Switzerland: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Switzerland

The Swiss worked wax articles market rose sharply to $X in 2022, growing by 7.8% against the previous year. Overall, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -21.1% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Worked Wax Articles Production in Switzerland

In value terms, worked wax articles production surged to $X in 2022 estimated in export price. Overall, production showed significant growth. The growth pace was the most rapid in 2020 with an increase of 454%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Worked Wax Articles Exports

Exports from Switzerland

In 2022, shipments abroad of worked articles of wax decreased by -27.5% to X units, falling for the third consecutive year after two years of growth. Overall, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 when exports increased by 30% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, worked wax articles exports surged to $X in 2022. In general, exports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2019 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units) was the main destination for worked wax articles exports from Switzerland, with a 73% share of total exports. Moreover, worked wax articles exports to Italy exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was held by Belgium (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-9.8% per year) and Belgium (-18.1% per year).

In value terms, Italy ($X) remains the key foreign market for worked articles of wax exports from Switzerland, comprising 78% of total exports. The second position in the ranking was taken by Sweden ($X), with a 4.9% share of total exports. It was followed by Germany, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+0.7% per year) and Germany (-1.5% per year).

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, surging by 62% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of 71%. The export price peaked at $X per thousand units in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per thousand units), while the average price for exports to Belgium ($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 Czech Republic (+38.2%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Wax Articles Imports

Imports into Switzerland

In 2022, worked wax articles imports into Switzerland dropped remarkably to X units, with a decrease of -16.8% on the previous year. In general, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 32%. Imports peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, worked wax articles imports fell to $X in 2022. Over the period under review, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2018 when imports increased by 31% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X units) constituted the largest supplier of worked wax articles to Switzerland, with a 39% share of total imports. Moreover, worked wax articles imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Spain (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.8% per year) and Spain (+4.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of worked articles of wax to Switzerland, comprising 67% of total imports. The second position in the ranking was taken by Romania ($X), with a 6.9% share of total imports. It was followed by Spain, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+76.3% per year) and Spain (-0.5% per year).

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per thousand units, growing by 6.1% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, worked wax articles import price decreased by -21.1% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 26% against the previous year. The import price peaked at $X per thousand units in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per thousand units), while the price for China ($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 Indonesia (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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