Spain: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Spain

The Spanish worked wax articles market shrank to $X in 2022, declining by -4.3% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -22.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Worked Wax Articles Production in Spain

In value terms, worked wax articles production declined to $X in 2022 estimated in export price. In general, production saw a slight decline. The pace of growth appeared the most rapid in 2021 with an increase of 41% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Worked Wax Articles Exports

Exports from Spain

In 2022, overseas shipments of worked articles of wax increased by 21% to X units, rising for the second consecutive year after four years of decline. Overall, exports, however, showed a mild shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 55%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, worked wax articles exports skyrocketed to $X in 2022. In general, exports, however, faced a abrupt shrinkage. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X units), France (X units) and Italy (X units) were the main destinations of worked wax articles exports from Spain, together comprising 74% of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +42.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) emerged as the key foreign market for worked articles of wax exports from Spain, comprising 34% of total exports. The second position in the ranking was held by France ($X), with a 15% share of total exports. It was followed by Italy, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-7.3% per year) and Italy (+38.5% per year).

Export Prices by Country

The average worked wax articles export price stood at $X per thousand units in 2022, rising by 4% against the previous year. Over the period under review, the export price, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 28% against the previous year. The export price peaked at $X per thousand units in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per thousand units), while the average price for exports to France ($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 Turkey (-2.1%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into Spain

In 2022, purchases abroad of worked articles of wax decreased by -8.9% to X units, falling for the sixth year in a row after five years of growth. Overall, imports showed a slight contraction. The most prominent rate of growth was recorded in 2013 with an increase of 54% against the previous year. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, worked wax articles imports rose markedly to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 25%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

France (X units), Romania (X units) and India (X units) were the main suppliers of worked wax articles imports to Spain, together accounting for 76% of total imports. China, Germany, Italy, Croatia, Vietnam and Belgium lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +117.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Romania ($X) and China ($X) constituted the largest worked wax articles suppliers to Spain, together accounting for 81% of total imports. Croatia, Germany, India, Belgium, Vietnam and Italy lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Vietnam, with a CAGR of +105.0%, 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 2022, the average worked wax articles import price amounted to $X per thousand units, rising by 15% against the previous year. In general, the import price posted a pronounced expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 49% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Croatia ($X per thousand units), while the price for Italy ($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 Bulgaria (+205.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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