Sweden: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Sweden

The Swedish worked wax articles market rose notably to $X in 2022, surging by 5.7% against the previous year. Overall, consumption, however, saw a mild setback. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Worked Wax Articles Production in Sweden

In value terms, worked wax articles production soared to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 182% against the previous year. Worked wax articles production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Worked Wax Articles Exports

Exports from Sweden

In 2022, the amount of worked articles of wax exported from Sweden skyrocketed to X units, picking up by 20% compared with the previous year's figure. Over the period under review, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 360% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, worked wax articles exports stood at $X in 2022. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 406%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Norway (X units) was the main destination for worked wax articles exports from Sweden, accounting for a 47% share of total exports. Moreover, worked wax articles exports to Norway exceeded the volume sent to the second major destination, Germany (X units), fivefold. Australia (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume to Norway stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+85.9% per year) and Australia (+8.0% per year).

In value terms, Norway ($X) remains the key foreign market for worked articles of wax exports from Sweden, comprising 44% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports. It was followed by Australia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Norway amounted to +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+76.9% per year) and Australia (+18.3% per year).

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, with a decrease of -14.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 119% against the previous year. The export price peaked at $X per thousand units in 2018; however, from 2019 to 2022, the 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 Germany ($X per thousand units), while the average price for exports to Denmark ($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 India (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Sweden

In 2022, approx. X units of worked articles of wax were imported into Sweden; waning by -51.1% against the year before. In general, imports saw a deep setback. The growth pace was the most rapid in 2017 when imports increased by 519% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, worked wax articles imports declined remarkably to $X in 2022. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 171%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Denmark (X units) constituted the largest supplier of worked wax articles to Sweden, accounting for a 44% share of total imports. Moreover, worked wax articles imports from Denmark exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. Switzerland (X units) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark totaled +60.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+19.0% per year) and Switzerland (+7.8% per year).

In value terms, Denmark ($X), the Netherlands ($X) and Belgium ($X) constituted the largest worked wax articles suppliers to Sweden, together comprising 66% of total imports. Germany, Switzerland, Spain, Poland, Mexico, China, Vietnam and the UK lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, Mexico, with a CAGR of +125.3%, 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, surging by 13% against the previous year. Over the period under review, the import price, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 an increase of 179%. Over the period under review, average import prices reached the maximum at $X per thousand units in 2012; however, from 2013 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 ($X per thousand units), while the price for Vietnam ($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 China (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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