South-Eastern Asia: Candles And Tapers Market 2024

Candles And Tapers Market Size in South-Eastern Asia

The Southeast Asian candles and tapers market shrank to $X in 2021, with a decrease of -2.6% against the previous year. Over the period under review, consumption, however, recorded a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Candles And Tapers Production in South-Eastern Asia

In value terms, candles and tapers production fell slightly to $X in 2021 estimated in export price. Overall, production, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 34%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Candles And Tapers Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of candles and tapers were exported in South-Eastern Asia; picking up by 12% against 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +103.9% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 35% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, candles and tapers exports expanded sharply to $X in 2021. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 26%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

Vietnam was the main exporter of candles and tapers in South-Eastern Asia, with the volume of exports resulting at X tons, which was near 86% of total exports in 2021. It was distantly followed by Thailand (X tons), constituting a 10% share of total exports. Indonesia (X tons) took a minor share of total exports.

Vietnam was also the fastest-growing in terms of the candles and tapers exports, with a CAGR of +7.2% from 2012 to 2021. At the same time, Thailand (+2.9%) displayed positive paces of growth. By contrast, Indonesia (-6.7%) illustrated a downward trend over the same period. While the share of Vietnam (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-2.6 p.p.) and Indonesia (-3.5 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest candles and tapers supplier in South-Eastern Asia, comprising 87% of total exports. The second position in the ranking was taken by Thailand ($X), with an 8.8% share of total exports.

In Vietnam, candles and tapers exports increased at an average annual rate of +7.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+2.9% per year) and Indonesia (-1.6% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, growing by 2.6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 13%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.5%), while the other leaders experienced a decline in the export price figures.

Candles And Tapers Imports

Imports in South-Eastern Asia

Candles and tapers imports surged to X tons in 2021, picking up by 26% on 2020 figures. The total import volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers imports surged to $X in 2021. In general, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the seven major importers of candles and tapers, namely Malaysia, Singapore, Indonesia, Timor-Leste, the Philippines, Myanmar and Thailand, represented more than two-thirds of total import.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +39.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 73% of total imports. Thailand, Myanmar, Timor-Leste and the Philippines lagged somewhat behind, together comprising a further 23%.

Myanmar, with a CAGR of +39.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, rising by 19% against the previous year. Import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.4% 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 import price increased by +16.5% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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