrain, Yemen and Oman lagged somewhat behind, together accounting for a further 8.1%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +61.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Sudan ($X) and Djibouti ($X) appeared to be the largest markets for candles and tapers exported from Saudi Arabia worldwide, with a combined 22% share of total exports. The United Arab Emirates, Bahrain, Yemen and Oman lagged somewhat behind, together accounting for a further 8.4%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +36.1%, 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

The average candles and tapers export price stood at $X per ton in 2021, picking up by 14% against the previous year. In general, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers export price increased by +39.2% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 95%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Yemen ($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 Germany (+240.5%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into Saudi Arabia

In 2021, overseas purchases of candles and tapers increased by 27% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 51% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, candles and tapers imports skyrocketed to $X in 2021. Overall, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 49% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of candles and tapers to Saudi Arabia, accounting for a 67% share of total imports. Moreover, candles and tapers imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by Poland (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.8% per year) and Poland (+11.9% per year).

In value terms, China ($X), the United States ($X) and Canada ($X) were the largest candles and tapers suppliers to Saudi Arabia, together accounting for 80% of total imports. These countries were followed by Poland and India, which together accounted for a further 9.1%.

Among the main suppliers, India, with a CAGR of +33.0%, saw the highest rates of growth with regard to 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

In 2021, the average candles and tapers import price amounted to $X per ton, which is down by -7.3% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 an increase of 15% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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