U.S.: Candles And Tapers Market 2024

Candles And Tapers Market Size in the U.S.

The U.S. candles and tapers market expanded modestly to $X in 2021, with an increase of 2% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2021.

Candles And Tapers Production in the U.S.

In value terms, candles and tapers production shrank slightly to $X in 2021. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Candles And Tapers Exports

Exports from the U.S.

Candles and tapers exports from the United States soared to X tons in 2021, with an increase of 49% against the previous year. The total export volume increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers exports skyrocketed to $X in 2021. Overall, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for candles and tapers exports from the United States, accounting for a 47% share of total exports. Moreover, candles and tapers exports to Canada exceeded the volume sent to the second major destination, the UK (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Canada stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-4.5% per year) and the United Arab Emirates (+26.4% per year).

In value terms, Canada ($X) remains the key foreign market for candles and tapers exports from the United States, comprising 33% of total exports. The second position in the ranking was taken by the UK ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-12.3% per year) and the United Arab Emirates (+24.1% per year).

Export Prices by Country

In 2021, the average candles and tapers export price amounted to $X per ton, waning by -8% against the previous year. Over the period under review, the export price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by 12% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Canada ($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 Mexico (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into the U.S.

In 2021, overseas purchases of candles and tapers increased by 39% to X tons, rising for the sixth consecutive year after two years of decline. In general, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, candles and tapers imports skyrocketed to $X in 2021. Overall, imports recorded a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of candles and tapers imports to the United States, together comprising 78% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +15.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constituted the largest supplier of candles and tapers to the United States, comprising 53% of total imports. The second position in the ranking was held by Canada ($X), with a 17% share of total imports. It was followed by China, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+7.2% per year) and China (+2.5% per year).

Import Prices by Country

In 2021, the average candles and tapers import price amounted to $X per ton, increasing by 12% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Vietnam ($X per ton), while the price for Mexico ($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 (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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